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picking up some shares this morning.
Grid Metals Discovers Nickel Mineralization and Intersects Additional Pd-Rich Mineralization at East Bull Lake 1/28/2021
TORONTO, ON / ACCESSWIRE / January 28, 2021 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to announce the further drilling results from its fall 2020 program at its 100% owned East Bull Lake ("EBL") palladium property (the "Property") in Ontario. The first step out hole (EBL20-14) from discovery hole EBL20-13 (119m @ 1.19 g/t palladium equivalent grade = "Pd Eq") is located 85 metres away. It intercepted both significant widths of palladium-dominant disseminated sulfide mineralization and a four metre section of nickel-rich semi-massive sulfide and magnetite including two metres averaging 1.51% nickel, 1.14% copper, 1.55 g/t Pd, 0.38 g/t platinum and 0.22 g/t gold.
Highlights from EBL20-14
Drill hole EBL20-14 was a follow-up to previously reported results for hole EBL20-13 (e.g., 119 metres averaging 1.1 g/t Pd Eq - see Company news release dated December 3, 2020) and intersected several intervals of Pd-dominant mineralization followed by a four metre interval of nickel- rich disseminated to semi-massive sulfide + magnetite mineralization. The nickel-rich mineralization occurs within a footwall breccia unit directly underlying the palladium-rich mineralization.
Analytical results for EBL20-14 (see Table 1 for details) include:
From 84.0m - 15.7m @ 0.83 g/t Pd Eq (disseminated sulfide);
From 113.0m - 6.0m @ 2.42 Pd Eq (disseminated sulfide);
From 129.0m - 14.1m @ 1.14 Pd Eq (disseminated sulfide); and,
From 165.6m - 2.07m @ 1.51% nickel, 1.14% Cu and 1.55 g/t Pd (semi-massive sulfide + magnetite) including a 1.0 metre sample with 1.93% Ni, 1.61% Cu, 2.03 g/t Pd and 0.14% Co.
Program Plans
The Company resumed drilling on the Property on January 21st and is expected to initially complete up to 4,000 metres of drilling over the next 2-3 months, including several new holes at both the Central Parisien Lake target area (Figure 1) and the southwestern part of the East Lobe target area (an area located approximately 6 kilometres to the east). In both areas, drilling will be designed to delineate laterally extensive and thick (i.e., tens of metres) zones of near surface, high tenor, Pd- and Cu-rich disseminated sulfide mineralization, especially within modeled structural depressions along the base of the intrusion. Drilling will also test for additional Ni-rich mineralization, similar to that observed in the Parisien Lake area, by targeting selected conductivity and resistivity anomalies within the lower parts of these structural depressions or along the margins of potential feeder structures.
Dr. Dave Peck, the Company's Vice-President of Exploration and Business Development stated "The intersection of nickel-rich sulfide mineralization is a significant new development for the project. The position of this mineralization at the base of the intrusion fits the pattern observed for sulfide deposition in many layered intrusions globally, with Pd- and Cu-rich disseminated sulfide mineralization developed above denser nickel- and iron-rich sulfides occupying structural depressions along the basal contact and commonly extending into the immediate footwall. The 2020 exploration results support the Company's belief that major deposits of Pd- and Cu-rich disseminated sulfide mineralization - locally underlain by high-value, base metal-rich semi-massive to massive sulfide-oxide mineralization, can be discovered in the Central Parisien Lake area and elsewhere within the prospective lower stratigraphy of the East Bull Lake Intrusion."
Additional Results
Analytical results for EBL20-12 and EBL20-15 were also received (Table 1). These two holes were drilled to the south to intersect the contact area between the Parisien Lake Deformation Zone (PLDZ) in the south - a potential feeder structure to the EBL Intrusion, and the upper part of the prospective Lower Series stratigraphy in the north (Figures 1 to 3). In contrast, EBL20-13 and 14, both of which returned better grade-thickness palladium mineralization, were drilled to the north toward the central axis of a modeled basin structure along the base of the intrusion.
Anomalous Pd mineralization was encountered in both EBL20-12 and EBL20-15 within the prospective Lower Series units with maximum grade-thickness intervals as follows:
EBL20-12
12.0 metres averaging 0.65 g/t Pd, 0.24 g/t Pt, 0.05 g/t Au, 0.07% Cu and 0.05% Ni (1.03 g/t Pd Eq) from 3.0 metres
4.8 metres with 0.67 g/t Pd, 0.24 g/t Pt, 0.05 g/t Au, 0.06% Cu and 0.04% Ni (1.00 g/t Pd Eq) from 22.0 metres
6.4 metres averaging 0.38 g/t Pd, 0.18 g/t Pt, 0.06 g/t Au, 0.20% Cu and 0.08% Ni (0.98 g/t Pd Eq) from 30.6 metres
EBL20-15
10.0 metres averaging 0.86 g/t Pd, 0.23 g/t Pt, 0.05 g/t Au, 0.06% Cu and 0.04% Ni (1.19 g/t Pd Eq) from 50.0 metres including a 3.0 metre section averaging 1.46 g/t Pd, 0.40 g/t Pt, 0.11 g/t Au, 0.13% Cu and 0.07% Ni (2.11 g/t Pd Eq) from 55.0 metres
Downhole Geophysics Completed on Visually High-Grade Silver Vein Intersected at Robinson Zone
BY Canada NewsWire
— 11:23 AM ET 01/26/2021
COQUITLAM, BC, Jan. 26, 2021 /CNW/ - Canada Silver Cobalt Works Inc. (TSXV: CCW) (the "Company" or "Canada Silver Cobalt") is pleased to announce the completion of a hole-to-hole IP study earlier this month. The study was conducted on the newly discovered, visually high-grade silver vein intersected in hole CS-20-39.
