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Labrador Gold Intersects 6.22 G/T Gold Over 4 Metres in First Hole at Golden Glove Including 10.31 G/T Gold Over 2 Metres
by @nasdaq on 7 Jun 2022, 05:00
TORONTO, June 07, 2022 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from seven drill holes, including the first hole drilled at the Golden Glove Target in the south end of its 100% owned Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s ongoing 100,000 metre drill program at Kingsway.
Hole K-22-150 intersected 6.22 g/t Au over 4 metres that included 10.31 g/t Au over 2m at a vertical depth of 246 metres. This intersection is located approximately 160 m south of the Golden Glove discovery outcrop where six grab samples, three of which contained visible gold, assayed between 2.99 g/t and 338.1 g/t Au (see news release dated September 21, 2021). This intersection at Golden Glove is the fourth of four targets drilled by LabGold to return significant gold intercepts.
While there are many similarities between the mineralization observed at Golden Glove and that at Big Vein, a significant difference is that while Big Vein occurs on the west side of the Appleton Fault Zone, Golden Glove is situated on the East Side. This is the first drilling on the east side of the fault at the Kingsway Property.
Six holes drilled at the Pristine target intersected near surface gold mineralization over significant widths in the Doyle Zone, including 1.86 g/t Au over 8m in hole K-22-144 and 1.75 g/t over 20.2m that included 2.76 g/t Au over 6.2m in Hole K-22-139.
“We are very pleased with the results from the first hole drilled at Golden Glove especially considering that the intersection is approximately 160m south of the discovery outcrop. This indicates excellent potential for the area between this hole and the outcrop and we are certainly looking forward to the results from the remaining five holes drilled there to date,” said Roger Moss, President and CEO of LabGold. “The continued near surface gold intercepts extending the strike length of the Doyle Zone are nice to see especially those with wider intersections. We are encouraged by the successful drilling of our four initial targets, all of which have delivered significant gold mineralization. We will continue to test the new targets developed along the Appleton Fault Zone through the summer, starting with the CSAMT target approximately eight kilometres northeast of Big Vein.”
Hole ID From (m) To (m) Interval (m) Au (g/t) Zone
K-22-152 66 70.24 4.24 1.78 Doyle
87 90 3 2.24
93 96 3 1.17
K-22-150 348 352 4 6.22 Golden Glove
including 348 350 2 10.31
K-22-149 13 14 1 1.27 Doyle
K-22-146 57 57.95 0.95 1.12 Doyle
K-22-144 64 72 8 1.86 Doyle
including 69 71 2 3.32
K-22-143 92.2 93 0.8 1.42 Doyle
K-22-139 57.2 77.4 20.2 1.75 Doyle
including 62.2 68.4 6.2 2.76
89.4 92.4 3 1.59
Table 1. Summary of Assay Results. All intersections are downhole length
as there is insufficient Information to calculate true width.
Hole number Easting Northing Elevation Azimuth Dip Depth
K-22-152 661804 5436020 54 300 50 221
K-22-150 660539 5431776 48 265 45 452.57
K-22-149 661804 5436021 62 260 45 227
K-22-146 661803 5436032 64 260 62 176
K-22-144 661808 5436070 65 280 45 200.27
K-22-143 661801 5436034 54 260 45 299.06
K-22-139 661802 5436033 54 300 45 215
Table 2. Drill hole collar details
Figure 1. Doyle Zone plan map.
https://www.globenewswire.com/NewsRoom/AttachmentNg/5909d35d-b977-40ba-81da-f664988cc5e1
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $28 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 159,199,026 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter: @LabGoldCorp
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Primary Logo
Figure 1.
Doyle Zone plan map.
GMG.v $GMGMF GMG Technical Advisory Committee, Leadership Team Additions, and CFO Change
by @newsfile on 6 Jun 2022, 04:51
Brisbane, Queensland, Australia--(Newsfile Corp. - June 6, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide an update to the composition of the Company's leadership team and Technical Advisory Committee which will support the Company as it proceeds into its next phase of development.
Additionally, the Company announces that after nearly six years with GMG, Chris Ohlrich, CFO and Director has decided to leave the Company for personal reasons, since relocating to Melbourne with his family. The current Financial Controller for the Company, Deborah Appleton, will act as the interim CFO until the Company completes a comprehensive executive search for his replacement which is being carried out by executive search firm Russell Reynolds Associates.
As the Company enters its next phase of development, GMG believes there are significant 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 sales from its energy saving business and support the continued maturation of its graphene-Aluminium Ion battery technology.
With this focus in mind, the Company is pleased to announce the establishment of a knowledgeable, internationally experienced, Technical Advisory Committee which will include the following members who will add deep insight, experience and connections to GMG:
Bob Galyen (USA) - Bob is a highly experienced executive in the battery energy storage world and science/engineering-based communities. Bob was previously the Chief Technology Officer (CTO) of Contemporary Amperex Technology Company Limited (CATL). CATL is widely known as the largest lithium ion battery manufacturer in the world - supplying electric vehicles and high efficiency storage systems. He serves on multiple Committees of Directors and Technical Advisory Boards.
Professor Dan Brett (UK) - Dan is Professor of Electrochemical Engineering at the University College London (UCL), a top ranked University, where he is a director of the Electrochemical Innovation Lab (EIL) and Advanced Propulsion Lab (APL). He is an academic founder of the Faraday Institution (a UK battery research programme with a consortium of over 20 UK universities and 50 businesses - including 450 researchers) and member of its Expert Panel.
Underpinning the Company's efforts to further strengthen its management team, GMG is excited to announce several recent new management team appointments, including:
Mark Chan Yan as Battery General Manager. Mark has significant international experience with global technology companies including Yokogawa and ABB having held General Management roles in Sales and Technical leadership, driving the commercialisation of prototypes or concepts into products and solutions at scale. Mark has a Bachelor of Science (Electrical & Electronic Engineering) from the University of Cape Town (UCT) in South Africa. Mark will lead our Battery division going forward.
Mark Lock as Energy Saving Solutions General Manager, Mark has deep experience in industrial equipment sales and service solutions working in sales and technical leadership roles for companies including Komatsu, Brambles, Coates Hire, Onsite Rental Group and Aurizon. Most recently for Waco Australasia - a company servicing mining and heavy industry with specialist access, protective coatings and maintenance solutions. Mark will lead our Energy Savings Solutions business going forward.
Jeffrey Morris as Chief Technology and Projects Officer, Jeff has over 25 years of experience in engineering and project management. Jeff has worked in the oil and gas, mining, water treatment, and renewable energy industries including for such companies as Caltex, Origin Energy, BHP and Shell owned QGC. Jeff specialises in design, construction, commissioning, energy management, and business development. Jeff has completed studies of a Master's Degree in Executive Business at Queensland University of Technology, Diploma of Project Management at University of New England, and Bachelor of Chemical Engineering at University of Queensland. Jeff will lead our technology and projects team going forward.
Tim Scheiwe as Head of Marketing, Tim has near 20 years of experience in industrial B2B marketing, product management and sales experience in selling industrial chemicals such as hydrocarbons, ethanol, surfactants and heat transfer fluids for such companies as Orica and Recochem to a variety of industry and applications. Tim has completed a Bachelor of Commerce at Griffith University and a Master of Business Administration with a Dean's Academic Honour Board Recipient from the University of Queensland.
Anjana Reddy as General Manager Business Services, Anj has broad legal, commercial and HR experience, including senior Commercial roles for Coca-Cola Amatil, Queensland Government owned Electricity Generator Stanwell and Middle East construction JV Habtoor Leighton Group. Most recently with IOR Petroleum as Manager Commercial and Contracts. Anj has a Bachelor of Science and Law with First Class Honours from James Cook University, a Masters in Commercial and Contracts Law from University of Melbourne, a Masters of Business Administration from University of Queensland, Principles of International Law from Harvard Extension School and is a qualified General Practitioner.
Chris Ohlrich has been instrumental in the establishment of GMG. Under Chris' financial leadership GMG recently reported approximately AU$14 million in cash on its balance sheet, strong and effective shareholder relationships, a robust network within North American capital markets, and an effective finance and reporting team that has successfully lodged inaugural public Annual Financial Statements and ongoing quarterly disclosures. The Company understands and supports Chris' desire to be based with his family in Melbourne and thus resignation as CFO and Director as at 3rd June, 2022. The Board and Company thank him and wish him and his family every success in the future.
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 relation to the business opportunities that exist in relation to the Company's energy saving and energy storage offerings, and the affect of new appointments to the management team and advisory board on the development of the Company.
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 uncertain demand for the Company's products, the effectiveness of Company's deployment of resources, and the failure of GMG to attract and retain skilled personnel.
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 and the accuracy of the Company's expectations in the energy saving and storage space.
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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126578
GMG.v $GMGMF GMG Technical Advisory Committee, Leadership Team Additions, and CFO Change
by @newsfile on 6 Jun 2022, 04:51
Brisbane, Queensland, Australia--(Newsfile Corp. - June 6, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide an update to the composition of the Company's leadership team and Technical Advisory Committee which will support the Company as it proceeds into its next phase of development.
Additionally, the Company announces that after nearly six years with GMG, Chris Ohlrich, CFO and Director has decided to leave the Company for personal reasons, since relocating to Melbourne with his family. The current Financial Controller for the Company, Deborah Appleton, will act as the interim CFO until the Company completes a comprehensive executive search for his replacement which is being carried out by executive search firm Russell Reynolds Associates.
As the Company enters its next phase of development, GMG believes there are significant 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 sales from its energy saving business and support the continued maturation of its graphene-Aluminium Ion battery technology.
With this focus in mind, the Company is pleased to announce the establishment of a knowledgeable, internationally experienced, Technical Advisory Committee which will include the following members who will add deep insight, experience and connections to GMG:
Bob Galyen (USA) - Bob is a highly experienced executive in the battery energy storage world and science/engineering-based communities. Bob was previously the Chief Technology Officer (CTO) of Contemporary Amperex Technology Company Limited (CATL). CATL is widely known as the largest lithium ion battery manufacturer in the world - supplying electric vehicles and high efficiency storage systems. He serves on multiple Committees of Directors and Technical Advisory Boards.
Professor Dan Brett (UK) - Dan is Professor of Electrochemical Engineering at the University College London (UCL), a top ranked University, where he is a director of the Electrochemical Innovation Lab (EIL) and Advanced Propulsion Lab (APL). He is an academic founder of the Faraday Institution (a UK battery research programme with a consortium of over 20 UK universities and 50 businesses - including 450 researchers) and member of its Expert Panel.
Underpinning the Company's efforts to further strengthen its management team, GMG is excited to announce several recent new management team appointments, including:
Mark Chan Yan as Battery General Manager. Mark has significant international experience with global technology companies including Yokogawa and ABB having held General Management roles in Sales and Technical leadership, driving the commercialisation of prototypes or concepts into products and solutions at scale. Mark has a Bachelor of Science (Electrical & Electronic Engineering) from the University of Cape Town (UCT) in South Africa. Mark will lead our Battery division going forward.
Mark Lock as Energy Saving Solutions General Manager, Mark has deep experience in industrial equipment sales and service solutions working in sales and technical leadership roles for companies including Komatsu, Brambles, Coates Hire, Onsite Rental Group and Aurizon. Most recently for Waco Australasia - a company servicing mining and heavy industry with specialist access, protective coatings and maintenance solutions. Mark will lead our Energy Savings Solutions business going forward.
Jeffrey Morris as Chief Technology and Projects Officer, Jeff has over 25 years of experience in engineering and project management. Jeff has worked in the oil and gas, mining, water treatment, and renewable energy industries including for such companies as Caltex, Origin Energy, BHP and Shell owned QGC. Jeff specialises in design, construction, commissioning, energy management, and business development. Jeff has completed studies of a Master's Degree in Executive Business at Queensland University of Technology, Diploma of Project Management at University of New England, and Bachelor of Chemical Engineering at University of Queensland. Jeff will lead our technology and projects team going forward.
Tim Scheiwe as Head of Marketing, Tim has near 20 years of experience in industrial B2B marketing, product management and sales experience in selling industrial chemicals such as hydrocarbons, ethanol, surfactants and heat transfer fluids for such companies as Orica and Recochem to a variety of industry and applications. Tim has completed a Bachelor of Commerce at Griffith University and a Master of Business Administration with a Dean's Academic Honour Board Recipient from the University of Queensland.
Anjana Reddy as General Manager Business Services, Anj has broad legal, commercial and HR experience, including senior Commercial roles for Coca-Cola Amatil, Queensland Government owned Electricity Generator Stanwell and Middle East construction JV Habtoor Leighton Group. Most recently with IOR Petroleum as Manager Commercial and Contracts. Anj has a Bachelor of Science and Law with First Class Honours from James Cook University, a Masters in Commercial and Contracts Law from University of Melbourne, a Masters of Business Administration from University of Queensland, Principles of International Law from Harvard Extension School and is a qualified General Practitioner.
