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BARU.v $BARUF Baru Gold Commences 25,000 Meters Drilling Development Program at Sangihe Binebase-Bawone Area
by @thenewswire on 14 Sep 2021, 06:30
(TheNewswire)
September 14, 2021 – TheNewswire - Vancouver, BC - Baru Gold Corp (“Baru”) or the (“Company”) (TSXV:BARU) | (OTC: BARUF) is pleased to announce, it has now approved the budget, signed the drilling contract, and embarked on a 25,000-meter drilling program.
This Resource Development program will incorporate the use of a track mounted Reverse Circulation (RC) drilling rig and is expected to take 12 months to complete. The Company has selected Indodrill of Bogor, Indonesia as the drilling contractor to complete the work.
The initial area targeted for this drilling is covered in the Sangihe 2010 NI 43-101 report which identified 835,000 ounces of gold as an inferred resource between Binebase and Bawone villages over 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.
Thereafter, exploration drilling will continue over an additional 1.45 kilometres from Bawone to South of Salurang village following the continuation of this geochemical anomaly. Once 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 of Baru Gold, commented, “With a pre-feasibility in progress and mine construction commencing soon, the Company’s activities will ramp up now that we are moving past the latest wave of pandemic and administration delays. This drilling program plan will prove up and add ounces, and exploration upside, to the Sangihe area which has only seen 10% of the land package of 42,000 hectares explored and sampled with modern techniques.”
Note: 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 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 late 2021/early 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 sufficient funds and strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Qualified Person
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.
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) 2021 TheNewswire - All rights reserved.
GMG.v $GMGMF GMG Supports Queensland University of Technology Development of Piezo-Supercapacitors for Self-Powered Medical Implants
by @thenewswire on 13 Sep 2021, 05:11
(TheNewswire)
BRISBANE, QUEENSLAND, AUSTRALIA – TheNewswire - September 13th, 2021 - Graphene Manufacturing Group Ltd. (TSXV:GMG) (“GMG” or the “Company”) is pleased to formalise its support to Queensland University of Technology – Centre for Biomedical Technologies (“CBT”) for the development of Piezo-Supercapacitors for Self-Powered Medical Implants by a Pilot Project Agreement (the “Agreement"). The Agreement details GMG’s contribution of expertise and graphene for the project.
Click Image To View Full Size
Figure 1: Human Peizoelectric Supercapacitors Requirements
The initial Industry Engagement Grant entitled “Piezoelectric Supercapacitors for Self-Powered Medical Implants” was awarded to Professor Cameron Brown, Associate Professor Deepak Dubal, Dr. Hong Duc Pham and the Chief Scientific Officer of GMG, Dr. Ashok Kumar Nanjundan.
Most modern electrical medical implants (such as pacemakers, insulin delivery pumps and as shown in the figure 1) actively regulate or replace bodily functions, and thus require batteries capable of reliably functioning for many years without failure. Implanted batteries typically require secondary surgeries for replacement, incurring significant inconvenience to patients in the forms of high costs, discomfort, and the risk of infection.
This project aims to develop capability for self-charging medical implants by engineering a novel power unit called a “Piezo-Supercapacitor”, which can harvest human body-motions, converting that energy into electricity and store it, in a single unit. The concept is based on a mechanism that hybridizes the two processes into one, where the mechanical energy is directly converted and simultaneously stored as electrochemical energy without going through the intermediate step of converting into electricity.
About GMG
GMG is an Australian based clean-tech disruptive company listed on the Canadian TSXV (TSXV:GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lube oil, biodiesel and diesel fuels.
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, leo@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 press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the development of the Piezo-Supercapacitor by GMG contemplated by the Agreement and the viability and effectiveness thereof, and the benefits of the Piezo-Supercapacitor versus implanted batteries. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available for review on the Company's profile at www.sedar.com, many of which are beyond the ability of the Company to control or predict. Such risk factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions that the development and effectiveness of the Piezo-Supercapacitor will be consistent with anticipated results. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Copyright (c) 2021 TheNewswire - All rights reserved.
GMG.v $GMGMF GMG Supports Queensland University of Technology Development of Piezo-Supercapacitors for Self-Powered Medical Implants
by @thenewswire on 13 Sep 2021, 05:11
(TheNewswire)
BRISBANE, QUEENSLAND, AUSTRALIA – TheNewswire - September 13th, 2021 - Graphene Manufacturing Group Ltd. (TSXV:GMG) (“GMG” or the “Company”) is pleased to formalise its support to Queensland University of Technology – Centre for Biomedical Technologies (“CBT”) for the development of Piezo-Supercapacitors for Self-Powered Medical Implants by a Pilot Project Agreement (the “Agreement"). The Agreement details GMG’s contribution of expertise and graphene for the project.
Click Image To View Full Size
Figure 1: Human Peizoelectric Supercapacitors Requirements
The initial Industry Engagement Grant entitled “Piezoelectric Supercapacitors for Self-Powered Medical Implants” was awarded to Professor Cameron Brown, Associate Professor Deepak Dubal, Dr. Hong Duc Pham and the Chief Scientific Officer of GMG, Dr. Ashok Kumar Nanjundan.
Most modern electrical medical implants (such as pacemakers, insulin delivery pumps and as shown in the figure 1) actively regulate or replace bodily functions, and thus require batteries capable of reliably functioning for many years without failure. Implanted batteries typically require secondary surgeries for replacement, incurring significant inconvenience to patients in the forms of high costs, discomfort, and the risk of infection.
This project aims to develop capability for self-charging medical implants by engineering a novel power unit called a “Piezo-Supercapacitor”, which can harvest human body-motions, converting that energy into electricity and store it, in a single unit. The concept is based on a mechanism that hybridizes the two processes into one, where the mechanical energy is directly converted and simultaneously stored as electrochemical energy without going through the intermediate step of converting into electricity.
About GMG
GMG is an Australian based clean-tech disruptive company listed on the Canadian TSXV (TSXV:GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lube oil, biodiesel and diesel fuels.
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, leo@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 press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the development of the Piezo-Supercapacitor by GMG contemplated by the Agreement and the viability and effectiveness thereof, and the benefits of the Piezo-Supercapacitor versus implanted batteries. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available for review on the Company's profile at www.sedar.com, many of which are beyond the ability of the Company to control or predict. Such risk factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions that the development and effectiveness of the Piezo-Supercapacitor will be consistent with anticipated results. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Copyright (c) 2021 TheNewswire - All rights reserved.
GLM.ca $GOLXF Golden Lake Samples Return Up to 9,920 g/t Silver in Grab Samples Returned From West Copperview Property Adjacent to Kodiak Copper Corp.’s MPD Property
by @accesswire on 9 Sep 2021, 05:00
VANCOUVER, BC / ACCESSWIRE / September 9, 2021 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) ("GLM" or the "Company") is pleased to announce initial results from samples taken at its Copperview Property, located in BC and contiguous to the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (KDK). Recently collected surface grab subcrop samples from the Deadman Lake target, on the West Copperview claims, have returned high grade silver values of up to 9,920 grams per tonne silver (g/t Ag) and 5,900 g/t Ag. These samples correspondingly returned 0.95 percent copper (% Cu), 2.45 percent lead (% Pb), and 1.28 percent zinc (% Zn) and 0.94%Cu, 4.33% Pb, and 1.82% Zn.
The above two grab samples represent subcrop material, were taken from old, partially collapsed bulldozer trenches that most likely represent the Mob-8 Minfile showing (Minfile 092HNE154, BC government designation). A total of 57 rock samples were taken over the Deadman Lake area of the West Copperview claims. In addition, 230 soil samples were taken over the same area, with assay results pending.