Highlights
Down hole Geophysics was conducted from January 4th -12th 2021.
The holes used for the hole-to-hole pairing contained zones of cobalt and silver veining.
Encouraging results delineated a good response over the 17m mineralized zone.
This study produced testable results that are being investigated by wedge drilling that is now underway. The team is working closely with the geophysicists to interpret results from the initial wedging while a more comprehensive action plan is being developed to delineate new targets in areas where we have already qualified the need for enhanced resolution of existing veins. This initiative will also open up new ground.
A larger geophysical project is also in development that will utilize the Distributed Array System, "DasVision" which will incorporate a bigger geographic area. It is anticipated the study will lead to injecting current in both boreholes and at surface in order to provide better resolution at depth.
Matt Halliday, President commented, "The Company is taking full advantage of new geophysical techniques while maximizing the utility of existing technologies. As the technical team continues to advance and better understand this deposit model, we will have a comprehensive toolbox to facilitate the generation of the best possible targets. New IP techniques will be part of this toolbox that will also include advanced cameras, structural technology including oriented core and directional drilling, and various geochemistry techniques."
Location
The Castle Property is 15 km east of Pan American Silver's Juby gold deposit, 30 km due south of Alamos Gold's Young-Davidson mine, 75 km southwest of Kirkland Lake Gold's Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
I have contacted Ian the CEO several times. I was complaining about how undervalued we are here and how market has not rewarded the news.
I am sure he plans to put all this in production starting with Bull River project.
He also said he received very positive feedback from several Large shareholders. They see its value just need the greater market to see it.
New Report
Braveheart Resources Inc. (TSXV: BHT / OTCQB: RIINF)- Acquires a Past-Producing Copper-Nickel Mine for 1% of its NPV
"BHT’s shares are up 47% since we initiated coverage in November 2020. In December 2020, the company completed a previously announced acquisition of the Thierry mine project from Cadillac Ventures (TSXV: CDC) for $2.2M in cash and shares. Thierry is a past-producing copper and nickel mine in Ontario. The company remains focused on bringing its 100% owned Bull River copper-gold-silver mine in B.C. back into production. Bull River can be advanced to production for just $6.5M in CAPEX. The company is evaluating financing options, and applying for permits to potentially commence production by October 2021..."
READ THE FULL REPORT
https://www.researchfrc.com/braveheart-resources-inc-tsxv-bht-otcqb-riinf-acquires-a-past-producing-copper-nickel-mine/?utm_source=FRC+Free+Subscription&utm_campaign=718b7618c2-EMAIL_CAMPAIGN_2020_09_21_11_11_COPY_01&utm_medium=email&utm_term=0_e14636a3f6-718b7618c2-75485849
And the 'looking good' continues with decent volume. NICE
Additional High-Grade Silver Intersected at Robinson Zone
BY Canada NewsWire
— 1:00 PM ET 01/22/2021
COQUITLAM, BC, Jan. 22, 2021 /CNW/ - Canada Silver Cobalt Works Inc. (TSXV: CCW) (the "Company" or "Canada Silver Cobalt") is pleased to announce visually high-grade silver has been intersected in a wedge hole. Samples have now been shipped to SGS Lakefield for rush analysis.
Highlights
High-grade silver mineralization intersected in wedge hole CS-20-39 W2
CS-20-39 W2 intersection is 5 meters above CS-20-39
Multiple silver-cobalt-mineralized veins intersected
A sample from original hole CS-20-39 is currently at SGS Lakefield laboratory pending assay.
High-grade silver mineralization over 5 - 6 cm true width in hole CS-20-39W2 (CNW Group/Canada Silver Cobalt Works Inc.)
High-grade silver mineralization over 5 – 7 cm true width in hole CS-20-39 – comparable to the average thickness of veins that produced over 70 million ounces from the 3 major past-producers within 2 km of the Robinson Zone. (CNW Group/Canada Silver Cobalt Works Inc.)
A new wedge hole off CS-20-39W2 has intersected visually significant native silver mineralization comparable to the vein observed in hole CS-20-39, confirming the extension of the high-grade silver mineralization in this vein. Vein is open in all directions. Also of note, the previously reported 17-metre vein zone (CCW press release December 29, 2020) has again been intersected with several of the variably mineralized veins widening up in the wedge interval.
Matt Halliday, President commented, "continued success of intersecting high-grade silver mineralization in the area gives us a better understanding of the developing geological model. Numerous other silver-cobalt mineralized veins were also intersected in this wedge hole. With two drills turning and wedging ongoing, the team on the ground continues to efficiently advance on schedule."
"With silver and cobalt mineralization in the same vein structures, Canada Silver Cobalt Works ( CCWOF) is uniquely positioned in the electric vehicle market place," said Frank J. Basa, B.Eng., P.Eng., CEO, "Silver is becoming the new energy metal. Samsung recently revealed in an article that they developed a solid-state electric vehicle battery with 500-mile range and a life cycle of 1000 recharges. That's a vehicle with a battery that lasts 500,000 miles. Better than any other Lithium-ion battery on the market today
What a stupid ass close. Kind of wish it was my buy though
LOL
Braveheart Enters into Agreement to Repurchase 2% Net Smelter Royalty at Thierry Mine Project
Calgary, Alberta--(Newsfile Corp. – January 21, 2021) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB:RIINF) ("Braveheart" or the "Company") is pleased to announce that based on the results of a positive Preliminary Economic Assessment (“PEA”) for its newly acquired Thierry Mine Project (“Thierry”) near Pickle Lake, Ontario (see press release dated January 14, 2021) the Company has negotiated the repurchase of a 2% Net Smelter Royalty (“NSR”) from Cadillac Ventures Inc. (“Cadillac”) for a consideration of 2,500,000 common shares of Braveheart. As per the Share Purchase Agreement dated October 21, 2020 and the Share Purchase Amending Agreement dated November 21, 2020, Braveheart was entitled to repurchase 1% of the 2% NSR for $1,000,000. The parties have replaced these terms so that Braveheart can repurchase the entire 2% NSR for 2,500,000 common shares of Braveheart.