Chris Ohlrich has been instrumental in the establishment of GMG. Under Chris' financial leadership GMG recently reported approximately AU$14 million in cash on its balance sheet, strong and effective shareholder relationships, a robust network within North American capital markets, and an effective finance and reporting team that has successfully lodged inaugural public Annual Financial Statements and ongoing quarterly disclosures. The Company understands and supports Chris' desire to be based with his family in Melbourne and thus resignation as CFO and Director as at 3rd June, 2022. The Board and Company thank him and wish him and his family every success in the future.
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 relation to the business opportunities that exist in relation to the Company's energy saving and energy storage offerings, and the affect of new appointments to the management team and advisory board on the development of the Company.
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 uncertain demand for the Company's products, the effectiveness of Company's deployment of resources, and the failure of GMG to attract and retain skilled personnel.
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 and the accuracy of the Company's expectations in the energy saving and storage space.
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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126578
WHN.v Westhaven Drills 14.96 Metres of 5.69 g/t Gold and 343.57 g/t Silver, Including 8.50 Metres of 8.69 g/t Gold and 478.59 g/t Silver at the FMN Zone, Shovelnose Gold Property https://ceo.ca/@nasdaq/westhaven-drills-1496-metres-of-569-gt-gold-and
SKYG.v's $ARKZF Newfoundland neighbour still expanding the Keats zone...New Found Intersects 9.12 g/t Au Over 8.20m & 42.6 g/t Au Over 11.75m Starting 9m From Surface & 55.1 g/t Au Over 5.10m at the Keats Main Zone https://ceo.ca/@businesswire/new-found-intersects-912-gt-au-over-820m-426
ILI.v $ARXRF Investee Co continues to add to their Red Lake Ont. Gold camp holdings.
Trillium Gold Signs Option Agreement for Wenasaga Gold Project 35km from Dixie Deposit in Red Lake, Ontario
by @nasdaq on 2 Jun 2022, 04:00
VANCOUVER, British Columbia, June 02, 2022 (GLOBE NEWSWIRE) -- Trillium Gold Mines Inc. (TSXV:TGM, OTCQX:TGLDF, FRA:0702) (“Trillium Gold” or the “Company”) is pleased to announce that it has signed the Wenasaga Property Option Agreement (the “Agreement”) to acquire a 100% undivided interest in the Wenasaga Gold Property (the “Property”) held by Bounty Gold Corp. (“Bounty Gold”). The 1,692 hectare Property is contiguous to Trillium Gold’s Eastern Vision land package and effectively extends Trillium Gold’s dominant foothold along the Confederation belt on trend with Kinross Gold’s LP Fault Zone of the Dixie Deposit (see Figure 1).
Pursuant to the terms of the Agreement, in order to keep the option thereunder in good standing, Trillium is required to pay Bounty Gold an aggregate amount of Cdn $25,500 over a period of two years, issue an aggregate 64,500 common shares in the capital of Trillium over a period of two years, and grant to Bounty Gold a 2.0% Net Smelter Returns royalty on the claims comprising the Property upon exercise of the option. The Company has the right to repurchase 50% of the royalty (being 1.0%) by paying the holder an aggregate amount equal to $1,000,000.
The Common Shares of Trillium Gold issued under the Agreement will be subject to a four-month holding period from the closing date. The Agreement is subject to the approval of the TSXV and other applicable regulatory authorities, as well as the approval of the Ontario Mining Recorder to extend the due dates for assessment work.
About the Wenasaga Gold Property
The Wenasaga Gold Property is located 30km northeast of Ear Falls and 55km southeast of Red Lake. The Property is situated over a crustal fault structure1 and is on strike with Kinross’s Dixie Project, located 35km to the west. The Dixie Project hosts the LP Fault zone, a 4.6km long, drill tested zone containing 16 highly continuous bulk and 5 high-grade mineralized domains with attractive grades and true thickness.2 The Wenasaga Gold Property contains similar regional geology as that of the Dixie Project, underlain by felsic intrusive and metasedimentary rocks in the south, with felsic to intermediate-mafic metavolcanics rocks in the north. Historical drilling to the west and on strike along the crustal fault structure within the Wenasaga Gold Property intercepted highly deformed, chloritic and carbonate altered green basic metavolcanic rocks.3 Trillium’s exploration programs will focus on delineating the fault structure which transects the Wenasaga Gold Property.
The technical information presented in this news release has been reviewed and approved by William Paterson QP, P.Geo, Vice President of Exploration of Trillium Gold Mines, as defined by NI 43-101.
1 Lemkow, D.R., Sanborn-Barrie, M., Bailes, A.H., Percival, J.A., Rogers, N., Skulski, T., Anderson, S.D, McNicoll, V., Whalen, J.B., Tomlinson, K.Y., Parker, J.R., Hollings, P. and Young, M.2006: GIS compilation of geology and tectonostratigraphic assemblages, western Uchi Subprovince, western Superior Province, Ontario and Manitoba; Geological Survey of Canada Open File 5269, Manitoba Geological Survey Open File Report OF2006-30, Ontario Geological Survey Miscellaneous Release--Data 203. Scale 1:250 000. 1 CD-ROM.
2 Kinross Gold Corporation, BMO Investor Presentation February and March 2022, accessed 4 May 2022.
3 Assessment File: 52K14SE0024, Diamond Drill Report
Figure 1: Map showing Wenasaga Gold Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/e4aab7ba-ec45-4c9b-aed1-0ac0b2960991
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr
Interim Chairman, President & CEO
For further information, please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at dyoshimatsu@trilliumgold.com, (416) 722-2456, or info@trilliumgold.com.
Visit our website at www.trilliumgold.com.
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled the largest prospective land package in and around the Red Lake mining district in proximity to major mines and deposits, as well as the Confederation Lake and Birch-Uchi greenstone belts. Recently, the Company signed a definitive agreement for control over a significant portion of the Confederation Lake greenstone belt to more than 100km in length. In addition, the Company has interests in highly prospective properties in Larder Lake, Ontario.
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 statements
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations.
Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Figure 1
Map showing Wenasaga Gold Project
ILI.v $ARXRF Investee Co continues to add to their Red Lake Ont. Gold camp holdings...Trillium Gold Signs Agreement to Purchase Panama Lake Gold Project Located 80km from Kinross Gold’s Dixie Deposit in Red Lake, Ontario
by @nasdaq on 1 Jun 2022, 04:00
VANCOUVER, British Columbia, June 01, 2022 (GLOBE NEWSWIRE) -- Trillium Gold Mines Inc. (TSXV:TGM, OTCQX:TGLDF, FRA:0702) (“Trillium Gold” or the “Company”) is pleased to announce that it has signed a Purchase and Sale Agreement (the “Purchase Agreement”) to acquire all of the rights and title to the Panama Lake Property (the “Property”) held by St. Anthony Gold Corp. (“St. Anthony Gold”). The Panama Lake Gold Project is located approximately 80km from, and on the same structural trend as, Kinross Gold’s Dixie deposit and effectively extends Trillium Gold’s dominant contiguous foothold along the Confederation belt by 9,882 hectares (see Figure 1).
Pursuant to an assignment and assumption agreement to be entered into on the closing of the transactions contemplated by the Purchase Agreement (the “Assignment Agreement” together with the Original Option Agreement, the “Option Agreement”), among Trillium Gold and St. Anthony Gold, St. Anthony Gold will assign all of its rights and obligations under the Original Option Agreement to Trillium Gold. In addition, pursuant to the Assignment Agreement, Benton Resources Inc. (“Benton Resources”) will agree to consent to the assignment and will agree to register 100% of the Property’s title to Trillium Gold while retaining its 50% ownership interest in the Property until such time as Trillium Gold fulfils its option to earn 100% interest.
Terms of the Agreement
Pursuant to the terms of the Purchase Agreement, at closing, Trillium Gold will pay St. Anthony Gold, Cdn $500,000 in cash and issue 1,000,000 common shares in the capital of Trillium Gold (the “Common Shares”). In the event Trillium Gold acquires a 100% interest in the Property, St. Anthony Gold may cause Trillium Gold to exercise its Buy-Back Right under the Option Agreement (as further discussed below) to repurchase from Benton Resources one-half of the 2% Net Smelter Royalty on the Property and convey such repurchased 1% Net Smelter Royalty to St. Anthony Gold in exchange for a cash payment by St. Anthony Gold to Trillium Gold of $1,000,000.
Pursuant to the terms of the Option Agreement, in order for Trillium Gold to earn a 70% interest in the Property, it will pay to Benton Resources Cdn $100,000 in cash or the equivalent in Common Shares, based on the 10-day value weighted average price (“VWAP”) of Trillium Gold’s Common Shares traded on the TSXV prior to issuance by October 24, 2022, and complete $250,000 in exploration expenditures on the Project by April 24, 2023. Trillium Gold has the option to earn 100% ownership of the Property by paying Benton Resources a further $300,000 in cash or the equivalent in Common Shares, based on the 10-day VWAP of Trillium Gold’s Common Shares traded on the TSXV prior to issuance and complete $300,000 in exploration expenditures on the Project in each case by October 24, 2023. Benton Resources has the right to retain a 2.0% NSR on the Project, subject to the option of Trillium Gold to buy back one-half of such royalty (being 1.0%) for Cdn $1,000,000 (the “Buy Back Right”). In the event that Trillium Gold completes a NI 43-101 compliant resource estimate for the Property, Trillium Gold will issue to Benton Resources Common Shares with the amount of Common Shares issuable to be determined based on the number of ounces of gold in the NI 43-101 report and the market price of the Common Shares at the time.
The Common Shares of Trillium Gold issued under the Purchase Agreement will be subject to a four-month holding period from the closing date. The Purchase Agreement is subject to the approval of the TSXV and other applicable regulatory authorities.
About the Panama Lake Property
The Panama Lake Gold project consists of 9,882 hectares in the historic Red Lake Mining district and displays very similar regional geology to that of the Dixie deposit located along strike approximately 80km to the west. A long history of exploration activity has occurred on the Panama Lake Gold project since the late 1960s. Recent diamond drilling completed by Benton Resources and St. Anthony Gold have continued to intercept anomalous gold values from the Panama Zone and north of a highly anomalous gold grain till sample collected by the Geological Survey of Canada (GSC Open File 3038). Recently completed interpretation of newly acquired airborne geophysics have identified several linear magnetic trends that appear coincident with the Panama Zone and other gold occurrences found on the Panama Lake Gold Project. This new geophysical interpretation and recently obtained anomalous gold values from 2019-2022 diamond drill programs will allow future exploration programs to be focused on areas of high mineral potential.
The technical information presented in this news release has been reviewed and approved by William Paterson QP, P.Geo, Vice President of Exploration of Trillium Gold Mines, as defined by NI 43-101.
Figure 1: Map showing Trillium Gold’s Panama Lake Gold Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/0e183c76-76ee-441f-8fb2-a05c272101f1
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr
Interim Chairman, President & CEO
For further information, please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at dyoshimatsu@trilliumgold.com, (416) 722-2456, or info@trilliumgold.com.
Visit our website at www.trilliumgold.com.
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as the Confederation Lake and Birch-Uchi greenstone belts. Recently, the Company signed a definitive agreement for control over a significant portion of the Confederation Lake greenstone belt to more than 100km in length. In addition, the Company has interests in highly prospective properties in Larder Lake, Ontario.
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 statements
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations.
Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Figure 1
Map showing Trillium Gold’s Panama Lake Gold Project
GLM.ca $GOLXF Allan Barry Laboucan (of Stocks and Rocks) interviews Mike England CEO Golden Lake Exploration
May 30, 2022 Golden Lake Exploration has key ground in an emerging discovery area near i-80 Gold's new Ruby Deeps discovery and Paycore's new discovery. They have done some drilling with excellent results and have plenty of news flow ahead. Plus, they have a modest valuation around double their cash position.
SKYG.v's Quebec neighbour out with some very nice hits...STARR PEAK REPORTS 9.49% ZINC-EQUIVALENT OVER 5.90 METERS INCLUDING 3.05 METERS OF 4.17% COPPER AND 17.17% ZINC-EQUIVALENT
by @newswire on 26 May 2022, 05:00
VANCOUVER, BC, May 26, 2022 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTCQX: STRPF) is pleased to announce additional drill results from its ongoing drill program on its 100% owned NewMétal property ("NewMétal" or "the Property"), located in the Abitibi Greenstone Belt of Québec near the town of Normétal. See below Table 1 and Figure 1 showing assay results to date and Zinc Equivalent (Zn_Eq) calculations for mineralized intervals.