The Mob 8 showing is exposed in the vicinity of a gas pipeline, 520 metres north of the north end of Prosser Lake and 7.8 kilometres southwest of Missezula Lake. A west-striking shear zone, dipping 25 degrees south, cuts granite and quartz monzonite of the Late Triassic to Early Jurassic Allison Lake pluton. The zone is 2 metres wide and contains small quartz-carbonate lenses accompanied by pyrite, galena, argentite, azurite, malachite, chalcopyrite and tetrahedrite. A selected grab sample assayed trace gold, 25,852 grams per tonne silver (g/t Ag) and 8.06 per cent copper (% Cu)* (Assessment Report 5082, page 5). A chip sample across the shear zone analyzed 145.9 g/t Ag, 0.04 % Cu, 0.630 per cent lead (% Pb) and 0.41 per cent zinc (% Zn)* (Assessment Report 13603, page 6)….A quartz vein, 5 to 15 centimetres wide, is developed in the hanging wall of the shear zone. It strikes north and dips steeply west. The vein is mineralized with galena, chalcopyrite, chalcocite and malachite. A sample analyzed 858.2 g/t Ag, 0.862 % Cu, 2.589% Pb, and 1.473 % Zn * (Assessment Report 13603, page 6).
Chalcopyrite and pyrite occur in dark, fine-grained diorite 90 metres west and 120 metres east of the shear zone. One hundred and twenty metres to the north, chalcopyrite and bornite occur in epidote-filled fractures."
Figure 1. Location map of the MOB - 8 Showing and MT Mobile Geophysical Survey
The reader is cautioned that grab rock samples while not representative of the grade of mineralization of an occurrence or target, they are useful in determining prospectivity and geological features. The above rock samples were taken by personnel of Exploration Facilitation Unlimited Inc. and were delivered by the company's project manager to ALS Labs' facility in North Vancouver, B.C. All samples are analyzed for copper, gold, silver and 31 other elements. Gold is determined by ALS method Au-AA23, which is a fire assay with an atomic absorption spectroscopy finish on a 30-gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61, which is a four-acid digestion and inductively coupled plasma atomic emission spectroscopy assay. Golden Lake is reliant on ALS in North Vancouver, for its quality assurance/quality control protocol, as these are preliminary samples and limited in number.
Sample R-2242 comprised gossan material (baked appearance), with significant green and blue malachite oxide and thinly layered sulphides, and large quartz crystals and quartz vein material. Sample R-2243 comprised diorite gossan, with malachite and sulphides observed.
SAMPLE R-2242
Mike England, president of Golden Lake, states: "We have remained very active advancing our programs and defining targets on our Copperview properties in this emerging copper-gold porphyry district. The discovery of a high-grade silver showing, and multiple geophysical and geochemistry anomalies represent strong drill targets for the Company when permitting is completed."
The Company will be returning to the location of samples R-2242 and R-2243 with field crews in late September to conduct additional hand trenching, geological mapping, sampling and prospecting with a portable XRF instrument. Efforts will also focus on the rediscovery of three other Minfile showings in the Deadman Lake Area.
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.
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.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 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 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/663293/Golden-Lake-Samples-Return-Up-to-9920-gt-Silver-in-Grab-Samples-Returned-From-West-Copperview-Property-Adjacent-to-Kodiak-Copper-Corps-MPD-Property
GLM.ca $GOLXF Golden Lake Samples Return Up to 9,920 g/t Silver in Grab Samples Returned From West Copperview Property Adjacent to Kodiak Copper Corp.’s MPD Property
by @accesswire on 9 Sep 2021, 05:00
VANCOUVER, BC / ACCESSWIRE / September 9, 2021 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) ("GLM" or the "Company") is pleased to announce initial results from samples taken at its Copperview Property, located in BC and contiguous to the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (KDK). Recently collected surface grab subcrop samples from the Deadman Lake target, on the West Copperview claims, have returned high grade silver values of up to 9,920 grams per tonne silver (g/t Ag) and 5,900 g/t Ag. These samples correspondingly returned 0.95 percent copper (% Cu), 2.45 percent lead (% Pb), and 1.28 percent zinc (% Zn) and 0.94%Cu, 4.33% Pb, and 1.82% Zn.
The above two grab samples represent subcrop material, were taken from old, partially collapsed bulldozer trenches that most likely represent the Mob-8 Minfile showing (Minfile 092HNE154, BC government designation). A total of 57 rock samples were taken over the Deadman Lake area of the West Copperview claims. In addition, 230 soil samples were taken over the same area, with assay results pending.
The Mob 8 showing is exposed in the vicinity of a gas pipeline, 520 metres north of the north end of Prosser Lake and 7.8 kilometres southwest of Missezula Lake. A west-striking shear zone, dipping 25 degrees south, cuts granite and quartz monzonite of the Late Triassic to Early Jurassic Allison Lake pluton. The zone is 2 metres wide and contains small quartz-carbonate lenses accompanied by pyrite, galena, argentite, azurite, malachite, chalcopyrite and tetrahedrite. A selected grab sample assayed trace gold, 25,852 grams per tonne silver (g/t Ag) and 8.06 per cent copper (% Cu)* (Assessment Report 5082, page 5). A chip sample across the shear zone analyzed 145.9 g/t Ag, 0.04 % Cu, 0.630 per cent lead (% Pb) and 0.41 per cent zinc (% Zn)* (Assessment Report 13603, page 6)….A quartz vein, 5 to 15 centimetres wide, is developed in the hanging wall of the shear zone. It strikes north and dips steeply west. The vein is mineralized with galena, chalcopyrite, chalcocite and malachite. A sample analyzed 858.2 g/t Ag, 0.862 % Cu, 2.589% Pb, and 1.473 % Zn * (Assessment Report 13603, page 6).
Chalcopyrite and pyrite occur in dark, fine-grained diorite 90 metres west and 120 metres east of the shear zone. One hundred and twenty metres to the north, chalcopyrite and bornite occur in epidote-filled fractures."
Figure 1. Location map of the MOB - 8 Showing and MT Mobile Geophysical Survey
The reader is cautioned that grab rock samples while not representative of the grade of mineralization of an occurrence or target, they are useful in determining prospectivity and geological features. The above rock samples were taken by personnel of Exploration Facilitation Unlimited Inc. and were delivered by the company's project manager to ALS Labs' facility in North Vancouver, B.C. All samples are analyzed for copper, gold, silver and 31 other elements. Gold is determined by ALS method Au-AA23, which is a fire assay with an atomic absorption spectroscopy finish on a 30-gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61, which is a four-acid digestion and inductively coupled plasma atomic emission spectroscopy assay. Golden Lake is reliant on ALS in North Vancouver, for its quality assurance/quality control protocol, as these are preliminary samples and limited in number.
Sample R-2242 comprised gossan material (baked appearance), with significant green and blue malachite oxide and thinly layered sulphides, and large quartz crystals and quartz vein material. Sample R-2243 comprised diorite gossan, with malachite and sulphides observed.
SAMPLE R-2242
Mike England, president of Golden Lake, states: "We have remained very active advancing our programs and defining targets on our Copperview properties in this emerging copper-gold porphyry district. The discovery of a high-grade silver showing, and multiple geophysical and geochemistry anomalies represent strong drill targets for the Company when permitting is completed."
The Company will be returning to the location of samples R-2242 and R-2243 with field crews in late September to conduct additional hand trenching, geological mapping, sampling and prospecting with a portable XRF instrument. Efforts will also focus on the rediscovery of three other Minfile showings in the Deadman Lake Area.
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.
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.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 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 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/663293/Golden-Lake-Samples-Return-Up-to-9920-gt-Silver-in-Grab-Samples-Returned-From-West-Copperview-Property-Adjacent-to-Kodiak-Copper-Corps-MPD-Property
SKYG.v $SRKZF Newfoundland neighbour out with some beautiful intercepts...New Found Intercepts 111.4 g/t Au over 2.65 m and 76.8 g/t Au over 2.80 m at Lotto Main Vein: Doubles the Vertical Depth to 200 m
by @newswire on 8 Sep 2021, 04:30
VANCOUVER, BC, Sept. 8, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce recently received assay results from seven holes drilled at the Lotto Zone ("Lotto"), located approximately 2 km north of the Keats Zone discovery. These holes were completed as part of the Company's ongoing 200,000 m diamond drill program at its 100% owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.
Highlights
Highlight intervals are summarized below. Additional results are provided in Table 2.
Hole No.