Completion of the NSR repurchase is subject to the approval of the TSX Venture Exchange
Looks like Cadillac Ventures Inc. Likes future BHT price. See my next post.
Grid Metals Commencing Drill Program at East Bull Lake Palladium Property 1/21/2021
TORONTO, ON / ACCESSWIRE / January 21, 2021 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to confirm that drilling has now commenced at the East Bull Lake Palladium Property (the "Property") located 80 kilometres west of Sudbury, Ontario. The drilling will continue a program started last year that is focused on the discovery of significant near surface deposits of near palladium-rich magmatic sulfide mineralization. The new drilling will focus on two areas located approximately six kilometres apart along the prospective southern margin of the intrusion. Two drills will be deployed for the majority of the program.
The first seven holes are planned for the Parisien Lake area as a follow up to the best intersection ever obtained on the Property from drill hole EBL20-13, as reported in the Company's December 3, 2020 news release. This intersection included a 119 metre interval, starting at three metres below surface, that averages 0.75 g/t Pd, 0.21 g/t Pt, 0.04 g/t Au, 0.08% Cu and 0.05% Ni (1.13 g/t palladium equivalent grade = Pd Eq), within which occurs a higher grade 48 metre section averaging 1.85 g/t Pd Eq. The new drill holes will test a recently modeled basin structure developed in the lower stratigraphy of the intrusion. This basin structure occurs on the north flank of a potential feeder structure and is generally coincident with a sharp gradient in the magnetic field signature, extensive resistivity and conductivity anomalies, and outcropping palladium mineralization (Figure 1). The planned holes will cover a distance of approximately 350 metres extending both to the east and west of hole EBL20-13.
Figure 1. Planned Holes for the Central Parisien Lake target area, East Bull Lake Intrusion.
The Company is currently finalizing plans for several drill holes in the East Lobe of the intrusion that will target coincident geological, geophysical and geochemical anomalies similar to those seen in the Central Parisien Lake target area. Drilling on the East Lobe is expected to commence in mid-February.
New price target C$ $.42 200% above current PPS $.14
Fundamental Research report has been released.
Based on the
Thierry PEA fair value of $.20
Bull Run fair value $.24
- $.02 Working capital net debt
New value $.42
I was hoping for more value for Thierry but that one has a long time before any production. Its true value will not be seen for long time.
Canada Silver Cobalt Retains SGS for Re-2OX Pilot Plant for Battery Metals Production
BY Canada NewsWire
— 1:00 PM ET 01/15/2021
COQUITLAM, BC, Jan. 15, 2021 /CNW/ - Canada Silver Cobalt Works Inc. ( CCWOF
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) (the "Company" or "Canada Silver Cobalt") is pleased to announce it has signed an agreement with SGS Canada Inc. to proceed with the Re-2OX pilot plant. This critical step will allow the Company to accelerate the production of client-specific battery metals for the North American electric vehicle (EV) market, a key strategy for the Company.
Highlights of SGS Work
Bench-scale optimization program
Pilot plant flowsheet design
Stage 1 Pilot plant, build and operate at Lakefield, Ontario
In 2018 SGS Lakefield used the environmentally friendly Re-2OX process to recover 99% of the cobalt and 81% of the nickel from a composite of gravity concentrates while also removing 99% of the arsenic, a long-time issue in this cobalt-rich Cobalt Camp. The gravity concentrates graded 9.25% cobalt, 5.65% nickel, 49.9% arsenic and 9,250 g/t silver. The Re-2OX process was used at SGS to produce a technical grade cobalt sulphate hexahydrate at 22.6%, directly from cobalt-rich gravity concentrates produced from the first level of the Castle mine. The 22.6% cobalt sulphate compound exceeded the specifications required by battery manufacturers at that time.
The plan calls for SGS to design and build the Stage 1 pilot plant at Lakefield, Ontario. Feed material for this test work will come from the underground at the Castle mine, the high-grade silver discovery Robinson Zone, Beaver and Castle tailings, recycled batteries, and from newly acquired properties.
Temiskaming Testing Laboratories (TTL) is an analytical facility the Company acquired in 2020 and, as a prominent Silver-Cobalt explorer in the region, we are taking all the necessary steps to become a producer of both silver and battery metals for the EV market, while fully developing all of our assets. Feed material will be North American, with production specifically designed for the North American EV market.
Management sees the Re-2OX pilot plant as a long-term strategic advantage that will facilitate the production of battery metals for the EV market for many years. More importantly, production can be certified as ethically sourced within stringent Canadian environmental standards and traceable verification of a closed-loop supply chain that will ensure this product is highly sought-after and could even possibly garner a premium due to source verification. The cobalt ore will come from the Cobalt region including from the Castle property currently being aggressively drilled for high-grade silver and battery metals.
Frank Basa, CEO and Director commented, "back in the day, in the Cobalt Camp, the approach was simple; they followed the high-grade silver veins and discarded all the other material which was in fact battery metals that graded over 10 percent cobalt equivalent in base metals. The economics of harvesting both the base metals and silver, then adding value by processing it into premium EV battery metals will provide the Company with two solid income streams and we are excited for the future as the High-Grade and Technology Leader in Canada's Silver Cobalt Heartland."
The Company has also retained the services of ONSite Labs as an independent contract operator of the TTL facility. ONSite are commercial analytical lab operators. Over the next four months, ONSite Labs will process samples to prove the ability to produce viable data with the highest standards of quality control. It is anticipated that the lab will be fully operational and open for business by the summer of 2021. CEO Frank Basa notes that "adding ONSite is a huge plus and turn-around times should be much shorter than what we have been experiencing. The key here is that although they will be operating in TTL, they will be independent which allows us to use their services in an arms-length relationship."