Highlights include:
Deep drilling of the Normetmar trend in hole STE-21-92-W3 has returned 9.49% Zn_Eq over 5.90 metres, including 3.05 m of 4.17% Cu, 17.17% Zn_Eq, 1.61 g/t Au and 45.20 g/t Ag
Johnathan More, Chairman and CEO of Starr Peak commented, "Drilling of the Deep zone has returned an interval of 9.49 % Zn_Eq over 5.90 m in hole STE-22-092-W3. The interval includes a high-grade section of 3.05 metres grading 4.17 % Cu which is indicative of the occurrence of high grade areas within the larger massive sulphide body at depth. One additional hole is being drilled from this wedge series, following which we plan to test the Normetmar zone occurrence below the Deep zone. The Deep zone is drilled down to approximately 1,000 m vertical depth. The past producing Normétal mine, located 900 m East of the Normetmar zone, was continuous down to a vertical depth of 2,400 meters. An existing hole will be drilled down several hundred more meters below the Deep zone. BHEM (Bore Hole EM) surveys will be done within the extended deep hole in search of massive sulphide mineralization near the hole, followed by drill testing of priority EM targets."
Zone
Hole No.
From
(m)
To
(m)
Length
(m)
Zn
(%)
Cu
(%)
Ag
(g/t)
Au
(g/t)
Zn_Eq
(%)*
Deep
STE-22-092-W3
1040.85
1046.75
5.90
0.10
2.31
24.94
0.86
9.49
Including
1041.60
1044.65
3.05
0.10
4.17
45.20
1.61
17.17
STE-21-88
No significant results
Table 1 – Deep zone results
Intervals are reported as drill core lengths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below
Figure 1: Longitudinal Section of Normetmar Satellite Deposit trend at depth. Drilling targets represented by a red star. Historical Drill Intercepts area provided in Zinc-Equivalent calculated using the formula in references. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn – Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under 75%), Tr – Traces, EOH – End of Hole. (CNW Group/Starr Peak Mining Ltd.)
The ongoing drill program continues targeting the Normetmar Deep zone, located directly below the Normetmar high-grade zinc deposit. A second rig continues targeting the 4 km long prolific Normetmar-Normétal lithological contact within the property, taking into account the many new massive sulphide intercepts from the 2021-2022 program. The third rig has ended testing the continuity of the historical gold occurrences on the Rousseau and Turgeon Lake Gold properties located East of Normétal, results are pending. Remaining results of winter drilling campaign, targeting the northern part of the Newmétal property, will be released as soon as the BHEM surveys are completed and analytical results are received.
Qualified Person
Alexis Paulin Bissonnette, Ing. (OIQ 5037621), an independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Alexis Paulin Bissonnette. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of one blank, one standard and one duplicate every 25 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. Additionally, sample weight is taken prior shipment to validate sample identity. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Zinc values over 30% are estimated by potentiometric titration, ZN-VOL50. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results. Although the percentage estimation is a good guide to the concentration of copper and zinc we can expect from future drill core assays, one must always be cautious about making estimations with respect to metal concentrations and on the basis of visual estimation.
References and disclosures
Normétal historical Mine and Normetmar:
Summary Report, Normetmar Project, January 1988 by L. Boivin
*Metal Factor zinc equivalent formula: Zn_eq (%)* Core length
Zn_eq (%) = Zn(%) + [Cu(%) * Cu price (lb) / Zn price (lb)] + [Ag(%) * Ag price (oz) * 14,632 / Zn price (lb) ] + [Au(%) * Au price (oz) * 14.632 / Zn price (lb)]
Zn_eq % based on US$: 1.2$/lb Zn, $3.5/lb Cu, $25/oz Ag, $1800/oz Au.
The historical information on the Longitudinal has not been validated otherwise than with the information inside historical reports and cross sections. Exact location of historical drill hole pierce points on the longitudinal may be different.
On Behalf of the Board of Directors of Starr Peak Mining Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Mining Ltd.
Starr Peak Mining Ltd. is a Canadian based mineral exploration company focused on the acquisition and exploration of precious and base metal mineral deposits. The primary objective of the Company is to acquire, explore and develop high potential and quality gold and base metal deposits and projects in the Americas. The Company is committed to creating long term shareholder value through mineral discoveries.
https://www.starrpeakminingltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered 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 in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Information:
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Starr Peak assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
Starr Peak Mining Ltd. Logo (CNW Group/Starr Peak Mining Ltd.)
SOURCE Starr Peak Mining Ltd.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/26/c2629.html
https://ceo.ca/@newswire/starr-peak-reports-949-zinc-equivalent-over-590
GMG.v $GMGMF GMG and Rio Tinto to Explore the Use and Development of GMG's Energy Saving Products and Graphene Aluminium-Ion Battery
Brisbane, Queensland, Australia--(Newsfile Corp. - May 18, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to announce that GMG and Rio Tinto Group ("Rio Tinto") have signed a non-binding agreement to collaborate on energy saving and storage solutions. Together, GMG and Rio Tinto will explore the use of energy saving products in Rio Tinto's operations, explore working together to support GMG's development of Graphene Aluminium-Ion ("G+Al") batteries, and collaborate on mining and other industrial applications.
Under a non-binding term sheet, GMG and Rio Tinto will:
discuss conducting trials of GMG's energy saving products in both existing applications and new industrial applications, to deliver energy savings and associated carbon reductions to support Rio Tinto's decarbonisation objectives;
explore supply of aluminium materials, one of the key components in G+Al battery technology, by Rio Tinto to GMG with an aim to optimise and accelerate battery development;
investigate the use of G+Al batteries in various Rio Tinto mining and industrial applications. Success could see significant performance enhancements and support Rio Tinto's transition to low carbon operations.
Rio Tinto's Chief Scientist, Nigel Steward, commented, "Our companies share a vision of a low carbon future and we see great potential in the partnership. We aim to develop a truly green battery from our low carbon aluminium, which could transform the way we supply and store energy to anything from a leaf blower to a mining haul truck. It is a very exciting prospect and we are looking forward to bringing together the technical ingenuity of both Rio Tinto and GMG."
GMG's Managing Director and CEO, Craig Nicol, commented: "We are excited to be collaborating with Rio Tinto, one of the world's largest mining companies who are committed to leveraging leading technologies for efficient and low carbon operations. The collaboration with Rio Tinto adds another key element in GMG's leading partnerships to develop our G+Al Battery following recent agreements with Wood for scaling graphene production and Bosch for automated battery production. Rio Tinto's supply of aluminium and development of material industrial battery applications also add to our battery development plans. Together, with the partnerships already established, this is another important step towards GMG's goal to become a major global supplier of energy saving products as well as G+AI Batteries as we continue to de-risk the commercial scale up of this technology."
About Rio Tinto
Rio Tinto is a leading mining and metals company, operating in 35 countries and producing high-quality iron ore, copper, aluminium, and other materials that are essential for the low-carbon transition. Rio Tinto is committed to reaching net-zero by 2050 and is targeting a 15% reduction in scope 1&2 emissions by 2025 (from a 2018 baseline) and a 50% reduction by 2030. For more information visit riotinto.com.
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 regarding timing, completion and the final terms and conditions of binding agreements to be entered into between Rio Tinto and the Company; Rio Tinto's role as a technical development partner and supplier of aluminium and the impacts and benefits arising therefrom; GMG's ability to produce its products and the benefits arising from such products; and the commercial progress and technical characteristics of certain products; the ability of GMG's products to enhance Rio Tinto's performance with regards to certain industrial applications, and reduce carbon emissions.
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 that GMG and Rio Tinto will be unable to agree on terms and conditions for binding agreements; that such terms and conditions will differ from the Company's expectations; that results and impacts arising from any binding agreements between GMG and Rio Tinto will differ from the Company's expectations; changes to regional and global market trends; and that the Company will be unable to research, develop and produce certain products and technologies.
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 enter into binding agreements with Rio Tinto on the terms consistent with the Company's expectations; that benefits and impacts arising from binding agreements between the Company and Rio Tinto will be consistent with the Company's expectations; the Company's ability to research, develop and test its products within anticipated timelines; and market demand for the Company's products.
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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124459
GMG.v $GMGMF GMG and Rio Tinto to Explore the Use and Development of GMG's Energy Saving Products and Graphene Aluminium-Ion Battery
Brisbane, Queensland, Australia--(Newsfile Corp. - May 18, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to announce that GMG and Rio Tinto Group ("Rio Tinto") have signed a non-binding agreement to collaborate on energy saving and storage solutions. Together, GMG and Rio Tinto will explore the use of energy saving products in Rio Tinto's operations, explore working together to support GMG's development of Graphene Aluminium-Ion ("G+Al") batteries, and collaborate on mining and other industrial applications.
Under a non-binding term sheet, GMG and Rio Tinto will:
discuss conducting trials of GMG's energy saving products in both existing applications and new industrial applications, to deliver energy savings and associated carbon reductions to support Rio Tinto's decarbonisation objectives;
explore supply of aluminium materials, one of the key components in G+Al battery technology, by Rio Tinto to GMG with an aim to optimise and accelerate battery development;
investigate the use of G+Al batteries in various Rio Tinto mining and industrial applications. Success could see significant performance enhancements and support Rio Tinto's transition to low carbon operations.
Rio Tinto's Chief Scientist, Nigel Steward, commented, "Our companies share a vision of a low carbon future and we see great potential in the partnership. We aim to develop a truly green battery from our low carbon aluminium, which could transform the way we supply and store energy to anything from a leaf blower to a mining haul truck. It is a very exciting prospect and we are looking forward to bringing together the technical ingenuity of both Rio Tinto and GMG."
GMG's Managing Director and CEO, Craig Nicol, commented: "We are excited to be collaborating with Rio Tinto, one of the world's largest mining companies who are committed to leveraging leading technologies for efficient and low carbon operations. The collaboration with Rio Tinto adds another key element in GMG's leading partnerships to develop our G+Al Battery following recent agreements with Wood for scaling graphene production and Bosch for automated battery production. Rio Tinto's supply of aluminium and development of material industrial battery applications also add to our battery development plans. Together, with the partnerships already established, this is another important step towards GMG's goal to become a major global supplier of energy saving products as well as G+AI Batteries as we continue to de-risk the commercial scale up of this technology."
About Rio Tinto
Rio Tinto is a leading mining and metals company, operating in 35 countries and producing high-quality iron ore, copper, aluminium, and other materials that are essential for the low-carbon transition. Rio Tinto is committed to reaching net-zero by 2050 and is targeting a 15% reduction in scope 1&2 emissions by 2025 (from a 2018 baseline) and a 50% reduction by 2030. For more information visit riotinto.com.
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 regarding timing, completion and the final terms and conditions of binding agreements to be entered into between Rio Tinto and the Company; Rio Tinto's role as a technical development partner and supplier of aluminium and the impacts and benefits arising therefrom; GMG's ability to produce its products and the benefits arising from such products; and the commercial progress and technical characteristics of certain products; the ability of GMG's products to enhance Rio Tinto's performance with regards to certain industrial applications, and reduce carbon emissions.
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 that GMG and Rio Tinto will be unable to agree on terms and conditions for binding agreements; that such terms and conditions will differ from the Company's expectations; that results and impacts arising from any binding agreements between GMG and Rio Tinto will differ from the Company's expectations; changes to regional and global market trends; and that the Company will be unable to research, develop and produce certain products and technologies.
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 enter into binding agreements with Rio Tinto on the terms consistent with the Company's expectations; that benefits and impacts arising from binding agreements between the Company and Rio Tinto will be consistent with the Company's expectations; the Company's ability to research, develop and test its products within anticipated timelines; and market demand for the Company's products.
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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124459
ILI.v $ARXRF Stockwatch Diamond & Specialty Minerals Summary for May 12, 2022
2022-05-12 20:09 ET - Market Summary
by Will Purcell
J.C. St-Amour's Imagine Lithium Inc. ( $ILI ) lost one-half cent to eight cents on 137,000 shares on word that it has drilled an eight-metre interval averaging 1.28 per cent lithium oxide at its Jackpot project in the Georgia Lake district, just north of Nipigon in Northern Ontario. The assays are new, but the drilling is not: The holes were completed in 2018 and Imagine Lithium has gotten around to testing this unsampled core just now. A second hole produced 1.02 per cent lithium oxide over 8.8 metres and while the two others also encountered lithium, the grades were lower and the intervals shorter.Mr. St-Amour, president, says that once he and his crew "refocused on the Jackpot lithium project," they recognized that the old core displayed significant but unsampled spodumene mineralization. The assays, he cheers, "confirm the visuals that we have been seeing." Accordingly, the visually-inclined Mr. St-Amour is looking forward to seeing results from the company's current drill program. That drilling, he cheers, is designed to test the main dike swarm at Jackpot, and to expand on the known historical resource area. The drilling is going well, he concludes, as samples from five holes are now at the lab.Jackpot does indeed have a historical resource, based on two of several known lithium-bearing pegmatite dikes. One of those dikes supported a calculation listing two million tonnes at 1.09 per cent lithium oxide, the other dike contained 750,000 tonnes at 1.38 per cent. Those grades are intriguing and are in line with what has been turning up elsewhere in the Georgia Lake area.