From
(m)
To (m)
Interval
(m)*
Au (g/t)
Zone
NFGC-21-233
169.20
171.85
2.65
111.36
Lotto Main
NFGC-21-278
131.35
133.40
2.05
15.54
Lotto Main
NFGC-21-311
294.65
297.45
2.80
76.81
Lotto Main
Including
294.65
296.55
1.90
112.51
*
Note that the true width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 80% to 90% of reported intercepts. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2 m; grades have not been capped in the averaging.
The interval of 76.81 g/t Au over 2.80 m in NFGC-21-311 is almost 90 m vertically deeper than the previously reported interval in NFGC-21-201 which yielded 683.1 g/t Au over 2.45 m (see press release dated June 23, 2021) and has doubled the depth of the Main Vein to over 200 m vertically, starting at surface and open to depth.
The high-grade intervals reported to date occur in a steeply (78°) east-dipping vein that is part of a network of north-south striking vein arrays that are spatially associated with the Lotto Baseline Fault Zone, a splay of the Appleton Fault Zone. Recent drilling has defined the vein network over a 340 m x 325 m area that remains open in all directions (see the plan view, 2D cross section, 3D composite cross section and long section in Figures 1, 2, 3 and 4 below).
The Company continues to test new targets at Lotto with current exploration focused on extending the Lotto Main Vein to depth and along strike.
The mineralization drilled at Lotto is often characterized by massive and vuggy textured veins containing very fine visible gold, arsenopyrite, chalcopyrite, boulangerite and ammonium-illite which are common traits found in epizonal systems, similar to the high-grade gold mineralization encountered at Keats (Figure 5).
Greg Matheson, P.Geo. COO of New Found, stated: "The Lotto Main Vein structure continues to show strong continuity and consistent widths of high-grade gold mineralization from two to ten plus meters width downhole (note that true widths are estimated at 80% to 90% of reported drill interval widths). While numerous secondary mineralized structures exist outside the Main Vein structure, we have started to target expansion of the Main Vein at depth with significant intercepts of 111.36 g/t over 2.65 m (NFGC-21-233) and 76.81 g/t Au over 2.80 m (NFGC-21-311). NFGC-21-311 is the deepest hole drilled to date and demonstrates significant persistence of continuity of the Lotto Main Vein to depth. The grades and widths at Lotto are outstanding and we are very excited to be consistently hitting these high-grade intervals as we step out to depth and along strike."
Figure 1. Lotto Plan View (CNW Group/New Found Gold Corp.)
Figure 2. Lotto Long Section (see B-B' on Plan View, Figure 1) (CNW Group/New Found Gold Corp.)
Figure 3. Lotto Cross Section (looking north, 12.5 m clipping, see A-A’ on Plan View, Figure 1) (CNW Group/New Found Gold Corp.)
Figure 4. 3D Lotto Composite Cross-Section (looking north, 325 m clipping) (CNW Group/New Found Gold Corp.)
Drill-hole Details
Hole No.
From
(m)
To (m)
Interval
(m)*
Au (g/t)
Zone
NFGC-21-109
146.55
148.60
2.05
6.17
Lotto
And**
152.70
161.50
8.80
19.30
Lotto Main
Including
154.20
157.40
3.20
51.30
And
179.00
181.00
2.00
1.03
Lotto
NFGC-21-205
216.00
219.00
3.00
4.75
Lotto Main
NFGC-21-211
NSV
Lotto Main
NFGC-21-233
169.20
171.85
2.65
111.36
Lotto Main
NFGC-21-278
131.35
133.40
2.05
15.54
Lotto Main
NFGC-21-285
163.40
167.30
3.90
6.99
Lotto Main
NFGC-21-311
294.65
297.45
2.80
76.81
Lotto Main
Including
294.65
296.55
1.90
112.51
Table 2: Summary of results reported in this release
*
Note that the true width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 80% to 90% of reported intercepts. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m, grades have not been capped in the averaging. ** Results released on March 23, 2021, from NFGC-21-109 updated with additional secondary zone results.
Hole No.
Azimuth
(°)
Dip (°)
Length
(m)
UTM E
UTM N
NFGC-21-109
300
-45
252
659012
5428912
NFGC-21-205
299
-46
254
659059
5428890
NFGC-21-211
297
-45.5
426
658943
5428864
NFGC-21-233
298
-45.5
342
659024
5428935
NFGC-21-278
299
-45.5
207
658984
5428985
NFGC-21-285
298
-45.5
201
659006
5428970
NFGC-21-311
299
-45.5
321
659107
5428914
Table 3: Details of drill holes reported in this release
Photos of Drill Core
Figure 5. Photos of mineralization from NFGC-21-311, approximately 296 m down hole depth (CNW Group/New Found Gold Corp.)
Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-311.
Queensway 200,000m Drill Program Update
Approximately 38 percent of the 200,000 meters have been drilled to date with approximately 21,000 meters of core pending assay results. Nine core rigs are currently operating, with a tenth scheduled to start in Q3 2021.
Sampling, Sub-sampling and Laboratory
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 80% to 90% 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 calculated intervals are reported over a minimum length of 2 meters using a lower cut-off of 1.0 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. 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 National Instrument 43-101 and 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 5% of sample pulps are sent to secondary laboratories for check assays.
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 Sept 8, 2021, 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 15 km west of Gander, Newfoundland, and just 18 km 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 200,000 m drill program at Queensway. Nine rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs in Q3 2021. With a current working capital balance of approximately $115 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Phone: (604) 562 9664
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 further exploration and drilling on the Company's Queensway gold project in Newfoundland, interpretation of results of the drilling program 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," "potential," "goal," "objective," "prospective," 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, 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 PDF (CNW Group/New Found Gold Corp.)
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SKYG.v $SRKZF Perron Project neighbour out with some outstanding intercepts...AMX.v $AMXEF
by @newsfile on 7 Sep 2021, 00:00
Amex Drills 102.07 g/t Gold Over 6.10 Metres and Announces Assay Results from 31 Additional Drill Holes Significantly Expanding the High Grade Zone Vertically and Along Strike
Highlights from the Deeper (Eastern) High Grade Zone include:
102.07 g/t Au over 6.10 m, including 822.49 g/t Au over 0.60 m, for a metal factor of 623 at a vertical depth of approximately 870 m in hole PE-21-386W1;
29.62 g/t Au over 8.40 m, including 333.42 g/t Au over 0.50 m, for a metal factor of 249 at a vertical depth of approximately 1,120 m in hole PE-21-318;
37.59 g/t Au over 6.20 m, including 356.58 g/t Au over 0.50 m, for a metal factor of 233 at a vertical depth of approximately 1,070 m in hole PE-21-287;
17.01 g/t Au over 7.40 m, including 136.18 g/t Au over 0.75 m, for a metal factor of 126 at a vertical depth of approximately 500 m in hole PE-21-360;
10.21 g/t Au over 7.40 m, including 109.53 g/t Au over 0.60 m, for a metal factor of 76 at a vertical depth of approximately 660 m in hole PE-21-360W1;
4.46 g/t Au over 15.60 m, including 89.14 g/t Au over 0.50 m, for a metal factor of 70 at a vertical depth of approximately 660 m in hole PE-20-165W2;
10.25 g/t Au over 6.10 m, including 53.71 g/t Au over 0.50 m, for a metal factor of 63 at a vertical depth of approximately 910 m in hole PE-21-301W1.
Highlights from the Shallower (Western) High Grade Zone include:
84.02 g/t Au over 5.60 m, including 540.06 g/t Au over 0.50 m and 386.58 g/t Au over 0.50 m, for a metal factor of 471 at a vertical depth of approximately 170 m in hole PE-21-391;
21.75 g/t Au over 14.90 m, including 136.06 g/t Au over 1.95 m, for a metal factor of 324 at a vertical depth of approximately 190 m in hole PE-21-367;
11.97 g/t Au over 6.95 m, including 77.51 g/t Au over 1.00 m, for a metal factor of 83 at a vertical depth of approximately 120 m in hole PE-21-371.
Montreal, Quebec--(Newsfile Corp. - September 7, 2021) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce the results from a multitude of drill holes focused on expansion and definition drilling of the High Grade Zone (HGZ). See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones.