Although electric vehicles have been increasingly in the news and can been seen on the roads with increasing regularity, the reality is that the EV megatrend is just starting. Each month another country, state, province or jurisdiction goes on record stating the date after which it will no longer permit the sale of combustion engine powered vehicles. EV industry analysts have noted that once the price for a new electric vehicle is equal to a new gas-powered vehicle, adoption will go fully mainstream and demand will go vertical. The main source of power for EV's continues to be Lithium-Ion batteries where cobalt's role in the chemistry ensures stability and enhances range.
Cobalt is a strategic metal due to its wide range of applications aside from battery technology which includes medical devices but is also important in defence and military applications. North America is in dire need of a secure supply, especially the United States. This deficiency and unintended reliance on external sources fully came to light when, on January 9, 2020, a joint press release between the United States and Canada was issued titled "Canada and the U.S. Finalize Joint Action Plan on Critical Metals Collaboration".
There are other battery metals that will also be in demand such as nickel and manganese, so the Company has been staking additional properties that have the potential for these and other battery metals. Several properties have either been acquired or staked mainly in Quebec with the goal of creating a portfolio of properties.
Location
The Castle Property is 15 km east of Pan American Silver's Juby gold deposit, 30 km due south of Alamos Gold's Young-Davidson mine, 75 km southwest of Kirkland Lake Gold's Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
I heard from Braveheart CEO that FRC is about to update their report on Braveheart to include Thierry PEA info. Stay tuned.
Braveheart Announces Positive Preliminary Economic Assessment for Thierry Mine Project
Calgary, Alberta--(Newsfile Corp. – January 14, 2021) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB:RIINF) ("Braveheart" or the "Company") is pleased to announce the completion of a positive Preliminary Economic Assessment (“PEA”) for its newly acquired Thierry Mine Project (“Thierry”) near Pickle Lake, Ontario. The PEA was independently prepared by P&E Mining Consultants Inc. (“P&E”) of Brampton, Ontario under the supervision of Eugene J. Puritch, P.Eng., FEC, CET.
Highlights of the PEA
This PEA is focused solely on mining of the Mineral Resources at the Thierry underground mine and provides a solid base case for moving the Project forward. The PEA indicates a 14 year mine plan based on a 4,000 tonne per day underground mining and processing operation. The mine plan assumes the potentially extractable tonnage of Measured, Indicated and Inferred Mineral Resources is diluted by 20% and a 90% mine recovery factor is applied. Measured and Indicated Mineral Resources represent 8,131,000 tonnes at 1.46% Cu, 0.18% Ni and 3.7 g/t Ag. Inferred Mineral Resources represent 11,507,000 tonnes at 1.46% Cu, 0.15% Ni and 6.1 g/t Ag. Palladium, platinum and gold do not make material contributions to metal revenues.
Metal prices are based on long term industry consensus with copper representing the primary contribution to revenues. US metal prices used in the PEA were $3.48/lb Cu, $8.00/lb Ni, $21.00/oz Ag, $1,250/oz Pd, $1,100/oz Pt and $1,600/oz Au. A USD exchange rate of 0.75 is applied.
Life of mine (“LOM”) processing recovers 880,000 tonnes of copper concentrate at 30% Cu. In addition, 157,000 tonnes of nickel concentrate at 8% Ni are recovered. This results in 567,000,000 lbs of payable Cu and 21,000,000 lbs of payable Ni. LOM revenues from net smelter returns are estimated at $2,579 million.
LOM operating costs are $1,063 million. Mining costs are estimated at $38.64 per tonne, processing costs are $14.47 per tonne and G&A costs are $5.30 per tonne. C1 cash operating costs are $1.43/lb in CuEq and all-in sustaining costs (“AISC”) are $1.98/lb in CuEq.
LOM capital costs are estimated at $710 million and include pre-production capital costs of $407 million.
LOM cash flow in terms of EBITDA is $1,516 million.
Pre-tax Net Present Value (“NPV”) is estimated at $373 million using a 6% discount rate. Pre-tax Internal Rate of Return (“IRR”) is 23%.
Net cash flow of $1,516 million less taxes of $256 million and capital expenditures of $710 million results in an after-tax cash flow of $549 million. After-tax NPV using a 6% discount rate is estimated at $242 million. After-tax IRR is 19%.
The prior independent National Instrument 43-101 ("NI 43-101") Technical Report and Mineral Resource Estimate for the Thierry Project was completed by P&E Mining Consultants Inc. in February 2012 and is available on Cadillac Venture Inc.’s SEDAR profile at www.sedar.com. The previous 2012 Thierry and K1-1 Mineral Resource Estimates have been reviewed taking into account current metal prices, US$ exchange rate trailing averages and recently updated operating costs. P&E’s findings are that the 2012 Mineral Resource Estimates are valid for use in the PEA. The current Thierry underground Measured and Indicated Mineral Resource is 8,815,000 tonnes at a grade of 1.66% Cu and 0.19% Ni. There are a further 14,922,000 Inferred tonnes at a grade of 1.64% Cu and 0.16% Ni. The Thierry Project also contains a near surface current Inferred Mineral Resource at the K1-1 Deposit of 53,614,000 tonnes at a grade of 0.38% Cu and 0.10% Ni. Lesser amounts of palladium, platinum, gold and silver occur in all deposits.