ILI.v $ARXRF Stockwatch Diamond & Specialty Minerals Summary for May 12, 2022
2022-05-12 20:09 ET - Market Summary
by Will Purcell
J.C. St-Amour's Imagine Lithium Inc. ( $ILI ) lost one-half cent to eight cents on 137,000 shares on word that it has drilled an eight-metre interval averaging 1.28 per cent lithium oxide at its Jackpot project in the Georgia Lake district, just north of Nipigon in Northern Ontario. The assays are new, but the drilling is not: The holes were completed in 2018 and Imagine Lithium has gotten around to testing this unsampled core just now. A second hole produced 1.02 per cent lithium oxide over 8.8 metres and while the two others also encountered lithium, the grades were lower and the intervals shorter.Mr. St-Amour, president, says that once he and his crew "refocused on the Jackpot lithium project," they recognized that the old core displayed significant but unsampled spodumene mineralization. The assays, he cheers, "confirm the visuals that we have been seeing." Accordingly, the visually-inclined Mr. St-Amour is looking forward to seeing results from the company's current drill program. That drilling, he cheers, is designed to test the main dike swarm at Jackpot, and to expand on the known historical resource area. The drilling is going well, he concludes, as samples from five holes are now at the lab.Jackpot does indeed have a historical resource, based on two of several known lithium-bearing pegmatite dikes. One of those dikes supported a calculation listing two million tonnes at 1.09 per cent lithium oxide, the other dike contained 750,000 tonnes at 1.38 per cent. Those grades are intriguing and are in line with what has been turning up elsewhere in the Georgia Lake area.
SKYG.v $SRKZF Sky Gold Commences Work on The Virginia Property, Newfoundland
by @accesswire on 12 May 2022, 05:03
VANCOUVER, BC / ACCESSWIRE / May 12, 2022 / Sky Gold Corp. (TSX-V:SKYG) (OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") announces a field program has commenced on the Company's Virginia property located contiguous to the north-eastern portion of the Queensway Gold Project, owned by New Found Gold Corp. and the south-west portion of Labrador Gold's Kingsway project.
Prospecting will focus on known vein occurrences at Virginia and consist of rock sampling and trenching.
The Company continues to work on plans for an upcoming work program at Mustang in the near future.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp's Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for precious (silver and gold) mineralization and CRD (Carbonate Replacement Deposit) base metal mineralization. The Company owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
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: 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: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/701096/Sky-Gold-Commences-Work-on-The-Virginia-Property-Newfoundland
$ILI.v $ARXRF Imagine Lithium Reports Multiple Results from Jackpot Lithium Project Including 8 m of 1.28% Li2O
by @newsfile on 11 May 2022, 04:01
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2022) - Imagine Lithium Inc. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce assay results from previously unsampled core that were drilled in 2018. The drillholes tested lithium-bearing granitic pegmatite dikes within the main dike swarm of the Jackpot project. Results include 8 m grading 1.28% lithium oxide (Li2O) (Hole J-18-M-04) and 8.8 m grading 1.02% Li2O (Hole J-18-M-03). See Table 1 below for detailed results.
J.C. St-Amour, President of Imagine Lithium commented, "Once we refocused on the Jackpot Lithium project our new geological team reviewed all the historical drill core from the 2018 drill program and immediately identified significant spodumene mineralization in unsampled core. I am pleased that the assay results confirm the visuals that we have been seeing at the Jackpot project. "We are looking forward to seeing results from our current drill program, which is designed to not only test the main dike swarm but also to expand on the known historical resource area and investigate the extents of the known dikes as well as previously undrilled lithium showings. The drill program is progressing well, with five holes completed with samples in the lab."
Table 1: Assay Results from Previously Unsampled Drill Holes (2018), Jackpot Property.
DDH_ID Li2O (wt.%) Interval (m) From (m) To (m)
J_18_M_04 1.28 8.00 36.00 44.00
J-18_M_03 1.02 8.80 66.20 75.00
J_18_M_02 0.81 2.70 77.30 80.00
and 0.43 4.20 82.00 86.20
J_18_M_01 0.69 4.00 80.00 84.00
Figure 1: Collar Locations for the 2018 and 2022 Drill Programs.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2962/123571_34f601bc84b84b77_002.jpg
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2962/123571_34f601bc84b84b77_002full.jpg
Further to our news release dated March 21, 2022, the Company announces that the issuance of 8,000 common shares for the purchase of additional ground within the Jackpot property are payable 50% to Gravel Ridge Resources Ltd. (controlled by Michael Frymire and Pamela Katie Misener) and 50% to 154423 Ontario Inc. (controlled by Julia English and Perry English). In addition, the agreement with the First Nations Groups was signed on March 18, 2022.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently acquired additional claims with identified lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
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: 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 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).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123571
SKYG.v $SRKZF Newfoundland Neighbour Labrador Gold – Drill Results Expanding High Grade Gold At The Big Vein Target And Initial Drill Results From The Pristine Target
Of note from the Roger Moss Interview to $SKYG holders - 3 holes completed at Golden Glove -adjacent to SKYG.v's Virginia claimblock according to Roger Moss at the 10:00 mins mark
-should be seeing those results in the next couple of months he figures
-lab delays are now down to 3months from core submission down from 5 months during the pandemic
http://www.kereport.com/2022/05/06/labrador-gold-drill-results-expanding-high-grade-gold-at-the-big-vein-target-and-initial-drill-results-from-the-pristine-target/
SKYG.v $SRKZF Newfoundland Neighbour NFG.v $NFGC New Found Makes Two New Near Surface Discoveries North of the Keats Zone Intersecting 275 g/t Au Over 2.15m and 8.70 g/t Au Over 6.75m
https://ceo.ca/@businesswire/new-found-makes-two-new-near-surface-discoveries-north
ILI.v $ARXRF Imagine Lithium Sells Its Interests in Red Lake
by @newsfile on 27 Apr 2022, 04:0
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") announced today that it has signed amended agreements to divest of all of its holdings in the Red Lake area to Trillium Gold Mines Inc. (TSXV: TGM) ("Trillium"), and Pegasus Resources Inc. ("Pegasus").
Further to its news release dated December 15, 2021, Trillium and Imagine have signed an amended Definitive Agreement (the "Definitive Agreement") whereby Trillium will acquire a majority of Imagine's property holdings known as the Eastern Vision Project, located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt in the Red Lake District, Ontario. Under the terms of the Definitive Agreement, Trillium will acquire 13,958 hectares between the Fredart, Confederation North, and Confederation South properties for a consideration of 2,800,000 common shares of Trillium and $175,000 in cash.
In addition, Imagine has entered into an Amending, Settlement and Termination Agreement with Pegasus (the "Pegasus Agreement") with respect to the February 3, 2020 agreements relating to the Garnet Lake property and portions of the Fredart property (the "Option Agreements"). Under the Pegasus Agreement, Pegasus has agreed to issue to Imagine 5,000,000 common shares of Pegasus in exchange for delivery of certain payment obligations under the Option Agreements and Imagine relinquishing its right to complete the option for the claims under the Option Agreements. The Definitive Agreement and the Pegasus Agreement remain subject to TSX Venture Exchange approval.
J.C. St-Amour, President of Imagine commented, "The transactions to divest of the Red Lake properties gives Imagine, through its share ownership in Trillium and Pegasus, exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area. This also allows us to focus our exploration efforts on our 100% owned Jackpot Lithium project where a drill program is actively underway."
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently acquired additional claims with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
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: 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 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).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121787
ILI.v $ARXRF Imagine Lithium Sells Its Interests in Red Lake
by @newsfile on 27 Apr 2022, 04:0
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") announced today that it has signed amended agreements to divest of all of its holdings in the Red Lake area to Trillium Gold Mines Inc. (TSXV: TGM) ("Trillium"), and Pegasus Resources Inc. ("Pegasus").
Further to its news release dated December 15, 2021, Trillium and Imagine have signed an amended Definitive Agreement (the "Definitive Agreement") whereby Trillium will acquire a majority of Imagine's property holdings known as the Eastern Vision Project, located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt in the Red Lake District, Ontario. Under the terms of the Definitive Agreement, Trillium will acquire 13,958 hectares between the Fredart, Confederation North, and Confederation South properties for a consideration of 2,800,000 common shares of Trillium and $175,000 in cash.
In addition, Imagine has entered into an Amending, Settlement and Termination Agreement with Pegasus (the "Pegasus Agreement") with respect to the February 3, 2020 agreements relating to the Garnet Lake property and portions of the Fredart property (the "Option Agreements"). Under the Pegasus Agreement, Pegasus has agreed to issue to Imagine 5,000,000 common shares of Pegasus in exchange for delivery of certain payment obligations under the Option Agreements and Imagine relinquishing its right to complete the option for the claims under the Option Agreements. The Definitive Agreement and the Pegasus Agreement remain subject to TSX Venture Exchange approval.
J.C. St-Amour, President of Imagine commented, "The transactions to divest of the Red Lake properties gives Imagine, through its share ownership in Trillium and Pegasus, exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area. This also allows us to focus our exploration efforts on our 100% owned Jackpot Lithium project where a drill program is actively underway."
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently acquired additional claims with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
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: 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 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).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121787
ILI.v $ARXRF Georgia Lakes neighbour (ULT.v) attracts a chinese bid by a
$TSLA supplier https://www.yicaiglobal.com/news/china-yahua-industrial-to-buy-13-of-canadian-lithium-startup-for-usd4-million
ILI.v $ARXRF Georgia Lakes neighbour (ULT.v) attracts a chinese bid by a
$TSLA supplier https://www.yicaiglobal.com/news/china-yahua-industrial-to-buy-13-of-canadian-lithium-startup-for-usd4-million
BARU.v $BARUF Baru Gold Provides Update on Community Relations on Sangihe Island and Legal Victory for Indonesian Government
by @thenewswire on 22 Apr 2022, 05:30
(TheNewswire)
Baru Gold Corp.
April 22, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to provide an update on its continuing community relations efforts on Sangihe Island and the dismissal of a lawsuit filed in Jakarta in August of 2021, against the Ministry of Energy and Mineral Resources (“MEMR”) in Indonesia, in relation to Baru’s subsidiary, PT Tambang Mas Sangihe (“TMS”).
CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES FOR 2022-Q1
Education
Second donation made to SD Inpres Bentung to participate in the next level of Clean School competition
Provided WiFi to support students on their assignments
Provided mentoring and internship to a local university geology student
Environment
Cleaned up landslide across Bentung-Lesabe village access road
Built embankments at Salurang village with the donation and delivery of 1,000 sandbags
Provided basic necessities for 24 families effected by the disaster at Santiago, Tahuna
Economy (micro/small/medium enterprises)
Provided two laptops for the local village office at Subdistrict Tabukan Selatan Tengah
Continued support of a youth group at Binebase village in fisheries business
Commitment to support the next generation by establishing a relationship with Indonesian student movement on Sangihe Island
Sport
Sponsored Tabukan Selatan football team to participate in regional competition
Community
Donated fire extinguishers to the police station at Tabukan Selatan
Terry Filbert, CEO of Baru Gold, commented, “Baru is committed to ongoing CSR activities and will continue to keep our shareholders informed on a quarterly basis. Baru’s commitment is to both our staff and the community we support through economic, safety and environmental initiatives that include safety equipment for staff that exceed legal requirements, water monitoring, and the procurement of supplies and equipment locally.”
LEGAL UPDATE
On April 20, 2022, a lawsuit filed in Jakarta Administrative Court (“Court”) against the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) was dismissed. While Baru was not named in the lawsuit, the Court granted permission for a representative of Baru to attend the proceedings in support of MEMR, as it relates to the mining permit that was granted to the Company’s 70% owned subsidiary, PT Tambang Mas Sangihe. In addition to the dismissal, the presiding judge ordered the plaintiff to pay the costs of the litigation.
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.
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.
BARU.v $BARUF Baru Gold Provides Update on Community Relations on Sangihe Island and Legal Victory for Indonesian Government
by @thenewswire on 22 Apr 2022, 05:30
(TheNewswire)
Baru Gold Corp.