Today's results are focused on on-strike expansion as well as definition drilling of the High Grade Zone as the Company works towards its maiden resource on the Perron Project. A complete list of results is available in Table 1 and presented in Figures 2, 3, and 4. Photos of visible gold in selected drill holes are presented in Figure 5. In addition to the results detailed below, Amex is awaiting results on over 17,359 samples at three labs from holes targeting the HGZ and Denise, as well as regional exploration drilling.
Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "I am very excited with today's results for several reasons. Firstly, we have drilled the highest grade hole at depth to date with hole PE-21-386W1 returning 102.07 grams per tonne of gold over 6.10 metres. We can now trace the high grade core of the HGZ over 800 vertical metres which is a very significant development in the expansion of this important zone. Also, it clearly demonstrates the zone is richer at depth and wider along strike. In addition to this very high-grade drill hole, our shallower drilling on the Western portion of the HGZ has significantly expanded the 'bonanza' area of the HGZ proving the super high grade core is continuous."
Trottier adds, "The HGZ is becoming one of the richest single gold zones of all the Canadian Archean orogenic gold deposits ever discovered. Almost every hole we drill confirms expansion, both laterally and vertically and significantly increases its overall grade and gold content per vertical meter. In addition to this, we recently reported a new copper rich VMS zone. Follow us closely, we are delivering and awaiting results from 18 holes which contain visible gold."
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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone
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Figure 2: Longitudinal section of the High Grade Zone, with today's released hole locations in green
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Figure 3: Closeup longitudinal section of the Upper (western) High Grade Zone
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Figure 4: Closeup longitudinal section of the Deeper (Eastern) High Grade Zone
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Figure 5: Photos of visible gold from a number of today's released drill holes
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Table 1: Assay results from the High Grade Zone at Perron
Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Zone
PE-21-386W1 939.00 945.10 6.10 102.07 ~870
Eastern HGZ
Including 943.90 944.50 0.60 822.49
Including 944.50 945.10 0.60 206.09
PE-21-318 1207.15 1215.55 8.40 29.62 ~1120
Including 1207.15 1209.25 2.10 115.99
Including 1208.75 1209.25 0.50 333.42
PE-21-287 1175.80 1182.00 6.20 37.59 ~1070
Including 1175.80 1176.30 0.50 61.29
Including 1176.30 1176.80 0.50 356.58
PE-21-360 569.45 576.85 7.40 17.01 ~500
Including 569.45 570.20 0.75 136.18
PE-21-360W1 554.35 561.75 7.40 10.21 ~490
Including 561.15 561.75 0.60 109.53
PE-20-165W2 713.00 728.60 15.60 4.46 ~660
Including 728.10 728.60 0.50 89.14
PE-21-301W1 1054.40 1060.50 6.10 10.25 ~910
Including 1055.20 1055.70 0.50 53.71
PE-21-294 847.50 857.60 10.10 3.92 ~750
Including 851.65 852.15 0.50 63.67
PE-21-286 822.80 825.50 2.70 13.37 ~720
Including 823.30 823.80 0.50 59.16
PE-21-300 865.75 869.40 3.65 4.62 ~770
Including 865.75 866.25 0.50 21.34
PE-21-340 487.10 495.20 8.10 2.08 ~420
Including 494.60 495.20 0.60 25.97
PE-21-347 1095.00 1103.50 8.50 1.81 ~1040
Including 1095.00 1096.10 1.10 7.13
PE-20-229W2 1279.60 1289.90 10.30 1.21 ~1170
Including 1282.35 1283.00 0.65 6.17
PE-21-300W1 852.80 863.10 10.30 1.14 ~760
Including 862.60 863.10 0.50 13.69
PE-21-271 323.60 324.20 0.60 6.76 ~275
PE-21-307 513.90 515.10 1.20 1.22 ~440
Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Zone
PE-21-391 213.90 219.50 5.60 84.02 ~170 Western HGZ
Including 218.50 219.00 0.50 540.46
Including 219.00 219.50 0.50 386.58
PE-21-367 211.10 226.00 14.90 21.75 ~190
Including 211.10 212.10 1.00 53.41
Including 221.85 223.80 1.95 136.06
PE-21-371 145.50 152.45 6.95 11.97 ~120
Including 150.35 151.35 1.00 77.51
PE-21-373 157.50 158.00 0.50 79.28 ~130
PE-21-356 203.00 210.10 7.10 3.73 ~160
Including 209.25 210.10 0.85 29.86
PE-21-349 230.50 231.75 1.25 8.07 ~180
PE-21-350 110.00 120.50 10.50 0.83 ~90
PE-21-354 120.00 130.20 10.20 0.73 ~100
PE-21-297 143.90 145.00 1.10 4.36 ~120
PE-21-366 733.85 742.80 8.95 0.48 ~660
PE-21-336 664.80 665.30 0.50 8.64 ~620
PE-21-324 176.65 178.15 1.50 2.43 ~160
PE-21-362 204.50 206.45 1.95 1.37 ~160
PE-21-376 139.15 142.00 2.85 0.84 ~110
PE-21-370 114.50 116.00 1.50 0.56 ~80
*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~70-80% in HGZ. Metal factor is defined to gold grade multiplied by core length.
Qualified Person
Maxime Bouchard, P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin, P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have 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 Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.
About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: 514-866-8209
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. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
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WHN.v $WTHVF Westhaven Drills 265 Metres of 0.49 g/t Gold and 118 Metres of 0.71 g/t Gold Near Surface at Shovelnose; Resumes Drilling
by @nasdaq on 7 Sep 2021, 04:30
VANCOUVER, British Columbia, Sept. 07, 2021 (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.
Westhaven is reporting assays for 17 holes from its ongoing drill campaign at Shovelnose. Westhaven has completed 28,400 metres of diamond drilling to date in 2021. An additional 16 holes are in the lab pending assays.
Wildfire Update:
As of Friday September 3rd, the Evacuation Order issued by the Thompson-Nicola Regional District Operations Centre (EOC) in Kamloops has been downgraded to an Evacuation Alert. Field crews and drill contractors are mobilizing to site and drilling will resume shortly. Once again, special thanks to the firefighters and first responders who put their lives at risk.
Recent Drilling Highlights:
SNR21-20 (South Zone: 38.00-303.00m)
265.00 metres (m) of 0.49 g/t gold (Au) and 1.84 g/t silver (Ag),
including 65.28m of 1.18 g/t Au and 3.37 g/t Ag,
including 2.00m of 7.30 g/t Au and 10.23 g/t Ag,
including 26.00m of 1.76 g/t Au and 4.00 g/t Ag,
including 0.80m of 15.85 g/t Au and 8.99 g/t Ag.
SNR21-27 (South Zone: 27.00-145.00m)
118.00m of 0.71 g/t Au and 2.12 g/t Ag,
including 32.00m of 1.88 g/t Au and 4.95 g/t Ag,
including 0.34m of 17.75 g/t Au and 22.40 g/t Ag,
including 1.00m of 13.95 g/t Au and 7.49 g/t Ag.
SNR21-29 (South Zone: 91.43-189.00m)
97.57m of 0.43 g/t Au and 1.88 g/t Ag,
including 7.00m of 3.26 g/t Au and 7.63 g/t Ag,
and (216.00-268.00m) 52.00m of 0.61 g/t Au and 1.33 g/t Ag,
including 8.00m of 1.93 g/t Au and 3.49 g/t Ag.
SNR21-30 (South Zone: 122.30-161.43m)
39.23m of 1.42 g/t Au and 9.80 g/t Ag,
including 22.71m of 2.25 g/t Au and 15.53 g/t Ag,
including 3.32m of 5.92g/t Au and 23.74 g/t Ag.
Please click the following link to the 2021 drill database table of assay results:
https://www.westhavengold.com/projects/shovelnose-gold/maps/
Gareth Thomas, President & CEO of Westhaven Gold, states: “These recent drill results at the South Zone confirm that along with multiple high-grade gold-silver veins, there are also significant widths of disseminated gold-silver. These broad intercepts are expanding the footprint of the known area of gold-silver mineralization. Once drilling resumes, the focus will be on recent vein intercepts (SNR21-37 to SNR21-40), northwest of the South Zone where pale-grey banded quartz with adularia and ginguro were observed in the core; assays pending. We will also be focusing on the FMN Zone, approximately 2.5 kilometres northwest of the South Zone, where assays are also pending.”