Ian Berzins, President and CEO of Braveheart commented: “We are extremely pleased with the results of the PEA which is focused solely on the current underground Mineral Resource. There remains excellent potential to increase and upgrade the quality of the near surface mineralization at Thierry particularly at the K1-1 location thereby adding additional years of production or providing the basis for an increase in annual throughput. Braveheart acquired a 100% interest in the Thierry Property for approximately $2.19 million in cash and shares so this result is extremely accretive. Braveheart now has two significant copper projects in favourable Canadian mining jurisdictions”.
WOW PEA on Thierry just released. It looks pretty darn good. I look forward to how Fundamental Research Corp report uses this PEA to recalculate the fair value of Braveheart. I think it should more than double the old target of $.24 USD. Watching and waiting.
I hear that the next report with price target update will be released after the Thierry PEA is done. Target for PEA is sometime during this quarter. So likely late March. I would expect that their current $.24
target (which does not include any Thierry value should more than double once they add Thierry fair value.
Somebody likes Grid
Mackenzie reports that the number of Shares and Warrants of Grid Metals held by Mackenzie’s managed accounts as at
December 31st, 2020 was 8,000,001 Shares and Warrants, representing approximately 11.258% of the total Shares outstanding of 71,060,734.
Braveheart Announces Renegotiation of Loan Agreement and Partial Settlement of Debt
Calgary, Alberta--(Newsfile Corp. - January 12, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB:RIINF) ("Braveheart" or the "Company") is pleased to announce that it has renegotiated terms of its senior secured loan agreement with Matlock Farms Ltd ("Matlock"), a company controlled by Aaron Matlock, a director of Braveheart.
The loan, which has a principal amount of $5,000,000 and was put in place in January 2019, carries an interest of 14.8% for a term of four years. Effective January 19th, 2021, the interest rate will be reduced to 10% for the balance of the loan, which expires on January 19, 2023. The parties have agreed that $780,000 of accrued interest due to Matlock will be settled with the issuance of 6,500,000 common shares of Braveheart, subject to the required approval of the TSX Venture Exchange.
Rolling rolling rolling, keep those doggies rolling
Grid'S stock behaving very well. Keep it up.
Grid Metals Commencing Drill Program at East Bull Lake Palladium Property 1/7/2021
TORONTO, ON / ACCESSWIRE / January 7, 2021 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to provide shareholders with an update on corporate developments and activities. The Company announced on December 24, 2020 the closing ( subject only to the final regulatory approval of the transaction) of a non brokered financing which raised gross proceeds of $2.74 million
East Bull Lake Palladium Project - Drill Program
The Company is pleased to announce that it will be proceeding with a drill program at the East Bull Lake Palladium Property. The initial target will be the Parisien Lake area where the Company recently intersected a near surface zone of palladium-dominant mineralization featuring 119 metres averaging 1.13 g/t palladium equivalent (Pd Eq) grade including 48 metres averaging 1.85 g/t Pd Eq (see Company news release dated Dec. 3, 2020). Drilling is expected to commence in mid January and will consist of a minimum of 3,000 meters to be completed in the Parisien Lake and East Lobe target areas. More detailed information on the drilling plan will be provided near the commencement of the program.
Grids' East Bull Lake Palladium Property covers approximately 85% of the ~20 kilmotre x ~ 4 kilometre East Bull Lake Intrusion located 80 km west of Sudbury, Ontario. The complex hosts widespread magmatic sulfide mineralization dominated by palladium and copper and including significant quantities of platinum, gold and nickel. Rising demand for palladium use in autocatalysts and a lack of new global supply provides a solid fundamental backdrop to Grid's exploration initiative to outline a significant new deposit at East Bull Lake.
Bannockburn Nickel Property - Timmins
Demand for nickel projects is expected to increase in the coming years with greater adoption of electric vehicles. Grid owns a 100% interest ( subject to a 2% NSR ) in mining claims comprising the Bannockburn Nickel Property south of Timmins, Ontario. The property was acquired from Outokumpu Mining in 2003. The property hosts disseminated nickel mineralization within a large serpentinized ultramafic body. The geologic target is similar to Canada Nickel Company's Crawford Project. Bannockburn also hosts several known lenses of komatiite-hosted, nickel-bearing massive sulfides.
Grid has commissioned a NI 43-101 Technical Report on the Bannockburn Propery which is being completed by Caracle Creek Consulting. The report is expected to be completed in the next several weeks. The report will summarize the historical information on the project including a significant amount of geophysics and drilling completed by Outokumpu as well as the work completed from 2003 to 2005 by Grid Metals ( then called Mustang Minerals Corp.)
Annual Meeting
The annual meeting of the Company was held on January 6, 2021 after being delayed previously due to Covid 19. Robin Dunbar, Thomas Meredith and Edward Munden were re-elected directors of the Company. The resolutions contained in the Management Information Circular dated November 25, 2020 were approved by shareholders.
Dave Peck P. Geo is the Qualified Person for Grid Metals for purposes of National Instrument 43-101 and has approved the technical content of this press release.
About Grid Metals Corp.
Grid Metals Corp. is an exploration and development Company that has a diversified portfolio of projects in the nickel-copper-platinum group metal sectors. These commodities are vital to the emerging battery metals, energy storage and automotive sectors. Grid's projects are located in Canada and all are near infrastructure. The Company is focused on timely advancement of its property portfolio through prudent exploration and development activities. To find out more about Grid Metals Corp., please visit www.gridmetalscorp.com.
On Behalf of the Board of Grid Metals Corp.
Grid has commissioned a NI 43-101 Technical Report on the Bannockburn Propery which is being completed by Caracle Creek Consulting. The report is expected to be completed in the next several weeks. The report will summarize the historical information on the project including a significant amount of geophysics and drilling completed by Outokumpu as well as the work completed from 2003 to 2005 by Grid Metals ( then called Mustang Minerals Corp.)
Thanks Middleborder, I anticipate a very good year for Medallion. They are getting close to finally producing. They have a very exciting process.