April 22, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to provide an update on its continuing community relations efforts on Sangihe Island and the dismissal of a lawsuit filed in Jakarta in August of 2021, against the Ministry of Energy and Mineral Resources (“MEMR”) in Indonesia, in relation to Baru’s subsidiary, PT Tambang Mas Sangihe (“TMS”).
CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES FOR 2022-Q1
Education
Second donation made to SD Inpres Bentung to participate in the next level of Clean School competition
Provided WiFi to support students on their assignments
Provided mentoring and internship to a local university geology student
Environment
Cleaned up landslide across Bentung-Lesabe village access road
Built embankments at Salurang village with the donation and delivery of 1,000 sandbags
Provided basic necessities for 24 families effected by the disaster at Santiago, Tahuna
Economy (micro/small/medium enterprises)
Provided two laptops for the local village office at Subdistrict Tabukan Selatan Tengah
Continued support of a youth group at Binebase village in fisheries business
Commitment to support the next generation by establishing a relationship with Indonesian student movement on Sangihe Island
Sport
Sponsored Tabukan Selatan football team to participate in regional competition
Community
Donated fire extinguishers to the police station at Tabukan Selatan
Terry Filbert, CEO of Baru Gold, commented, “Baru is committed to ongoing CSR activities and will continue to keep our shareholders informed on a quarterly basis. Baru’s commitment is to both our staff and the community we support through economic, safety and environmental initiatives that include safety equipment for staff that exceed legal requirements, water monitoring, and the procurement of supplies and equipment locally.”
LEGAL UPDATE
On April 20, 2022, a lawsuit filed in Jakarta Administrative Court (“Court”) against the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) was dismissed. While Baru was not named in the lawsuit, the Court granted permission for a representative of Baru to attend the proceedings in support of MEMR, as it relates to the mining permit that was granted to the Company’s 70% owned subsidiary, PT Tambang Mas Sangihe. In addition to the dismissal, the presiding judge ordered the plaintiff to pay the costs of the litigation.
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.
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.
BARU.v $BARUF Baru Gold Provides Update on Community Relations on Sangihe Island and Legal Victory for Indonesian Government
by @thenewswire on 22 Apr 2022, 05:30
(TheNewswire)
Baru Gold Corp.
April 22, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to provide an update on its continuing community relations efforts on Sangihe Island and the dismissal of a lawsuit filed in Jakarta in August of 2021, against the Ministry of Energy and Mineral Resources (“MEMR”) in Indonesia, in relation to Baru’s subsidiary, PT Tambang Mas Sangihe (“TMS”).
CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES FOR 2022-Q1
Education
Second donation made to SD Inpres Bentung to participate in the next level of Clean School competition
Provided WiFi to support students on their assignments
Provided mentoring and internship to a local university geology student
Environment
Cleaned up landslide across Bentung-Lesabe village access road
Built embankments at Salurang village with the donation and delivery of 1,000 sandbags
Provided basic necessities for 24 families effected by the disaster at Santiago, Tahuna
Economy (micro/small/medium enterprises)
Provided two laptops for the local village office at Subdistrict Tabukan Selatan Tengah
Continued support of a youth group at Binebase village in fisheries business
Commitment to support the next generation by establishing a relationship with Indonesian student movement on Sangihe Island
Sport
Sponsored Tabukan Selatan football team to participate in regional competition
Community
Donated fire extinguishers to the police station at Tabukan Selatan
Terry Filbert, CEO of Baru Gold, commented, “Baru is committed to ongoing CSR activities and will continue to keep our shareholders informed on a quarterly basis. Baru’s commitment is to both our staff and the community we support through economic, safety and environmental initiatives that include safety equipment for staff that exceed legal requirements, water monitoring, and the procurement of supplies and equipment locally.”
LEGAL UPDATE
On April 20, 2022, a lawsuit filed in Jakarta Administrative Court (“Court”) against the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) was dismissed. While Baru was not named in the lawsuit, the Court granted permission for a representative of Baru to attend the proceedings in support of MEMR, as it relates to the mining permit that was granted to the Company’s 70% owned subsidiary, PT Tambang Mas Sangihe. In addition to the dismissal, the presiding judge ordered the plaintiff to pay the costs of the litigation.
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.
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.
ILI.v $ARXRF holding Trillium Gold Intersects New East-West Structures at Newman Todd https://ceo.ca/@nasdaq/trillium-gold-intersects-new-east-west-structures-at
ILI.v $ARXRF holding Trillium Gold Intersects New East-West Structures at Newman Todd https://ceo.ca/@nasdaq/trillium-gold-intersects-new-east-west-structures-at
SKYG.v $SRKZF Newfoundland Neighbour NFG.v $NFGC Investor Eric Sprott makes his biggest bet yet on what he believes could be 'the greatest gold discovery in the history of Canada'
https://financialpost.com/commodities/mining/eric-sprott-makes-his-biggest-bet-yet-on-what-he-believes-could-be-the-greatest-gold-discovery-in-the-history-of-canada
SKYG.v $SRKZF Newfoundland Neighbour NFG.v $NFGC Investor Eric Sprott makes his biggest bet yet on what he believes could be 'the greatest gold discovery in the history of Canada'
https://financialpost.com/commodities/mining/eric-sprott-makes-his-biggest-bet-yet-on-what-he-believes-could-be-the-greatest-gold-discovery-in-the-history-of-canada
BARU.v $BARUF Baru Gold Completes Land Clearing and Provides Construction Update at Sangihe Gold Project
by @thenewswire on 13 Apr 2022, 06:30
(TheNewswire)
Baru Gold Corp.
April 13, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce it has substantially completed clearing of the land and commenced earthworks on the heap leach pad for the Sangihe gold project.
Initial capacity of the heap operation has been set at 100,000 tonnes. The heap leach pad measures 127 by 64 meters. There are currently more than 60 labourers working on the construction project and 90% are local hires from Sangihe Island. This number will significantly increase once production commences. All equipment required for construction will be contracted on the island. Materials that are not available locally will be sourced from Manado which is in the same province as Sangihe. The construction of the heap leach facility does not require the removal or relocation of any residences.
Baru Gold, along with its contractors, have cleared the principal production area, including grubbing and are in the process of rough grading to plan. The next focus will be to construct pond berms and compacting to engineering specifications in preparation for installation of the leach pad liner and processing facility installation.
Heap leaching is an industrial mining process used to extract precious metals and other compounds from ore using a series of chemical reactions that absorb specific minerals and re-separate them after their division from other earth materials. A form of lower cost methods of mining, heap leach mining differs in that it places ore on a liner, then adds the chemicals via drip systems to the ore, whereas in situ mining lacks these liners and pulls pregnant solution up to obtain the minerals. Heap leaching is widely used in modern large-scale mining operations as it produces the desired concentrates at a lower cost compared to conventional processing methods such as flotation, agitation, and vat leaching.
Terry Filbert, President, CEO and Director, commented, “The start of construction of the pads and pond facilities is another milestone for our project at Sangihe. For many years, I have envisioned the goal of gold production being realized and I could not be more thrilled. Once operations are running smoothly and reliable cashflow is being generated at Sangihe, we can parlay that success to the next phase of growth at Baru Gold. With land acquisition on-going and preparations for the drilling program approved and ready to begin, we foresee a very busy and exciting year.”
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.
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.
BARU.v $BARUF Baru Gold Completes Land Clearing and Provides Construction Update at Sangihe Gold Project
by @thenewswire on 13 Apr 2022, 06:30
(TheNewswire)
Baru Gold Corp.
April 13, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce it has substantially completed clearing of the land and commenced earthworks on the heap leach pad for the Sangihe gold project.
Initial capacity of the heap operation has been set at 100,000 tonnes. The heap leach pad measures 127 by 64 meters. There are currently more than 60 labourers working on the construction project and 90% are local hires from Sangihe Island. This number will significantly increase once production commences. All equipment required for construction will be contracted on the island. Materials that are not available locally will be sourced from Manado which is in the same province as Sangihe. The construction of the heap leach facility does not require the removal or relocation of any residences.
Baru Gold, along with its contractors, have cleared the principal production area, including grubbing and are in the process of rough grading to plan. The next focus will be to construct pond berms and compacting to engineering specifications in preparation for installation of the leach pad liner and processing facility installation.
Heap leaching is an industrial mining process used to extract precious metals and other compounds from ore using a series of chemical reactions that absorb specific minerals and re-separate them after their division from other earth materials. A form of lower cost methods of mining, heap leach mining differs in that it places ore on a liner, then adds the chemicals via drip systems to the ore, whereas in situ mining lacks these liners and pulls pregnant solution up to obtain the minerals. Heap leaching is widely used in modern large-scale mining operations as it produces the desired concentrates at a lower cost compared to conventional processing methods such as flotation, agitation, and vat leaching.
Terry Filbert, President, CEO and Director, commented, “The start of construction of the pads and pond facilities is another milestone for our project at Sangihe. For many years, I have envisioned the goal of gold production being realized and I could not be more thrilled. Once operations are running smoothly and reliable cashflow is being generated at Sangihe, we can parlay that success to the next phase of growth at Baru Gold. With land acquisition on-going and preparations for the drilling program approved and ready to begin, we foresee a very busy and exciting year.”
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.
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.
BARU.v $BARUF Baru Gold Completes Land Clearing and Provides Construction Update at Sangihe Gold Project
by @thenewswire on 13 Apr 2022, 06:30
(TheNewswire)
Baru Gold Corp.
April 13, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce it has substantially completed clearing of the land and commenced earthworks on the heap leach pad for the Sangihe gold project.
Initial capacity of the heap operation has been set at 100,000 tonnes. The heap leach pad measures 127 by 64 meters. There are currently more than 60 labourers working on the construction project and 90% are local hires from Sangihe Island. This number will significantly increase once production commences. All equipment required for construction will be contracted on the island. Materials that are not available locally will be sourced from Manado which is in the same province as Sangihe. The construction of the heap leach facility does not require the removal or relocation of any residences.
Baru Gold, along with its contractors, have cleared the principal production area, including grubbing and are in the process of rough grading to plan. The next focus will be to construct pond berms and compacting to engineering specifications in preparation for installation of the leach pad liner and processing facility installation.
Heap leaching is an industrial mining process used to extract precious metals and other compounds from ore using a series of chemical reactions that absorb specific minerals and re-separate them after their division from other earth materials. A form of lower cost methods of mining, heap leach mining differs in that it places ore on a liner, then adds the chemicals via drip systems to the ore, whereas in situ mining lacks these liners and pulls pregnant solution up to obtain the minerals. Heap leaching is widely used in modern large-scale mining operations as it produces the desired concentrates at a lower cost compared to conventional processing methods such as flotation, agitation, and vat leaching.
Terry Filbert, President, CEO and Director, commented, “The start of construction of the pads and pond facilities is another milestone for our project at Sangihe. For many years, I have envisioned the goal of gold production being realized and I could not be more thrilled. Once operations are running smoothly and reliable cashflow is being generated at Sangihe, we can parlay that success to the next phase of growth at Baru Gold. With land acquisition on-going and preparations for the drilling program approved and ready to begin, we foresee a very busy and exciting year.”
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.
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.
NFG.v $NFGC Eric Sprott continues to support the Gander Gold Belt ...
Eric Sprott Announces Investment in New Found Gold Corp.
by @newsfile on 12 Apr 2022, 03:00
Toronto, Ontario--(Newsfile Corp. - April 12, 2022) - Eric Sprott announces that, on April 11, 2022, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, entered into an agreement to purchase 15,000,000 common shares (Shares) of New Found Gold Corp., which will result in an increase of ownership of approximately 9.1% of the outstanding Shares since the filing date of the most recent Early Warning Report, assuming the number of outstanding Shares remains at 164,244,845 as reported in New Found Gold's .most recent management's discussion and analysis dated March 10, 2022.
The Shares were purchased by way of private agreement with a single vendor at a price, including commissions, of less than 115% of the "market price" of the Shares in reliance on the" private agreement exemption" in Section 4.2 of National Instrument 62-104 Take-Over Bids and Issuer Bids. The first tranche of this private agreement transaction is expected to close occur on or about April 27, 2022 for 8,250,000 Shares at $8.35 per Share for consideration of $68,887,500. A second tranche closing is expected to occur on or about August 5, 2022 for 6,750,000 Shares at $8.45 per Share for consideration of $57,037,500, for a total consideration of $125,925,000 for 15,000,000 Shares.
After the closing of the two tranches, Mr. Sprott will own and control 51,601,200 Shares, representing approximately 31.4% of the outstanding Shares (and after the first tranche, 44,851,200 Shares, representing approximately 27.3% of the outstanding Shares). Mr. Sprott currently beneficially owns and controls 36,601,200 common shares representing approximately 22.3% of the outstanding Shares.