Peter Fischl, Exploration Manager, comments: “Resource drilling at the South Zone has confirmed the continuity of Vein Zones 1, 2 and 3 based on previous broadly spaced drilling from 2018-2020. This drilling has also confirmed the presence of broad intervals of lower grade gold mineralization occurring between Vein Zones 1 and 2. This mineralization is also seen as a halo that can encompass all three vein zones, as seen in hole SNR21-20, which returned 0.49 g/t Au over 265m. The presence of such mineralization adds to the potential for a bulk-tonnage resource at South Zone.”
Upcoming Drill Plans:
As a significant portion of the resource drilling has been completed at South Zone, the drill program is now focused on follow-up testing of stronger quartz veining seen in holes SNR21-37 to SNR21-40 in Vein Zone 1 in the northwestern portion of South Zone. Drilling will also take place northward towards the Lear target for infill and step-out drilling on Vein Zone 3. The FMN target remains a priority for follow-up drilling. Drilling will resume at FMN upon completion of the resource drilling at South Zone where the shallower portions of the mineralized horizon in Vein Zone 1 will be targeted at the 1200-1300m level. This will be following up the last hole drilled at FMN, hole SN21-175 (assays pending), which encountered quartz-adularia (+/- ginguro) veins contained in three subintervals of Vein Zone 1 spanning 246m downhole. Several CSAMT targets lying west of South Zone will be tested this fall as well.
Drilling at Franz tested for the northwestern continuation of Vein Zone 1. Hole SN21-170 intersected a section of rhyolite hosted hydrothermal breccia that returned 0.16 g/t Au, 0.20 g/t Ag and 135 ppm arsenic over 1.63m (280.15-281.78m). This intersection has extended Vein Zone 1 to the northwest by an additional 90 metres from where it was intersected in hole SN20-124 (0.71 g/t Au over 3.53m). Gold mineralization was also encountered at the top of hole SN21-170 in a second northwest striking zone of chalcedony veining hosted in rhyolite, lying about 100m southwest of Vein Zone 1. This zone was first identified in hole SN20-123, which returned 0.204 g/t Au, 0.345 g/t Ag and 311 ppm arsenic over 16.79m (58.65-75.44m). Hole SN21-170 returned 3.0m of 0.52 g/t Au (12-15m). This zone has now been traced for 350m and remains open 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.
Eight images accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2cd36bc5-4316-4016-a8b9-2f5e625aac09
https://www.globenewswire.com/NewsRoom/AttachmentNg/342148ea-69e7-440e-a1d1-c0ec9a57ab5b
https://www.globenewswire.com/NewsRoom/AttachmentNg/5164558d-7ad2-4d3e-88fb-88f38099b546
https://www.globenewswire.com/NewsRoom/AttachmentNg/e5ae77d5-9ff8-4806-90b9-213bbb3a5593
https://www.globenewswire.com/NewsRoom/AttachmentNg/528980c8-9b8f-4c82-9921-41769d61f343
https://www.globenewswire.com/NewsRoom/AttachmentNg/763a8e58-5623-4b35-9435-b48a72bd9c51
https://www.globenewswire.com/NewsRoom/AttachmentNg/cd3f3828-0741-4cbe-a8ba-1131659a852b
https://www.globenewswire.com/NewsRoom/AttachmentNg/6867c6ba-173d-4ba1-beb9-271d32405c1d
Primary Logo
Image 1
PLAN MAP
Image 2
INTERVALS WITH OVER 100 AU G-M
Image 3
CROSS-SECTIONS 1
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CROSS-SECTIONS 2
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CROSS-SECTIONS 3
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CROSS-SECTIONS 4
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LONG-SECTIONS 1
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LONG-SECTIONS 2
BARU.v $BARUF Baru Gold Acquires Majority of Phase One Targeted Land Acquisition
by @thenewswire on 7 Sep 2021, 06:30
(TheNewswire)
September 7, 2021 - TheNewswire - Vancouver, BC - Baru Gold Corp (“Baru”) or the (“Company”) (TSXV:BARU) (OTC:BARUF) is excited to announce it has acquired the majority of the Phase One land targeted to start the initial mining production process per the mining plan previously announced in the news release on April 21st, 2021 - Land Acquisition Process.
A majority of the Phase One land acquisition has been secured and the acquisition of the remaining hectares is expected to be completed over the next 30 days. The initial land to be acquired is more than sufficient for the first phase of the operational plan. The processing operations will start with two heap leach pads. The Company is pleased to achieve this major milestone while navigating the delays and shutdowns associated with the latest impact of COVID-19.
Baru is equally proud of the relationships it has built with the local residents, who are fully supportive of the Company’s initiatives, including the jobs and business opportunities being created on the island. They welcome a fully engineered mining operation that has the full support of the federal government.
The Sangihe Gold project is fully compliant with Indonesia’s stringent environmental regulations (“AMDAL”) and has been issued a federally approved Contract of Work which is valid until 2051, and holds a granted mining permit.
Construction of the mine operation is soon to commence while the Company awaits the arrival of key staff and equipment onto Sangihe Island.
Note: 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 SANGIHE GOLD PROJECT
The Sangihe gold project is located on the island of Sangihe off the northern coast of Sulawesi and 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" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals Corporation) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. The Company has received the approval for the upgrade of its licence to advance the project to construction and production in late 2021/early 2022.
Baru intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals.
Qualified Person
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.
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) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Acquires Majority of Phase One Targeted Land Acquisition
by @thenewswire on 7 Sep 2021, 06:30
(TheNewswire)
September 7, 2021 - TheNewswire - Vancouver, BC - Baru Gold Corp (“Baru”) or the (“Company”) (TSXV:BARU) (OTC:BARUF) is excited to announce it has acquired the majority of the Phase One land targeted to start the initial mining production process per the mining plan previously announced in the news release on April 21st, 2021 - Land Acquisition Process.
A majority of the Phase One land acquisition has been secured and the acquisition of the remaining hectares is expected to be completed over the next 30 days. The initial land to be acquired is more than sufficient for the first phase of the operational plan. The processing operations will start with two heap leach pads. The Company is pleased to achieve this major milestone while navigating the delays and shutdowns associated with the latest impact of COVID-19.
Baru is equally proud of the relationships it has built with the local residents, who are fully supportive of the Company’s initiatives, including the jobs and business opportunities being created on the island. They welcome a fully engineered mining operation that has the full support of the federal government.
The Sangihe Gold project is fully compliant with Indonesia’s stringent environmental regulations (“AMDAL”) and has been issued a federally approved Contract of Work which is valid until 2051, and holds a granted mining permit.
Construction of the mine operation is soon to commence while the Company awaits the arrival of key staff and equipment onto Sangihe Island.
Note: 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 SANGIHE GOLD PROJECT
The Sangihe gold project is located on the island of Sangihe off the northern coast of Sulawesi and 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" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals Corporation) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. The Company has received the approval for the upgrade of its licence to advance the project to construction and production in late 2021/early 2022.
Baru intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals.
Qualified Person
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.
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) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Acquires Majority of Phase One Targeted Land Acquisition
by @thenewswire on 7 Sep 2021, 06:30
(TheNewswire)
September 7, 2021 - TheNewswire - Vancouver, BC - Baru Gold Corp (“Baru”) or the (“Company”) (TSXV:BARU) (OTC:BARUF) is excited to announce it has acquired the majority of the Phase One land targeted to start the initial mining production process per the mining plan previously announced in the news release on April 21st, 2021 - Land Acquisition Process.
A majority of the Phase One land acquisition has been secured and the acquisition of the remaining hectares is expected to be completed over the next 30 days. The initial land to be acquired is more than sufficient for the first phase of the operational plan. The processing operations will start with two heap leach pads. The Company is pleased to achieve this major milestone while navigating the delays and shutdowns associated with the latest impact of COVID-19.