Braveheart Resources Commences Ore Sorting Study at Bull River Mine Project
Calgary, Alberta--(Newsfile Corp. - January 5, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart" or the "Company") is pleased to announce the commencement of an ore sorting study for its 100% owned Bull River copper, gold and silver mine project. Braveheart has engaged ABH Engineering ("ABH"), a world leader in ore sorting technology assessment and installation, to complete this study.
Ore sorting or pre-concentration of mineralized material has the potential benefit of increasing the mill feed grade which can result in an improved net present value ("NPV") of a mining project. Potential benefits include a lowering of operating costs on a unit basis, a reduction in the volume of fine tailings created through the milling process and the overall volume of material transported to the tailings storage facility, a reduction in power consumption particularly in the grinding circuit and a lower overall environmental impact.
Braveheart plans to advance the Bull River mine project in a phased approach wherein a surface stockpile of mineralized material will provide the initial feedstock to an up-graded 700 tonne per day mill. Ore sorting capability could be introduced ahead of the grinding circuit.
Braveheart recently announced the commencement of a Preliminary Economic Assessment ("PEA") for its newly acquired and 100% owned Thierry Mine Project ("Thierry") near Pickle Lake, Ontario. Thierry is a past-producer of copper, nickel, palladium, platinum, gold and silver with similar copper grades to the Bull River mine project. The Thierry underground is currently flooded and there is no milling facility on site. Depending on the results of the ore sorting study at the Bull River mine project and the PEA at Thierry, Braveheart may decide to incorporate ore sorting capability into the preliminary mill design for Thierry.
Very good, detailed interview.
19% Big pop this morning.
+16% Getting a nice pop this morning.
In a surprise twist, investors see copper as the second-best performing asset for 2021. According to the survey, 161 voters or 16% saw the red metal outperforming next year.
Copper’s outlook comes as prices continue to hold near their highest level in eight years. Analysts note that copper is benefiting from significant supply and demand imbalances. As the global economy starts to recovery from the COVID-19 pandemic, many analysts expect copper demand to grow while supply is expected to shrink.
https://www.kitco.com/news/2020-12-24/Silver-price-to-shine-the-brightest-in-2021-gold-is-third-most-popular-asset.html
High-Grade Visible Gold at 25 Grams Per Tonne Intersected at the Robinson Zone
COQUITLAM, BC, Dec. 17, 2020 /CNW/ - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that Canada Silver Cobalt Works intersected high-grade gold mineralisation with cobalt within the high-grade silver-cobalt mineralized vein structures at the Castle property. Drilling continues around the clock, seven days a week with 2 drills. A 50,000-meter drill program is in place of which 18,000 meters have been completed.
Gold Highlights:
CS-20-31 intersected 24.95 g/t Au over 0.30 meters from 49.70 – 50.00m with visible gold in calcite veining within Archean volcanic tuff.
CS-20-31, drilled towards the North, intersected 3.82 g/t Au over 2.86 meters from 451.00 - 453.86m, including 6.11 g/t Au over 1.66 meters from 451.52 - 453.18m.
CS-20-25, collared 300 meters northwest of CS-20-31, intersected three separate vein structures at shallower levels. This hole intersected 5.00 g/t Au over 1 meter, from 315.00 – 316.00m; 0.78 g/t Au over 0.8 meters, from 145.50 - 146.30m; and 0.6 g/t Au over 1 meter, from 240.00 – 241.00m.
The gold-cobalt mineralisation found in hole CS-20-31 is the fourth potential expansion to the Robinson system, giving at least 5 mineralized veins in the area. The vein in hole CS-20-31 appears to be a different orientation to the other en echelon veins identified and is the first vein in the Robinson system with significant gold results. A percentage of holes in this program has been allocated to identifying and following up on structures in this orientation. With this new discovery, the information previously gathered to the west is being revisited and reinterpreted to identify a potential connection between the Archean gold system previously identified and these veins found in the diabase.
Matt Halliday, P.Geo., Canada Silver Cobalt's President, commented: "Hole CS-20-25 is confirming the working hypothesis regarding the potential correlation between the gold mineralization in the Robinson Zone and that previously identified in the gold zone immediately west of the Robinson where substantial Archean alteration typically associated with gold mineralisation has been recorded. Significantly, in hole CS-20-31, a gold structure within the Robinson Zone, that is associated with the silver-cobalt veins of the diabase, has been identified. Given the reports from this historic Camp of silver bars containing recoverable amounts of gold, this newly identified gold mineralization is extremely exciting. Additionally, CS-20-31 has visible gold near surface. This, and identifying further gold mineralization near surface, will dramatically impact the economics of the Robinson Zone vein system."
Gold Target Above the Diabase
Starting 40 meters downhole and continuing to 368 meters, CS-20-24 intersected multiple, potential gold-bearing quartz-carbonate, multi-generational veins with sulphide mineralisation and intense alteration in the Archean package above the Nipissing diabase. Arsenopyrite was also noted in feldspar porphyry.
As reported by Canada Silver Cobalt on March 2, 2020, the last drill hole that targeted gold mineralisation at Castle East (CS-19-19) intersected 4.3 grams per tonne gold over four metres and 1.5 g/t Au over 12.5 metres within a 30-metre mineralised zone (core length, true width unknown at this time) grading 0.70 g/t (vertical depth approximately 240 metres). This broad interval included one metre that returned 15.2 g/t Au. This early-stage gold discovery is approximately 460 meters southwest of the visually encouraging zones encountered in CS-20-24, and the potential relationship between the two areas is being investigated as geologists await assays for this latest hole.
Now, with gold found in CS-20-31 near surface and within the diabase, the potential corridor of Archean gold has been increased by over 200m at surface. If the gold in the cobalt-silver veins comes from reactivated Archean structures, this could also indicate gold at depth below the diabase.