The Shares are being acquired by Mr. Sprott through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of New Found Gold including on the open market or through private acquisitions or sell securities of New Found Gold including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
New Found Gold Corp is located at Suite 1430 - 800 West Pender Street, Vancouver, BC V6C 2V6. A copy of Mr. Sprott's early warning report will appear on New Found Gold's profile on SEDAR and may also be obtained by calling (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120147
SKYG.v $SRKZF Newfoundland neighbour out with more solid high grade assays...New Found Intersects 21.12 g/t Au Over 7.20m, 79.81 g/t Au Over 3.00m & 119.45 g/t Over 2.40m at Keats Zone & Identifies New High-Grade Near Surface Mineralization
by @businesswire on 11 Apr 2022, 03:30
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 45 diamond drill holes designed to expand the high-grade gold mineralization at the Keats discovery located within a 9.45km segment of the +100km regional-scale Appleton Fault Zone (‘AFZ’) on the northern portion of Queensway project that New Found is targeting with a 400,000m drill campaign. The Queensway project comprises an approximately +1500km2 area with initial exploration focus in areas accessed via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220411005332/en/
Figure 1: Left: Photo of mineralization from NFGC-22-491 at approximately 93m down hole depth. Right: Photo of mineralization from NFGC-21-421 at approximately 21m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-22-491 and NFGC-21-421 (Photo: Business Wire)
Figure 1: Left: Photo of mineralization from NFGC-22-491 at approximately 93m down hole depth. Right: Photo of mineralization from NFGC-21-421 at approximately 21m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-22-491 and NFGC-21-421 (Photo: Business Wire)
Keats Highlights
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
KEATS HW
NFGC-21-254
136.85
139.55
2.70
9.35
Including
138.60
139.55
0.95
22.70
NFGC-21-392
47.15
52.90
5.75
7.21
Including
47.15
48.70
1.55
20.59
KEATS MAIN
NFGC-21-318
141.00
143.00
2.00
16.03
Including
141.00
142.00
1.00
31.60
NFGC-21-464
138.00
145.20
7.20
21.12
Including
139.55
141.80
2.25
61.36
NFGC-22-491
92.00
95.00
3.00
79.81
Including
92.45
94.35
1.90
124.56
KEATS FW
NFGC-21-342
138.65
144.55
5.90
6.66
Including
142.00
143.00
1.00
30.60
NFGC-21-375
181.60
184.00
2.40
119.45
Including
182.20
182.70
0.50
570.71
421
NFGC-21-421
19.00
22.55
3.55
4.49
And
26.30
31.15
4.85
7.85
Including
28.60
29.50
0.90
35.51
NFGC-21-467
66.15
68.40
2.25
4.31
Including
67.00
67.60
0.60
13.85
And
70.00
80.40
10.40
2.58
Table 1: Keats Drilling Highlights
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% 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. All composited intervals are provided in Table 2.
Reconnaissance drilling designed to test a possible southern extension of the Keats Main Zone intersected gold mineralization near surface including 4.49 g/t Au over 3.55m and 7.85 g/t Au over 4.85m in NFGC-21-421. This new discovery has been named the “421 Zone”. Step-out drilling from these initial holes returned intervals of 4.31 g/t Au over 2.25mand 2.58 g/t Au over 10.40m in NFGC-21-467 confirming that this fault zone dips southwest at approximately 50° and is host to high-grade gold. Drilling will continue to step-out on this structure and importantly, will also target its intersection along strike with the Keats Main Zone and the AFZ (Figures 1, 2, and 3).
Drilling into the footwall area located between the AFZ and the Keats-Baseline Fault continues to identify new veins and associated structures that contain high-grade gold, and this is well demonstrated by intercepts 119.45 g/t Au over 2.40m in NFGC-21-375 and 6.66 g/t Au over 5.90m in NFGC-21-342. The gold mineralization is hosted within a vein breccia and stockwork domain that trends approximately parallel to and is within the immediate footwall of the AFZ and appears to be spatially associated with the contact of a greywacke unit (Figures 3 and 7).
Significant high-grade gold mineralization identified in a region previously interpreted to form the hanging wall to the Keats-Baseline Fault Zone produces an important exploration target and also further advances the structural understanding of the Keats Zone. Highlight intercepts of 9.35 g/t Au over 2.70m in NFGC-21-254 and 7.21 g/t Au over 5.75m in NFGC-21-392 occur within two distinct structures that are adjacent to and crosscut the Keats Main Zone and are interpreted to be constituents of the broader damage zone associated with the Keats-Baseline Fault and appear to control domains of high-grade gold mineralization (Figures 3 and 7).
At the north end of Keats, recent drilling intersected a significant vein grading 79.81 g/t Au over 3.00m in NFGC-22-491 approximately 52m down-dip of NFGC-21-90 which previously reported 24.50 g/t Au over 3.85m (see March 16, 2021, news release). Follow-up drilling is underway to expand on this discovery (Figures 1, 2, 3 and 5).
A massive interval of brecciated, stylolitic and stockwork vein phases occurring within the dilational core of the Keats-Baseline Fault Zone was intersected by NFGC-21-464 and contained a grade of 21.12 g/t Au over 7.20m. The characteristics of this zone demonstrate that the south-west plunging, thickened and continuous domain of high-grade gold exists within a portion of the Keats Baseline Fault Zone that experienced significant volumes of gold mineralizing fluid flow. The intercept of 62.30 g/t Au over 2.00m in NFGC-21-387 (see February 24, 2022, news release) has traced this corridor over a length of 845m in a down-plunge direction. Exploration is currently working to expand this domain south (Figures 2, 3 and 6).
Melissa Render, P.Geo., VP Exploration for New Found, stated: “Significant model advancements have been made recently following the addition of a senior geologist to our New Found exploration team, with wizardry 3D-modelling skills that have greatly increased our understanding of the Keats Zone. This work has identified a multitude of high-priority target areas that will be the focus of upcoming drilling. The strength of the mineralizing system along the Keats-Baseline Fault Zone is exceptional based on the extensive amount of veining, alteration, brittle deformation and high-grade gold mineralization. Drills are working aggressively to continue to extend the Keats Main high-grade domain down plunge which now extends a length of approximately 845m. Drills are also turning to test for new structures and high-grade intersections like the 421 Zone in addition to the very underexplored west side of the AFZ that is also known to host high-grade gold mineralization. As noted previously, other orogenic deposit analogues with mineralizing systems adjacent to these deep crustal-scale structures such as the AFZ can extend to depths of +2km. Our drilling to date has focused above 300m vertical depth, with the deepest high-grade intercept to date at approximately 375m. Exploration along this 9.45 km segment of the +100km strike of the AFZ that New Found controls continues to build the evidence that a camp is emerging (Figure 4).”
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 Appleton 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. This structural relationship is well illustrated in Figure 4 and demonstrates the currently defined vein and associated fault orientations based on structural interpretation and drilling to date along the 2.6km corridor from Keats to Lotto. 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.
The Company’s current interpretation is that the high-grade gold mineralization being drilled at Queensway was deposited by gold mineralizing fluids penetrating this highly fractured and deformed meta-sedimentary sequence forming an extensive mineralized corridor surrounding the deep crustal-scale fault network that forms the Appleton Fault Zone. 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.
Keats
Mineralization at Keats is associated with a significant east-northeast striking and moderately southeast dipping brittle fault zone that developed adjacent to and trends at an oblique angle to the AFZ. Situated approximately 1.8km south of Lotto and 1.2km south of the Golden Joint discoveries, this fault forms an extensive damage zone that is discordant to the northeast striking and steeply dipping stratigraphy and controls the development of a complex network of high-grade gold vein arrays that are epizonal in character and exhibit breccia, stylolitic, and vuggy textures. The host rock units are comprised of an interbedded sequence of turbiditic shales and greywackes where lithological contrasts in part control domains of high-grade gold, however model advancements suggest the larger underlying control are dilational settings that experienced increased fluid flow that typically develop at structural intersections such as intersecting fault or vein segments. The Keats-Baseline Fault Zone expresses itself as a topographic low and interpretation of this low has traced it over approximately +2km strike length. At this stage, exploration has been largely focused within close proximity to the AFZ and has delineated a high-grade gold segment of the Keats-Baseline Fault over a strike length of approximately 660m, the high-grade southwest plunging dilational zone to approximately 845m while the deepest high-grade gold intercept to date is at a vertical depth of 375m.
Drillhole Details
Hole number
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-216
27.75
30.30
2.55
1.48
Keats Main
And
44.35
46.50
2.15
1.40
NFGC-21-254
136.85
139.55
2.70
9.35
Keats HW
Including
138.60
139.55
0.95
22.70
And
182.95
185.00
2.05
1.19
Keats Main
And
205.40
207.50
2.10
8.18
Including
206.25
207.10
0.85
19.45
And
238.70
242.00
3.30
1.47
Keats FW
NFGC-21-269
379.40
381.85
2.45
2.38
Keats FW
NFGC-21-275
211.00
216.00
5.00
1.36
Keats Main
And
325.30
328.50
3.20
1.83
Keats FW
NFGC-21-2832
235.40
237.55
2.15
1.05
Keats Main
And2
239.30
246.85
7.55
1.21
And
253.40
255.45
2.05
1.08
And2
268.55
270.95
2.40
1.10
And*
272.35
274.55
2.20
6.96
Including
272.35
273.10
0.75
17.34
And
358.00
360.00
2.00
1.37
Keats FW
NFGC-21-300
264.00
266.00
2.00
1.15
Keats Main
NFGC-21-312
113.60
115.65
2.05
2.28
Keats Main
And2
150.10
156.60
6.50
17.59
Including
155.60
156.60
1.00
105.38
And2
160.00
163.20
3.20
1.14
NFGC-21-314A
254.40
256.70
2.30
1.50
Keats Main
NFGC-21-317
324.70
328.50
3.80
1.30
Keats Main
NFGC-21-318
101.05
103.25
2.20
1.48
Keats Main
And
141.00
143.00
2.00
16.03
Including
141.00
142.00
1.00
31.60
NFGC-21-323
177.55
181.00
3.45
2.70
Keats Main
And
280.00
282.55
2.55
1.08
Keats FW
NFGC-21-327
No Significant Values
Keats Main
And
393.00
395.00
2.00
1.04
Keats FW
NFGC-21-328
32.00
35.70
3.70
2.44
Keats Main
Including
35.20
35.70
0.50
13.30
And
65.35
67.65
2.30
1.04
And
141.05
143.40
2.35
2.36
Keats FW
And
149.00
151.25
2.25
1.19
NFGC-21-329
309.10
312.00
2.90
1.18
Keats Main
And
391.00
393.50
2.50
1.90
Keats FW
And
484.00
486.30
2.30
1.19
NFGC-21-342
53.95
56.00
2.05
2.63
Keats Main
And
138.65
144.55
5.90
6.66
Keats FW
Including
142.00
143.00
1.00
30.60
NFGC-21-346
133.40
135.40
2.00
1.11
Keats HW
NFGC-21-350
106.70
109.45
2.75
1.15
Keats HW
And
276.60
278.85
2.25
1.52
Keats Main
And
280.35
282.75
2.40
1.97
And
285.00
287.00
2.00
3.10
NFGC-21-354
119.85
122.45
2.60
1.13
Keats Main
And
141.75
143.85
2.10
3.86
And
159.60
161.60
2.00
6.18
Including
161.15
161.60
0.45
26.90
And
166.65
168.75
2.10
1.59
NFGC-21-356
No Significant Values
Keats Main
NFGC-21-363
227.00
229.25
2.25
1.12
Keats Main
NFGC-21-368
227.55
235.05
7.50
2.00
Keats Main
And
256.00
258.75
2.75
1.71
And
306.00
308.20
2.20
1.49
Keats FW
NFGC-21-369
220.70
223.35
2.65
1.24
Keats Main
NFGC-21-375
181.60
184.00
2.40
119.45
Keats FW
Including
182.20
182.70
0.50
570.71
NFGC-21-3782
84.80
87.00
2.20
1.68
Keats Main
And2
143.00
145.60
2.60
1.46
And
211.50
214.05
2.55
1.21
Keats FW
NFGC-21-383
41.00
44.00
3.00
2.03
Keats Main
And
67.15
70.00
2.85
1.10
And
104.45
115.15
10.70
1.25
And
204.25
206.45
2.20
3.83
Keats FW
Including
204.60
205.05
0.45
16.30
NFGC-21-392
43.20
45.50
2.30
1.10
Keats HW
And
47.15
52.90
5.75
7.21
Including
47.15
48.70
1.55
20.59
NFGC-21-393
193.80
196.05
2.25
1.28
Keats Main
And
241.60
244.55
2.95
1.19
NFGC-21-395
19.60
27.00
7.40
1.44
Keats Main
And
65.00
67.40
2.40
1.24
And
71.30
77.20
5.90
1.44
And
186.00
188.00
2.00
4.01
Keats FW
Including
186.00
186.70
0.70
10.60
NFGC-21-396
No Significant Values
Keats Main
NFGC-21-397
341.85
347.00
5.15
1.23
Keats Main
And
389.00
392.00
3.00
1.02
NFGC-21-412
41.65
44.90
3.25
1.58
Keats HW
NFGC-21-418
65.95
68.00
2.05
1.10
Keats HW
And
153.80
156.00
2.20
2.32
Keats Main
NFGC-21-419
259.60
262.00
2.40
2.65
Keats Main
NFGC-21-421
19.00
22.55
3.55
4.49
Keats HW
And
26.30
31.15
4.85
7.85
Including
28.60
29.50
0.90
35.51
And
32.95
37.00
4.05
1.21
And
39.30
41.65
2.35
3.85