Baru is equally proud of the relationships it has built with the local residents, who are fully supportive of the Company’s initiatives, including the jobs and business opportunities being created on the island. They welcome a fully engineered mining operation that has the full support of the federal government.
The Sangihe Gold project is fully compliant with Indonesia’s stringent environmental regulations (“AMDAL”) and has been issued a federally approved Contract of Work which is valid until 2051, and holds a granted mining permit.
Construction of the mine operation is soon to commence while the Company awaits the arrival of key staff and equipment onto Sangihe Island.
Note: 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 SANGIHE GOLD PROJECT
The Sangihe gold project is located on the island of Sangihe off the northern coast of Sulawesi and 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" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals Corporation) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. The Company has received the approval for the upgrade of its licence to advance the project to construction and production in late 2021/early 2022.
Baru intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals.
Qualified Person
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.
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) 2021 TheNewswire - All rights reserved.
SKYG.v $SRKZF Sky Gold Corp Conducts VTEM at The Imperial Project Contiguous to Amex Exploration's Perron Project, Quebec
by @accesswire on 7 Sep 2021, 05:02
VANCOUVER, BC / ACCESSWIRE / September 7, 2021 / Sky Gold Corp. (TSX-V:SKYG) (OTC PINK:SRKZF) ("Sky Gold" or the "Company") announces a VTEM survey is now underway on the newly acquired Imperial Property ("Imperial" or the "Property") which shares 4.7 kilometers of it's northern border with Amex Exploration's (TSX-V: AMX) Perron Property in Quebec. The VTEM survey is being conducted by Geotech Ltd. and being flown as part of an overall larger survey in conjunction with a number of other exploration companies in the area.
A total of 328 lines covering 1,087 kilometers are being flown over both the La Reine and Le Roi property that comprise the Imperial Project. Imperial is comprised of a combined 228 claims covering approximately 6,575.84 hectares in the gold and VMS-prospective Abitibi Greenstone Belt region of Ontario and Quebec. Refer to maps in Figures 1 & 2.
Mike England, CEO & President, commented: "We are excited to have begun our maiden work program at The Imperial project in Quebec. This camp is heating up and we are in a prime location to potentially host exciting new discoveries of our own."
The Imperial Property
The Imperial Property is located to the Southwest of, and contiguous with Amex Exploration Inc.'s (TSX-V: AMX) Perron project, which has made several significant high-grade gold discoveries. Recently announced notable gold intersections at Perron include 70.92 g/t Au over 3.90 metres, including 367.50 g/t Au over 0.60 metres, at 160 metres vertical depth, and 70.92 g/t Au over 3.90 metres, including 367.50 g/t Au over 0.60 metres, at 190 metres vertical depth (refer to AMX news release May 26, 2021). Further to the Northeast is the past-producing Normétal mine, currently held by Starr Peak Exploration (TSX-V: STE), which was mined periodically from the 1930's through to 1975 from surface to a depth of 2.4 km (SIGEOM-Mine Normétal).
The Property is underlain by a mafic-intermediate metavolcanics belt of the Stoughton-Roquemaure Group and the Hunter Mine Group, bordered to the North by a greywacke Unit of the Chicobi Group and to the South by the Abitibi Lake syn-tectonic pluton. The Property is crossed east-west by the Abitibi Thrust Fault, which dips 70 degrees to the South. The overall lithological package strikes east-west and deeps steeply to the South and is contiguous to the Amex Exploration property to the North East.
Historical exploration efforts across the Property have resulted in the discovery of 10 mineral showings (Mineral Deposit Inventory Record - Ontario Government) across the project. Historical exploration works include diamond drilling, overburden drilling, airborne magnetics, ground geophysics including magnetics and electromagnetics, surface geochemistry, geological mapping, and prospecting. Companies that conducted the work include but are not limited to Kennco, Canadian Superior Ltd., Asarco, Cominco, Eastern Mines Inc., Seal River Exploration, and East West Resources Corp. Mineralization at showings range from anomalous copper and zinc associated with disseminated to massive sulfide layers (pyrrhotite/pyrite), gold in till from overburden drill sampling with a high amount of delicate gold grains (indicating a proximal source), as well as trace to anomalous gold and copper in diamond drilling.
Figure 1: Sky Gold Corp.'s Imperial Property with respect to neighbouring projects including Amex Exploration, Starr Peak Mining, and Generic Gold Corp.
* Mineralization hosted on adjacent and nearby properties is not necessarily indicative of mineralization hosted on the Company's properties.
Figure 2: Sky Gold Corp.'s Imperial Property underlain by geology as mapped by the Ontario Geological Survey and Ministère de l'Énergie et des Ressources naturelles of Quebec
Qualified Person - Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, and Independent Director of Sky Gold, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Imperial Project.
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. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and Carbonate Replacement Deposit (CRD) base and precious (silver and gold) mineralization.
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/662946/Sky-Gold-Corp-Conducts-VTEM-at-The-Imperial-Project-Contiguous-to-Amex-Explorations-Perron-Project-Quebec
GMG.v $GMGMF Graphene Manufacturing Group Announces Closing of $11.5M Overnight Marketed Offering and Non-Brokered Private Placement
by @thenewswire on 2 Sep 2021, 11:20
(TheNewswire)
BRISBANE, QUEENSLAND, AUSTRALIA - TheNewswire – September 2, 2021 - Graphene Manufacturing Group Ltd. (“GMG” or the “Company”) (TSXV:GMG) is pleased to announce that the Company has closed its previously announced overnight marketed public offering of units (the “Units”) of the Company, including exercise in full of the over-allotment option (the “Offering”). A total of 5,635,000 Units were sold at a price of C$2.05 per Unit (the “Offering Price”) for gross proceeds of approximately C$11.55 million. Each Unit is comprised of one ordinary share in the capital of the Company (each, an “Ordinary Share”) and one-half of one Ordinary Share purchase warrant (each, a “Warrant”). Each Warrant shall entitle the holder to purchase one Ordinary Share at C$2.60 at any time until September 2, 2024. The Offering was completed pursuant to an underwriting agreement dated August 13, 2021 among the Company and Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, and a syndicate of underwriters including PI Financial Corp., Echelon Wealth Partners Inc. and Haywood Securities Inc. (collectively, the “Underwriters”).
In connection with the Offering, the Company has paid to the Underwriters a cash commission of $693,105 and issued to the Underwriters 169,050 (“Compensation Warrants”). Each Compensation Warrant is exercisable into a Unit at the Offering Price until September 2, 2024.
The Company anticipates using the proceeds of the Offering to, among other things, develop a commercial coin cell graphene aluminum-ion battery prototype, perform front end design and commence building of a battery manufacturing facility (subject to a successful prototype and a final investment decision) and for working capital and general corporate purposes.
The Offering was completed pursuant to a short form prospectus in Canada (the “Prospectus”) in the provinces of British Columbia, Alberta, Saskatchewan and Ontario. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
The Company is also pleased to announce that the TSX Venture Exchange has conditionally accepted for listing the 2,817,500 Warrants underlying the Units issued pursuant to the Offering. The Warrants are expected to be listed for trading on the TSX Venture Exchange under the symbol "GMG.WT" effective on, or about September 7, 2021.
The Warrants are governed by the terms of a Warrant Indenture (the “Warrant Indenture”) dated September 2, 2021 between the Company and Computershare Trust Company of Canada as warrant agent, a copy of which will be available under the Company’s profile at www.sedar.com. For further details regarding the Warrants, please refer to the Warrant Indenture.
Private Placement
The Company is also pleased to announce that it has closed its non-brokered private placement for gross proceeds of $909,500 through the sale of 425,000 units ("PP Units") at a price of $2.14 per PP Unit (the "Private Placement"). Further to the Company’s news release dated August 26, 2021, the Company received approval from the TSX Venture Exchange to increase the size of the Private Placement by $9,500 for total gross proceeds of up to $909,500. Each PP Unit is comprised of one Ordinary Share and one-half of one Warrant. Each Warrant shall entitle the holder to purchase one Ordinary Share at $2.60 at any time on or before the date which is 36 months from the date of issuance.