Location
The Castle Property is 15 km east of Pan American Silver's Juby gold deposit, 30 km due south of Alamos Gold's Young-Davidson mine, 75 km southwest of Kirkland Lake Gold's Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
http://www.newswire.ca/en/releases/archive/December2020/17/c4688.html
Grid Metals Corp. Closes C$2.74M Private Placement
12/24/2020
TORONTO, ON / ACCESSWIRE / December 24, 2020 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to announce that its has closed its previously announced private placement for gross proceeds of
C$ 2,742,966 (the "Offering"), including exercise of the Company's over-allotment option. Under the Offering, the Company sold the following securities:
2,833,336 units of the Company (the "Units") at a price of C$0.15 per Unit;
4,988,028 flow-through units of the Company (the "FT Units") to traditional flow-through purchasers at a price of C$0.17 per FT Unit; and,
7,000,002 flow-through units of the Company (the "Charity FT Units") sold to charitable flow-through purchasers at a price of C$0.21 per Charity FT Unit.
Each Unit consisted of one common share of the Company (each, a "Common Share") and one half of one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of C$0.22 at any time on or before December 24, 2022. Each FT Unit and Charity FT Unit will be comprised of one common share of the Company to be issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one Warrant.
The net proceeds from the Units will be used for exploration primarily of the Company's East Bull Lake Palladium property and general working capital purposes. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act ("Qualifying Expenditures"). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2020,
Adding the Thierry Mine Project greatly increases the fair value of Braveheart and NONE of that value is reflected in the the current pps. In fact the current pps did not come close to reflecting the fair value of Bull River mine. So the market has a lot of catching up to do.
Braveheart Resources Commences PEA on Thierry Mine Project
Calgary, Alberta--(Newsfile Corp. - December 24, 2020) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB:RIINF) ("Braveheart" or the "Company") is pleased to report the commencement of a National Instrument 43-101 ("NI 43-101") Preliminary Economic Assessment ("PEA") on the recently acquired Thierry Mine Project located near Pickle Lake in northwest Ontario, Canada.
The Company has engaged Eugene Puritch, P.Eng., FEC, CET to direct and manage a team of independent consultants with P&E Mining Consultants Inc. to complete the PEA. The most recent independent NI 43-101 Technical Report and Resource Estimate was completed by P&E Mining Consultants Inc. in February 2012 (the "2012 Thierry Technical Report") and is available on Cadillac Ventures Inc.'s. SEDAR profile at www.sedar.com. The reader is cautioned that a Qualified Person has not done sufficient work to classify the Mineral Resources stated in the 2012 Thierry Technical Report as current Mineral Resources. Braveheart is not treating this historical Mineral Resource Estimate as current Mineral Resources. While this Mineral Resource Estimate was prepared in accordance with NI 43-101 and CIM 2005 in effect at the time, there is no guarantee that it would be consistent with current standards and it should not be regarded as such. Braveheart has not undertaken any independent verification of the data upon which the historical Mineral Resource Estimate is based. The historical Mineral Resource Estimate is considered relevant to assess the mineralization potential of the Property.
The PEA will focus on mining of the Mineral Resources at the Thierry underground mine only and will include a review and update on capital, operating and G&A costs for the underground mine and surface processing facilities. It will also include an update on cash flow models and financial analysis as well as an up-date on the NI 43-101 Technical Report. The report is expected to be complete in the first quarter of 2021.
Fair value ofThis is now worth double what is was pior to the Thierry closing. So now cuurrent pps is grossly undervalued. Just need the market to reward this. Easier said than done right?
Braveheart Resources and Cadillac Ventures Announce the Closing of a Purchase and Sale of the Thierry Mine Project
Calgary, Alberta and Toronto, Ontario--(Newsfile Corp. - December 23, 2020) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart") and Cadillac Ventures Inc. (TSXV: CDC) (OTC: CADIF) ("Cadillac") are pleased to announce that they have closed on the previously announced (see Braveheart press releases of August 18, 2020, October 21, 2020 and December 18, 2020) purchase by Braveheart of a 100% interest in the Thierry Mine Project (the "Thierry Project") near Pickle Lake, Ontario from Cadillac (see Cadillac press releases of August 18, 2020, October 21, 2020, November 12, 2020 and December 18, 2020).
Braveheart has purchased all the shares of Cadillac Ventures Holdings Inc., Cadillac's wholly-owned subsidiary which owns the Thierry Project, for a total consideration of (1) $275,000 cash, which represents $300,000 net of $25,000 previously advanced by Braveheart to Cadillac; (2) the issue of 11,000,000 Braveheart common shares to Cadillac; (3) the issue of up to an additional 2,500,000 Braveheart common shares following delivery of the pending Updated Rehabilitation Plan to the Ministry of Energy, Northern Development and Mines of Ontario ("MENDM") for Thierry, with the number of potential Braveheart shares to be reduced from 2,500,000 based on 50% of the amount of additional financial assurance that needs to be posted with MENDM, above the $400,000 as reflected in such plan and using the closing price of the BHT Shares on the date of the Updated Rehabilitation Plan, and Cadillac shall also reimburse Braveheart in cash to the extent that the additional financial assurance exceeds the value of the 2,500,000 Braveheart common shares; and (4) a 2% net smelter royalty ("NSR") to be retained by Cadillac of which 1% of the NSR can be purchased by Braveheart for $1,000,000.
The Thierry Project is a past-producing copper and nickel mine located approximately 15 km west of Pickle Lake, Ontario and accessible on a year-round basis by paved and all-weather roads. The property is approximately 4,700 hectares in size and contains a NI 43-101 mineral resource. There is a municipal airport, nearby rail system and provincial power grid within eight km of the mine. The underground infrastructure includes a three-compartment shaft, production decline to 520 metres below surface and lateral developments on three levels. The underground workings are currently flooded.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in favourable and proven Canadian mining jurisdictions. Braveheart's main asset is the Bull River Mine project near Cranbrook, British Columbia which has a current mineral resource containing copper, gold and silver.