And
51.00
53.65
2.65
1.36
And
116.60
120.00
3.40
1.13
NFGC-21-423
384.60
387.10
2.50
1.21
Keats FW
And
402.00
404.80
2.80
5.82
Including
403.00
404.00
1.00
12.85
NFGC-21-432
308.65
311.00
2.35
1.68
Keats Main
NFGC-21-439
No Significant Values
Keats Main
NFGC-21-444A
199.55
201.70
2.15
1.80
Keats HW
And
295.00
297.00
2.00
1.86
Keats Main
NFGC-21-457
No Significant Values
Keats Main
NFGC-21-464
138.00
145.20
7.20
21.12
Keats Main
Including
139.55
141.80
2.25
61.36
NFGC-21-465
No Significant Values
Keats Main
NFGC-21-467
66.15
68.40
2.25
4.31
Keats HW
Including
67.00
67.60
0.60
13.85
And
70.00
80.40
10.40
2.58
And
306.00
308.00
2.00
1.70
Keats FW
NFGC-21-469
No Significant Values
Keats Main
NFGC-22-477
No Significant Values
Keats Main
NFGC-22-491
92.00
95.00
3.00
79.81
Keats Main
Including
92.45
94.35
1.90
124.56
And
168.80
171.85
3.05
2.82
Keats FW
Table 2: Summary of composite results reported in this release for Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% 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.2Composite intervals previously reported.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-216
299
-46
251
658051
5427416
NFGC-21-254
299
-46
293
658119
5427290
NFGC-21-269
297
-56
425
658109
5427141
NFGC-21-275
299
-46
380
658159
5427260
NFGC-21-283
300
-45
392
658148
5427216
NFGC-21-300
299
-46
386
658091
5427191
NFGC-21-312
299
-47
209
658110
5427324
NFGC-21-314A
300
-45
332
658068
5427204
NFGC-21-317
300
-45
377
658132
5427138
NFGC-21-318
300
-45
200
658089
5427335
NFGC-21-323
300
-45
308
658156
5427305
NFGC-21-327
299
-46
425
658109
5427123
NFGC-21-328
298
-46
267
658045
5427361
NFGC-21-329
298.5
-46
505
658066
5427148
NFGC-21-342
300
-45
260
658018
5427377
NFGC-21-346
300
-45
401
658054
5427126
NFGC-21-350
300
-45
467
658032
5427167
NFGC-21-354
299
-46
215
658077
5427314
NFGC-21-356
299
-46
410
658096
5427102
NFGC-21-363
300
-45
284
658026
5427229
NFGC-21-368
299
-46
335
658209
5427273
NFGC-21-369
300
-45
320
657993
5427190
NFGC-21-375
300
-45
278
658011
5427352
NFGC-21-378
300
-45
330
657982
5427254
NFGC-21-383
120
-80
284
657987
5427371
NFGC-21-392
300
-42
281
657939
5427279
NFGC-21-393
299
-46
300
658119
5427261
NFGC-21-395
300
-42
248
657988
5427368
NFGC-21-396
300
-45
347
658078
5427169
NFGC-21-397
296
-57
488
658136
5427126
NFGC-21-412
325
-56
486
657887
5427017
NFGC-21-418
299
-46
287
658053
5427299
NFGC-21-419
300
-45
530
658035
5427195
NFGC-21-421
325
-56
452
657830
5427099
NFGC-21-423
298
-57
527
658107
5427094
NFGC-21-432
63
-85
380
657901
5427212
NFGC-21-439
298
-57
380
658349
5427388
NFGC-21-444A
325
-56
446
657799
5427004
NFGC-21-457
299
-47
379
658368
5427320
NFGC-21-464
299
-46
320
658193
5427391
NFGC-21-465
298
-57
371
658299
5427302
NFGC-21-467
325
-56
494
657825
5427070
NFGC-21-469
298
-57
428
658318
5427234
NFGC-22-477
299
-46
555
658138
5427048
NFGC-22-491
299
-46
206
658300
5427503
Table 3: Details of drill holes reported in this release
Queensway 400,000m Drill Program Update
Approximately 40% of the planned 400,000m program at Queensway has been drilled to date with approximately 19,120m of the core with pending assay results. Eleven core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs.
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 60% to 95% of reported core lengths. 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 HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland, except for drill hole NFGC-21-421 where whole core samples were submitted to Intertek Australia Perth for Chrysos PhotonAssayTM method as part of a test program; all three laboratories operate under a commercial contract with New Found. A selection of Chrysos PhotoAssayTM method samples are currently being assayed to extinction using traditional fire assay method for QC purposes, the results of this work will be reported once available. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 3% of sample pulps are sent to secondary laboratories 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 has 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 technical content 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 news release dated April 11, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, 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 40% complete. The Company is well funded for this program with a current working capital balance of approximately $106 million.
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.
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 assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling 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," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” 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/20220411005332/en/
BARU.v $BARUF Baru Gold Positive Metallurgical Study at Sangihe Gold Project Indicates Gold Recoveries of 85% and Silver Recoveries of 96%
by @thenewswire on 11 Apr 2022, 08:01
(TheNewswire)
Baru Gold Corp.
April 11, 2022 – TheNewswire - Vancouver, BC – BARU Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to report on our commitment and the viability of the Sanighe Gold project based on the metallurgical studies and the milestones on permitting and advancing the Sangihe Gold project. With land clearing and construction ongoing, the BARU Gold team has reviewed metallurgy of the project in detail.
A metallurgical review and study are a crucial part of transitioning an exploration project to a producing mine site. It is during these tests, that the engineering team and contractors can assess the condition, composition, and best recovery methods for the materials to be mined. A higher recovery rate (defined as percentage of metal extracted from ore during processing), will mean the Company can recover more gold and silver per tonne of ore mined. Further, a positive metallurgical study can de-risk the project further and assist mining engineers in refining the flow sheet design. This in turn increases efficiency and lowers the environmental footprint of the operation.
In September 2018, Baru’s subsidiary, PT. Tambang Mas Sangihe or “TMS” (the holder of the Sangihe CoW licence) received approval of the Indonesian Feasibility Study (IFS) by Ministry of Energy and Mineral Resources at an open meeting attended by TMS and representatives of both Provincial and Central mines departments. The IFS, was conducted by Resindo Resources and Energy, an Indonesian consulting firm and was comprised of several elements:
a)Metallurgical drilling to identify the most suitable heap-leaching locations.
b)Geotechnical drilling to provide the most up-to-date and accurate core samples for pit wall design, fragmentation of ore and ore excavation rates.
c)Hydro-geological surveying to help locate and identify the water table level in the pit design and best water sources needed for upcoming drilling, heap-leaching and ultimately gold production.
All drilling required for the IFS was completed and the metallurgical test results were as follows:
a)Bottle Roll Test of the Cyanide Soluble assay results showed gold recoveries of 85% and silver recoveries of 96%.
b)Agglomeration test results have been completed with the majority of the samples tested agglomerating very well
c)Carbon Column Test work reached 83.80% recovery of gold.
d)Acid Forming test work of overburden rock samples taken from the geotechnical drilling core indicated that only rock samples with more than 5% sulphides were Potential Acid Forming and these rock samples constitute less than 9% of the overall Binebase Resource.
The Indonesian Feasibility Study is not a Feasibility Study as defined by CIM as required by NI 43-101 but it is required under Indonesian law in order to obtain a licence to construct a production facility.
In February 2021, the Ministry of Energy and Mineral Resources (MoEMR) upgraded its Sangihe Gold Project Contract of Work (“CoW”) to Operation Production status. This licence provides Baru Gold with the rights to operate precious metal mines on 42,000 hectares on Sangihe Island. To date only 10% of the area has been geologically explored. Exploration will be upgraded through a resource development drilling program and will be expanded to other areas of the CoW once production cashflow has been initiated.
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 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.
The existing CoW licence for the Sangihe gold project is a 30-year licence and under the recently issued 2020 mining regulations can be extended for 20 years. This CoW production status upgrade also gives the Company rights for refinery and export licences.
The Board of Directors have approved a 35,000-metre Resource Development drilling program. The initial area targeted for this drilling is covered in the Sangihe 2010 NI 43-101 which identified 835,000 ounces gold inferred resource between Binebase and Bawone villages, approximately 1.2 kilometres. An infill drilling program will be conducted in this area to upgrade some of the inferred resources into indicated and measured resource status. Exploration drilling will continue over an additional 1.45 kilometres from Bawone to South of Salurang villages, an area over which this anomaly continues. After the initial exploration drilling in this area has been completed, the identified resources will then be infill drilled to bring some of these resources into indicated and measured status as well.
Terry Filbert, Chairman and CEO, commented, “I have been in Indonesia since mid-February overseeing all aspects of the Indonesian operations and don’t plan to leave until we are in production. Given the current price of gold, low production costs and continuing field analysis of the 23 new exploration targets identified in the structural study that provided promising results, the Company remains steadfast towards the goal of production. Baru has constituently and diligently worked towards that goal and plans to provide regular updates on activities to the shareholders as milestones are achieved.”
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, 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.
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.
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. 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 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) 2022 TheNewswire - All rights reserved.
WHN.v $WTHVF Westhaven Drills A Truly World Class Gold Intercept At Shovelnose http://energyandgold.com/2022/04/07/westhaven-drills-a-truly-world-class-gold-intercept-at-shovelnose/
WHN.v Westhaven Drills 23.03 Metres of 37.24 G/T Gold and 209.52 G/T Silver, Including 1.12 Metres of 294 G/T Gold and 2,110 G/T Silver at the FMN Zone, Shovelnose Gold Property
by @nasdaq on 6 Apr 2022, 07:40
VANCOUVER, British Columbia, April 06, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing 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.
Gareth Thomas, President & CEO, comments: “We are pleased to report the highest gold-silver intercept (857.64 gram-metres) ever drilled on the Shovelnose gold property, at the FMN Zone. Hole SN22-212 (23.03m of 37.24 g/t gold and 214.70 g/t silver) is over 2 kilometres from the heart of the South Zone resource. We now have multiple gold mineralized drill intercepts at the FMN zone over 500 metres of strike length that begin at bedrock surface in areas with minimal overburden. We believe the FMN zone has the potential to contribute significantly to the property wide precious metals inventory. It is not uncommon in enriched epithermal systems to discover multiple high-grade gold chutes and, given the strong nature of this system and low drill density in this area, we believe there is going to be more high-grade chutes discovered along this ~4-kilometre trend.” Thomas goes on to add, “In addition to the drill currently located at the FMN Zone, a second drill has been added at the Alpine Zone focused on following-up on Hole SNR21-55, which intersected 3.13 metres of 45.23 g/t gold and 195.64 g/t silver. Recent drilling at the Alpine Zone has encountered similar geology to what was encountered in SNR21-55, including intervals containing marcasite, adularia and ginguro."
Westhaven is reporting assays for 22 holes from its ongoing drill campaign at Shovelnose.
Recent Drilling Highlights:
SN22-212 (FMN: 93.94-116.97m)
23.03 metres (m) of 37.24 g/t gold (Au) and 209.52 g/t silver (Ag),
including 1.12m of 294.00 g/t Au and 2,110 g/t Ag.
(79.66-93.94)
14.28m of 2.07 g/t Au and 7.38 g/t Ag,
including 1.34m of 12.95 g/t Au and 34.40 g/t Ag.
(140.00-163.76)
23.76m of 1.45 g/t Au and 9.23 g/t Ag.
SN22-211 (FMN: 86.00-122.00m)
36.00 metres (m) of 3.74 g/t gold (Au) and 20.49 g/t silver (Ag),
including 11.26m of 9.52 g/t Au and 50.03 g/t Ag,
including 2.12m of 30.25 g/t Au and 115.99 g/t Ag.
(22.44-64.61m)
42.17m of 1.16 g/t Au and 4.92 g/t Ag
including 17.94m of 2.07 g/t Au and 8.32 g/t Ag,
including 0.97m of 14.20 g/t Au and 18.65 g/t Ag.