The Company anticipates using the proceeds of the Private Placement in the same manner as the proceeds of the Offering which includes, among other things, to develop a commercial coin cell graphene aluminum-ion battery prototype, front end design and commence building of a battery manufacturing facility (subject to a successful prototype and a final investment decision) and for working capital and general corporate purposes. In connection with the Private Placement, the Company will pay to certain arm’s length finders a cash commission of up to 6% of the gross proceeds from the Private Placement and issue to such finders a number of Compensation Warrants equal to up to 3% of the PP Units sold under the Private Placement.
The Private Placement is subject to acceptance by the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four month hold period from the date of issue.
About GMG
GMG is a clean-tech, disruptive company that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By use of the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG graphene including the development of next generation batteries, collaborating with world leading universities in Australia, and investigating the opportunity to enhance the performance of lubricating oils, biodiesel and diesel fuels.
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) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the Offering, the use of proceeds from the Offering, the Private Placement and the use of proceeds from the Private Placement constitute “forward-looking information” within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will be able to use the proceeds of the Offering and the Private Placement as anticipated. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, inability to use the proceeds from the Offering or the Private Placement as anticipated. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Copyright (c) 2021 TheNewswire - All rights reserved.
GMG.v $GMGMF Graphene Manufacturing Group Announces Closing of $11.5M Overnight Marketed Offering and Non-Brokered Private Placement
by @thenewswire on 2 Sep 2021, 11:20
(TheNewswire)
BRISBANE, QUEENSLAND, AUSTRALIA - TheNewswire – September 2, 2021 - Graphene Manufacturing Group Ltd. (“GMG” or the “Company”) (TSXV:GMG) is pleased to announce that the Company has closed its previously announced overnight marketed public offering of units (the “Units”) of the Company, including exercise in full of the over-allotment option (the “Offering”). A total of 5,635,000 Units were sold at a price of C$2.05 per Unit (the “Offering Price”) for gross proceeds of approximately C$11.55 million. Each Unit is comprised of one ordinary share in the capital of the Company (each, an “Ordinary Share”) and one-half of one Ordinary Share purchase warrant (each, a “Warrant”). Each Warrant shall entitle the holder to purchase one Ordinary Share at C$2.60 at any time until September 2, 2024. The Offering was completed pursuant to an underwriting agreement dated August 13, 2021 among the Company and Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, and a syndicate of underwriters including PI Financial Corp., Echelon Wealth Partners Inc. and Haywood Securities Inc. (collectively, the “Underwriters”).
In connection with the Offering, the Company has paid to the Underwriters a cash commission of $693,105 and issued to the Underwriters 169,050 (“Compensation Warrants”). Each Compensation Warrant is exercisable into a Unit at the Offering Price until September 2, 2024.
The Company anticipates using the proceeds of the Offering to, among other things, develop a commercial coin cell graphene aluminum-ion battery prototype, perform front end design and commence building of a battery manufacturing facility (subject to a successful prototype and a final investment decision) and for working capital and general corporate purposes.
The Offering was completed pursuant to a short form prospectus in Canada (the “Prospectus”) in the provinces of British Columbia, Alberta, Saskatchewan and Ontario. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
The Company is also pleased to announce that the TSX Venture Exchange has conditionally accepted for listing the 2,817,500 Warrants underlying the Units issued pursuant to the Offering. The Warrants are expected to be listed for trading on the TSX Venture Exchange under the symbol "GMG.WT" effective on, or about September 7, 2021.
The Warrants are governed by the terms of a Warrant Indenture (the “Warrant Indenture”) dated September 2, 2021 between the Company and Computershare Trust Company of Canada as warrant agent, a copy of which will be available under the Company’s profile at www.sedar.com. For further details regarding the Warrants, please refer to the Warrant Indenture.
Private Placement
The Company is also pleased to announce that it has closed its non-brokered private placement for gross proceeds of $909,500 through the sale of 425,000 units ("PP Units") at a price of $2.14 per PP Unit (the "Private Placement"). Further to the Company’s news release dated August 26, 2021, the Company received approval from the TSX Venture Exchange to increase the size of the Private Placement by $9,500 for total gross proceeds of up to $909,500. Each PP Unit is comprised of one Ordinary Share and one-half of one Warrant. Each Warrant shall entitle the holder to purchase one Ordinary Share at $2.60 at any time on or before the date which is 36 months from the date of issuance.
The Company anticipates using the proceeds of the Private Placement in the same manner as the proceeds of the Offering which includes, among other things, to develop a commercial coin cell graphene aluminum-ion battery prototype, front end design and commence building of a battery manufacturing facility (subject to a successful prototype and a final investment decision) and for working capital and general corporate purposes. In connection with the Private Placement, the Company will pay to certain arm’s length finders a cash commission of up to 6% of the gross proceeds from the Private Placement and issue to such finders a number of Compensation Warrants equal to up to 3% of the PP Units sold under the Private Placement.
The Private Placement is subject to acceptance by the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four month hold period from the date of issue.
About GMG
GMG is a clean-tech, disruptive company that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By use of the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG graphene including the development of next generation batteries, collaborating with world leading universities in Australia, and investigating the opportunity to enhance the performance of lubricating oils, biodiesel and diesel fuels.
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) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the Offering, the use of proceeds from the Offering, the Private Placement and the use of proceeds from the Private Placement constitute “forward-looking information” within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will be able to use the proceeds of the Offering and the Private Placement as anticipated. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, inability to use the proceeds from the Offering or the Private Placement as anticipated. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Copyright (c) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Provides Update on Claim Against Indonesian Government
by @thenewswire on 27 Aug 2021, 05:06
(TheNewswire)
August 27, 2021 – TheNewswire - Vancouver, B.C. - Baru Gold Corp (“Baru” or the “Company”), (TSXV:BARU) | (OTC:BARUF), wishes to provide an update regarding a recent lawsuit filed in Jakarta against the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”). On August 19, 2021, an initial hearing was held pursuant to the proceedings.
Baru Gold was not named in the lawsuit, but the Company is proactively and vigorously supporting the MEMR. As the lawsuit relates to the mining permit granted to the 70% owned subsidiary, PT Tambang Mas Sangihe (“TMS”), the Jakarta Administrative Court approved the Company’s request for permission to be present during court proceedings.
Approval of the mining permit requires two components, an environmental study (AMDAL) and an Indonesian feasibility study (“IFS”). The Company carefully adhered to all laws, regulations, and requirements in the attainment of its mining license.
The AMDAL study, commenced in 2018, was conducted and completed by PT Sulindo Eko Konsultan, an Indonesian consulting firm. The initial draft was submitted in January of 2019. After meetings and consultations with local island residents and various government departments, and after final revisions, the report was approved in August 2020.
The IFS, which was prepared by Indonesian consulting firm Resindo Resources and Energy, is a multi-volume document equivalent to a JORC compliant pre-feasibility study. The IFS was approved by the MEMR in September 2019.
Note: The IFS is not a feasibility study as defined by CIM as required by NI 43-101. 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.
Mr. Terry Filbert, CEO of Baru, commented, “Since 2017, I have been focused on bringing the Sangihe gold project into production and generating cashflow. Baru Gold has been thorough and has completed all steps required to obtain the mining permit, which was granted by the MEMR in February 2021. The Company is confident the lawsuit is baseless, as the claims are frivolous and unfounded, which will eventually be brought forward in court.”
The next date court date has been set for September 2, 2021, at which time, TMS will support the MEMR in their response to the claim. Readers are advised that any information regarding the lawsuit, the support of the residents for the project and the Company’s operations on the island, as published and circulated by the so called Sangihe Save Island group (“SSI”) are false, misleading and inaccurate. For clarification, please contact the Company.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold project is located on the island of Sangihe off the northern coast of Sulawesi and 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" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals Corporation) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance the project to construction and production in 2021.
Currently, Baru is awaiting final land acquisition to conclude so construction of the heap leach can proceed with production expected to commence in 2021. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals.
Qualified Person
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.