About Cadillac Ventures Inc.
Cadillac Ventures Inc. is an exploration company listed on the TSX-V. Following the sale of Cadillac Ventures Holdings Inc. Cadillac's asset is the Burnt Hill Tungsten property located in New Brunswick, which contains a NI 43-101 mineral resource. Cadillac is presently valuating other mineral opportunities.
Braveheart Resources (TSXV: BHT) gained by $0.01 or 7.41% today to close at $0.145 per share and has gained by 20.83% since NIA's December 2nd BHT update at $0.12 per share. BHT is currently up by 163.63% since NIA initially announced BHT as its #1 favorite copper stock suggestion on June 29th at $0.055 per share, but BHT remains below its August 20th high of $0.17 per share. NIA believes that BHT's Bull River Mine is set to become one of Canada's next producing copper mines.
Nice pop. Need volume though
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Braveheart Resources Inc.
Braveheart Resources and Cadillac Ventures Enter Share Purchase Amending Agreement for the Purchase and Sale of Thierry Mine Project and Cadillac Terminates Earn-In Option Agreement with Northern Fox Resources
Calgary, Alberta and Toronto, Ontario--(Newsfile Corp. - December 18, 2020) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart") and Cadillac Ventures Inc. (TSXV: CDC) (OTC: CADIF) ("Cadillac") are pleased to announce that they have amended the definitive share purchase agreement (the "Definitive Agreement") with respect to the previously announced (see Braveheart press release of August 18, 2020) purchase by Braveheart of a 100% interest in the Thierry Mine Project (the "Thierry Project") near Pickle Lake, Ontario from Cadillac (see Cadillac press releases of August 18, 2020, October 21, 2020 and November 12, 2020).
The Definitive Agreement for Braveheart to purchase all the shares of Cadillac Ventures Holdings Inc., Cadillac's wholly-owned subsidiary which owns the Thierry Project, is being amended to provide that the amount of the purchase price shall be an aggregate of (1) $275,000 cash to Cadillac on the closing date, which represents an unchanged $300,000 net of the $25,000 advanced; (2) Braveheart will issue 11,000,000 Braveheart common shares (reduced from 13,500,000 shares) to Cadillac on the closing date; (3) Braveheart will issue up to an additional 2,500,000 Braveheart common shares following delivery of the pending Updated Rehabilitation Plan to the Ministry of Energy, Northern Development and Mines of Ontario ("MENDM") for Thierry, with the number of potential Braveheart shares to be reduced from 2,500,000 based on 50% of the amount of additional financial assurance that needs to be posted with MENDM, above the $400,000 as reflected in such plan and using the closing price of the BHT Shares on the date of the Updated Rehabilitation Plan, and Cadillac shall also reimburse Braveheart in cash to the extent that the additional financial assurance exceeds the value of the 2,500,000 Braveheart common shares; and (3) the 2% NSR Royalty grant is unchanged.
The Thierry Project is a past-producing copper and nickel mine located approximately 15 km west of Pickle Lake, Ontario and accessible on a year-round basis by paved and all-weather roads. The property is approximately 4,700 hectares in size and contains a NI 43-101 mineral resource. There is a municipal airport, nearby rail system and provincial power grid within eight km of the mine. The underground infrastructure includes a three-compartment shaft, production decline to 520 metres below surface and lateral developments on three levels. The underground workings are currently flooded.
The Thierry Project transaction is expected to close in December 2020 and is subject to regulatory and third party approvals and customary conditions precedent.
Cadillac also announces that the Earn In Option Interest Assignment Agreement (the "Agreement") (see press release of December 9, 2019) between Cadillac and Northern Fox Resources Inc. ("NFR") has been terminated (see press release of September 30, 2020). The Agreement was terminated due to NFR not meeting conditions of the Agreement within the appropriate time periods. Further to the Cadillac press release of September 30, 2020, pursuant the September 28, 2020 Agreement, Cadillac is applying the funds that NFR formerly spent on the Thierry Mine Property (the "Property") under the Agreement to subscribe for 9,700,000 Cadillac common shares at $0.05 per share. NFR retains no interest in the Property. Pursuant the Agreement, Cadillac received 10,000,000 shares of NFR. The hold period for applicable securities is four months following the date of issuance. The common shares will be issued upon TSX Venture Exchange approval. NFR did not formerly own any shares in Cadillac.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in favourable and proven Canadian mining jurisdictions. Braveheart's main asset is the Bull River Mine project near Cranbrook, British Columbia which has a current mineral resource containing copper, gold and silver.
About Cadillac Ventures Inc.
Cadillac Ventures Inc. is an exploration company listed on the TSX-V. Following the sale of Cadillac Ventures Holdings Inc. Cadillac's asset is the Burnt Hill Tungsten property located in New Brunswick, which contains a NI 43-101 mineral resource. Cadillac is presently valuating other mineral opportunities.
Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
1-403-512-8202
admin@braveheartresources.com
Website: www.braveheartresources.com
Contact Information
Cadillac Ventures Inc.
Norman Brewster
President & Chief Executive Officer
1-905-837-2000
norman@cadillacventures.com
For more investor information on Braveheart, please contact
Kevin Shum
O: +1-647-725-3888 Ext 702
M: +1-604-376-0323
E: kevin@jeminicapital.com
E: info@jeminicapital.com
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about completion of the purchase of the Thierry project, strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation: Cadillac receiving the requisite shareholder approval; satisfaction of the other closing conditions of the Thierry Project transaction; risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
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