SN21-194 (FMN: 317.99-320.23m)
2.24m of 12.45 g/t Au and 270.00 g/t Ag.
SN21-197 (FMN: 25.80-81.15m)
55.35m of 0.96 g/t Au and 2.98 g/t Ag,
including 11.93m of 3.18 g/t Au and 10.28 g/t Ag,
also including 1.08m of 24.30 g/t Au and 79.30 g/t Ag.
SN22-204 (FMN: 24.98-64.00m)
39.02m of 0.89 g/t Au and 2.60 g/t Ag,
including 13.79m of 1.80 g/t Au and 4.40 g/t Ag.
SN22-205 (FMN: 45.00-79.00m)
34.00m of 1.10 g/t Au and 3.93 g/t Ag,
including 21.00m of 1.66 g/t Au and 5.65 g/t Ag,
and 2.00m of 5.01 g/t Au and 9.76 g/t Ag.
Please click the following link to the 2021 & 2022 drill database tables of assay results:
2021 & 2022 drill database: https://www.westhavengold.com/projects/shovelnose-gold/maps/
Peter Fischl, Exploration Manager, comments: “Drilling on the Shovelnose Gold Project started this year at FMN in order to follow-up on higher grade intersections from last year’s drilling (e.g. hole SN21-161: 9.15 g/t Au over 15.97m) and broader intervals of near-surface mineralization (e.g. hole SN21-188: 0.76 g/t Au over 57.8m). This year’s drilling at FMN continues to intersect these two styles of mineralization. Gold-bearing intervals are hosted in quartz-adularia veins comprising Vein Zone 1 and heterolithic breccias containing mineralized quartz fragments derived from Zone 1 veins. The breccias can form broad intervals of near surface gold mineralization such as in hole SN22-205 (1.1 g/t Au over 34.0m) and SN22-211 (1.16 g/t over 42.17m). Drilling continues to intersect higher grade intervals hosted in Vein Zone 1 as well, as seen deeper down in hole SN22-211 (9.52 g/t Au over 11.26m, including 30.25 g/t Au over 2.12m) and in SN22-212 (37.24 g/t Au over 23.03m). Drilling at FMN will continue on 50m spaced sections along strike towards the southeast to follow-up additional mineralization uncovered during 2020 drilling. A geophysical program is planned for FMN later this Spring to assist in targeting Vein Zone 1 between FMN and Franz to the northwest.”
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.
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.
PLAN MAP
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CROSS-SECTIONS
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WHN.v $WTHVF Westhaven Drills A Truly World Class Gold Intercept At Shovelnose http://energyandgold.com/2022/04/07/westhaven-drills-a-truly-world-class-gold-intercept-at-shovelnose/
WHN.v Westhaven Drills 23.03 Metres of 37.24 G/T Gold and 209.52 G/T Silver, Including 1.12 Metres of 294 G/T Gold and 2,110 G/T Silver at the FMN Zone, Shovelnose Gold Property
by @nasdaq on 6 Apr 2022, 07:40
VANCOUVER, British Columbia, April 06, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing 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.
Gareth Thomas, President & CEO, comments: “We are pleased to report the highest gold-silver intercept (857.64 gram-metres) ever drilled on the Shovelnose gold property, at the FMN Zone. Hole SN22-212 (23.03m of 37.24 g/t gold and 214.70 g/t silver) is over 2 kilometres from the heart of the South Zone resource. We now have multiple gold mineralized drill intercepts at the FMN zone over 500 metres of strike length that begin at bedrock surface in areas with minimal overburden. We believe the FMN zone has the potential to contribute significantly to the property wide precious metals inventory. It is not uncommon in enriched epithermal systems to discover multiple high-grade gold chutes and, given the strong nature of this system and low drill density in this area, we believe there is going to be more high-grade chutes discovered along this ~4-kilometre trend.” Thomas goes on to add, “In addition to the drill currently located at the FMN Zone, a second drill has been added at the Alpine Zone focused on following-up on Hole SNR21-55, which intersected 3.13 metres of 45.23 g/t gold and 195.64 g/t silver. Recent drilling at the Alpine Zone has encountered similar geology to what was encountered in SNR21-55, including intervals containing marcasite, adularia and ginguro."
Westhaven is reporting assays for 22 holes from its ongoing drill campaign at Shovelnose.
Recent Drilling Highlights:
SN22-212 (FMN: 93.94-116.97m)
23.03 metres (m) of 37.24 g/t gold (Au) and 209.52 g/t silver (Ag),
including 1.12m of 294.00 g/t Au and 2,110 g/t Ag.
(79.66-93.94)
14.28m of 2.07 g/t Au and 7.38 g/t Ag,
including 1.34m of 12.95 g/t Au and 34.40 g/t Ag.
(140.00-163.76)
23.76m of 1.45 g/t Au and 9.23 g/t Ag.
SN22-211 (FMN: 86.00-122.00m)
36.00 metres (m) of 3.74 g/t gold (Au) and 20.49 g/t silver (Ag),
including 11.26m of 9.52 g/t Au and 50.03 g/t Ag,
including 2.12m of 30.25 g/t Au and 115.99 g/t Ag.
(22.44-64.61m)
42.17m of 1.16 g/t Au and 4.92 g/t Ag
including 17.94m of 2.07 g/t Au and 8.32 g/t Ag,
including 0.97m of 14.20 g/t Au and 18.65 g/t Ag.
SN21-194 (FMN: 317.99-320.23m)
2.24m of 12.45 g/t Au and 270.00 g/t Ag.
SN21-197 (FMN: 25.80-81.15m)
55.35m of 0.96 g/t Au and 2.98 g/t Ag,
including 11.93m of 3.18 g/t Au and 10.28 g/t Ag,
also including 1.08m of 24.30 g/t Au and 79.30 g/t Ag.
SN22-204 (FMN: 24.98-64.00m)
39.02m of 0.89 g/t Au and 2.60 g/t Ag,
including 13.79m of 1.80 g/t Au and 4.40 g/t Ag.
SN22-205 (FMN: 45.00-79.00m)
34.00m of 1.10 g/t Au and 3.93 g/t Ag,
including 21.00m of 1.66 g/t Au and 5.65 g/t Ag,
and 2.00m of 5.01 g/t Au and 9.76 g/t Ag.
Please click the following link to the 2021 & 2022 drill database tables of assay results:
2021 & 2022 drill database: https://www.westhavengold.com/projects/shovelnose-gold/maps/
Peter Fischl, Exploration Manager, comments: “Drilling on the Shovelnose Gold Project started this year at FMN in order to follow-up on higher grade intersections from last year’s drilling (e.g. hole SN21-161: 9.15 g/t Au over 15.97m) and broader intervals of near-surface mineralization (e.g. hole SN21-188: 0.76 g/t Au over 57.8m). This year’s drilling at FMN continues to intersect these two styles of mineralization. Gold-bearing intervals are hosted in quartz-adularia veins comprising Vein Zone 1 and heterolithic breccias containing mineralized quartz fragments derived from Zone 1 veins. The breccias can form broad intervals of near surface gold mineralization such as in hole SN22-205 (1.1 g/t Au over 34.0m) and SN22-211 (1.16 g/t over 42.17m). Drilling continues to intersect higher grade intervals hosted in Vein Zone 1 as well, as seen deeper down in hole SN22-211 (9.52 g/t Au over 11.26m, including 30.25 g/t Au over 2.12m) and in SN22-212 (37.24 g/t Au over 23.03m). Drilling at FMN will continue on 50m spaced sections along strike towards the southeast to follow-up additional mineralization uncovered during 2020 drilling. A geophysical program is planned for FMN later this Spring to assist in targeting Vein Zone 1 between FMN and Franz to the northwest.”
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.
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.
PLAN MAP
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8019cb7c-c32e-4a59-8b09-0639087cfcd7
CROSS-SECTIONS
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1478dd37-7907-4a90-a978-f32594924ab8
https://www.globenewswire.com/NewsRoom/AttachmentNg/a4a7155f-ff65-482a-b4c3-882571d5305b
https://www.globenewswire.com/NewsRoom/AttachmentNg/8edd2199-eeb6-4f67-b56e-38afd8ac605b
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GLM.ca $GOLXF Golden Lake Reports "18.71 metres Averaging 2.85 g/t Gold and 20.5 g/t Ag" From Hamburg Mine Zone, Jewel Ridge Project, Nevada
by @accesswire on 5 Apr 2022, 05:01
VANCOUVER, BC / ACCESSWIRE / April 5, 2022 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") (OTCQB:GOLXF) is pleased to report on its 2nd diamond drill hole of the 2022 field season, also located at the Hamburg Mine Target, on the Company's keystone Jewel Ridge project, located in the prolific Eureka gold district, Nevada.
Hole JR-22-37DD returned an 18.71 metre interval from a depth of 24.57 metres averaging 2.85 grams gold per tonne (g/t Au), 20.5 g/t silver (Ag), 0.76 percentage lead (% Pb) and 1.13 percentage zinc (% Zn). This interval comprised a combination of "Carlin-style" and Carbonate Replacement Deposit ("CRD") mineralization. This interval was over 24.57 metres to a depth of 50.90 metres, omitting 4.57 meters of void (Underground workings on CRD mineralization and 3.02 meters of waste (less than 0.20 g/t Au).
Hole JR-22-37DD is collared approximately 225 metres south-southeast of hole JR-22-36DD (see Press Release March 23rd, 2022, 26.37 METERS AVERAGING 5.38 G/T GOLD") with an azimuth of 165°, dip -80°, directed at a different target than holes JR-22-36DD.
Hole JR-22-37DD intersected two intervals interpreted as CRD mineralization.
The first CRD interval, from 24.57 to 31.09 metres returned 6.52 metres averaging 6.88 g/t Au, 38.7 g/t Ag, 1.59% Pb and 1.84% Zn. The best individual intercept was from 24.99 to 26.12 metres, over 1.13 metres, returned 9.86 g/t Au, 61.0 g/t Ag, 1.87 % Pb, and 2.06 % Zn (see core photo below).
The second CRD interval, from 46.33 to 50.90 metres, returned 4.57 metres averaging 1.13 g/t Au, 19.4 g/t Ag, 0.41% Pb and 0.99% Zn.
If the void is included at zero grade and the waste interval is included, the interval from 24.57 to 50.90 metres returned 26.34 metres averaging 2.03 g/t Au, 14.7 g/t Ag, 0.54 % Pb, and 0.82 % Zn.
Two additional zones of lower grade were also intersected in hole JR-22-37DD. From 173.04 metres, an intercept over 7.01 metres averaged 0.37 g/t Au, 3.6 g/t Ag, 0.13 % pb and 0.32 % Zn. From 187.45 metres, an intersection of 9.54 meters averaged 0.28 g/t Au and 2.6 g/t Ag, with no significant lead or zinc.
Hole JR-22-37DD was located approximately 35 Southeast of the Main Hamburg Mine open pit.
Drill Plan - Hamburg Mine Area
Gossanous CRD 24.57 m to 26.12 m, over 1.55 m, 9.42 g/t Au, 73.6 g/t Ag, 2.27% Pb & 2.27% Zn
The Hamburg Mine target is approximately 1.8 kilometers South-Southeast of the Eureka Tunnel target, where the Company was actively exploring throughout most of 2021.
Mineralization in hole JR-22-37DD is hosted within the Hamburg Dolomite unit, where most historic gold and silver production from the underground and open pit workings occurred. The Company does not have detailed mining plans of the historic production from the Hamburg Mine area.
The high-grade mineralization intersected in hole JR-22-36DD, hosted within the Dunderberg Shale horizons, was not tested in hole JR-22-37DD.
Final silver and base metals assays were also returned for hole JR-22-36DD (gold values previously reported), including from 42.64 metres, over 26.27 metres, averaged 5.39 g/t Au and 4.3 g/t Ag. Lead and zine values were insignificant.
Mike England, CEO, said, "Hole JR-22-37DD returned excellent gold and silver values, and represents a significant step-out from the high-grade intersected in hole JR-22-36DD. Multiple new targets have been indicated at the Hamburg Mine area, with drilling to continue throughout the spring and summer."
Drilling Quality assurance and quality control statement
Procedures have been implemented to assure QA/QC of drill hole assaying being done at an ISO accredited assay laboratory. All intervals of drill holes are being assayed and samples have been securely shipped and received by ALS Labs in Reno, Nevada, with chain-of-custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence. All results will be analyzed for consistency.
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 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.
Qualified person
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, 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/696062/Golden-Lake-Reports-1871-metres-Averaging-285-gt-Gold-and-205-gt-Ag-From-Hamburg-Mine-Zone-Jewel-Ridge-Project-Nevada
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