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) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Provides Update on Claim Against Indonesian Government
by @thenewswire on 27 Aug 2021, 05:06
(TheNewswire)
August 27, 2021 – TheNewswire - Vancouver, B.C. - Baru Gold Corp (“Baru” or the “Company”), (TSXV:BARU) | (OTC:BARUF), wishes to provide an update regarding a recent lawsuit filed in Jakarta against the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”). On August 19, 2021, an initial hearing was held pursuant to the proceedings.
Baru Gold was not named in the lawsuit, but the Company is proactively and vigorously supporting the MEMR. As the lawsuit relates to the mining permit granted to the 70% owned subsidiary, PT Tambang Mas Sangihe (“TMS”), the Jakarta Administrative Court approved the Company’s request for permission to be present during court proceedings.
Approval of the mining permit requires two components, an environmental study (AMDAL) and an Indonesian feasibility study (“IFS”). The Company carefully adhered to all laws, regulations, and requirements in the attainment of its mining license.
The AMDAL study, commenced in 2018, was conducted and completed by PT Sulindo Eko Konsultan, an Indonesian consulting firm. The initial draft was submitted in January of 2019. After meetings and consultations with local island residents and various government departments, and after final revisions, the report was approved in August 2020.
The IFS, which was prepared by Indonesian consulting firm Resindo Resources and Energy, is a multi-volume document equivalent to a JORC compliant pre-feasibility study. The IFS was approved by the MEMR in September 2019.
Note: The IFS is not a feasibility study as defined by CIM as required by NI 43-101. 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.
Mr. Terry Filbert, CEO of Baru, commented, “Since 2017, I have been focused on bringing the Sangihe gold project into production and generating cashflow. Baru Gold has been thorough and has completed all steps required to obtain the mining permit, which was granted by the MEMR in February 2021. The Company is confident the lawsuit is baseless, as the claims are frivolous and unfounded, which will eventually be brought forward in court.”
The next date court date has been set for September 2, 2021, at which time, TMS will support the MEMR in their response to the claim. Readers are advised that any information regarding the lawsuit, the support of the residents for the project and the Company’s operations on the island, as published and circulated by the so called Sangihe Save Island group (“SSI”) are false, misleading and inaccurate. For clarification, please contact the Company.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold project is located on the island of Sangihe off the northern coast of Sulawesi and 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" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals Corporation) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance the project to construction and production in 2021.
Currently, Baru is awaiting final land acquisition to conclude so construction of the heap leach can proceed with production expected to commence in 2021. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals.
Qualified Person
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.
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) 2021 TheNewswire - All rights reserved.
GMG.v $GMGMF Midas Letter Interview
Fast-Charging Aluminum-Ion Battery Blue Sky Opportunity | Graphene Manufacturing Group (GMG)
GMG.v $GMGMF Midas Letter Interview
Fast-Charging Aluminum-Ion Battery Blue Sky Opportunity | Graphene Manufacturing Group (GMG)
SKYG.v $SRKZF Great chat between Allan Barry Laboucan and Kelly Malcolm from Amex Exploration while we await our first exploration update on our Perron area projects. http://rocksandstocksnews.com/news/kelly-malcolm-of-amex-exploration-interview/
SKYG.v $SRKZF Newfoundland neighbour...out with another beauty raise...
New Found Announces $50 Million Bought Deal Financing
by @newswire on 17 Aug 2021, 13:21
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Aug. 17, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and BMO Capital Markets on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis, 4,390,000 flow-through common shares of the Company (the "Flow-Through Shares") that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) at a price of $11.39 per Flow-Through Share (the "Offering Price") for gross proceeds of $50,002,100 (the "Offering").
The Company has granted the Underwriters an option, exercisable at the Offering Price for a period of 30 days following the Closing Date (as defined herein), to purchase up to an additional 15% of the number of Flow-Through Shares sold under the Offering to cover over-allotments, if any and for market stabilization purposes. The Offering is expected to close on or about August 24, 2021 (the "Closing Date") and is subject to the Company receiving all necessary regulatory approvals.
The gross proceeds of the Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's Queensway Project located in Newfoundland, Canada and on the Company's Lucky Strike Project located in Ontario, Canada on or before December 31, 2022. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2021.
The Flow-Through Shares will be offered by way of a prospectus supplement in each of the Provinces of Canada (other than the Province of Quebec) and may also be offered by way of private placement in the United States and such other jurisdictions as agreed between the parties.
The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 200,000m drill program at Queensway. Nine rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by Q3 2021. With a current working capital balance of approximately $68 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
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 Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation relating to further exploration and drilling on the Company's Queensway gold project in Newfoundland; interpretation of results of the drilling program and funding of the drilling program and the timing related thereto. 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," "target," "suggestive," "probability," "appear," "pursuit," "potential," "goal," "objective," "prospective," 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, 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.
SOURCE New Found Gold Corp.
Cision View original content: http://www.newswire.ca/en/releases/archive/August2021/17/c6252.html
SKYG.v $SRKZF (Virginia claimblock) neighbour...out with another big intercept.
Labrador Gold Intersects 44.08 g/t Gold Over 4.28 Metres at Big Vein, Kingsway Project
by @nasdaq on 18 Aug 2021, 05:00
TORONTO, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further high-grade intercepts of near surface gold mineralization from its 100% controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s 50,000 metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.
Four holes K-21-26, -33, -36 and -39 all contained intervals grading more than 15g/t Au. Hole K-21-39 intersected 44.08 g/t Au over 4.28m from 49 metres which represents a “metal factor” (grade x width) of 188.7 g/t Au x m*, the highest value yet on the Kingsway Property. This intersection included 1.02m grading 81.64 g/t Au and 1.03m grading 96.47 g/t Au and contained 91 grains of visible gold. Hole K-21-36 intersected 15.02 g/t Au over 0.74m from 8.84m. Hole K-21-33 intersected 40.85 g/t Au over 0.4m from 56.15 metres and hole K-21-26 intersected 15.55 g/t Au over 0.5m from 235 metres. A summary of the high-grade intersections, as well as other holes with assays received to date, are given in Table 1 below. *The width used to calculate metal factor is downhole width as there is insufficient information to calculate true width.
Table 1. Assay highlights
Hole From (m) To (m) Length
(m) Au (g/t) Zone
K-21-39 49.00 53.28 4.28 44.08 HTC
including 50.36 51.38 1.02 81.64
including 52.25 53.28 1.03 96.47
K-21-36 7.79 12.00 4.21 3.64 Big Vein
including 8.84 9.58 0.74 15.02
K-21-33 7.00 8.00 1.00 1.00 Big Vein
and 50.50 51.00 0.50 1.04 HTC
and 53.50 54.00 0.50 1.55
and 56.15 56.55 0.40 40.85
K-21-32 9.05 10.12 1.07 1.03 Big Vein
and 62.00 67.50 5.50 2.21 HTC
K-21-28 57.50 58.50 1.00 1.12 Big Vein
and 175.00 176.00 1.00 3.17 HTC
K-21-27 26.00 33.00 7.00 1.27 Big Vein
and 46.00 51.00 5.00 1.31
and 70.00 71.00 1.00 1.14
and 105.00 106.00 1.00 1.28
and 115.00 117.00 2.00 7.43
and 121.00 122.00 1.00 2.65
and 128.00 129.00 1.00 5.07
K-21-26 71.00 72.00 1.00 1.12 Big Vein
and 235.00 235.50 0.50 15.55 HTC
K-21-25 13.30 14.40 1.10 1.01 Big Vein
and 18.00 20.00 2.00 1.65
and 43.00 44.00 1.00 1.19
K-21-22 12.00 13.00 1.00 1.70 Big Vein
K-21-21 33.00 36.00 3.00 2.46 Big Vein
and 43.00 44.00 1.00 1.73
**Interval contains visible gold. All intersections are downhole length as
there is insufficient Information to calculate true width.
“The intersection of the near surface high grade gold mineralization in Hole K-21-39 has the highest-grade x width value of 188.66g/t Au x m obtained so far from our drilling at Kingsway. This is significantly better than the previous high of 138.28 g/t Au x m returned from Hole-21-31 and continues to demonstrate the potential for high-grade intercepts at the Big Vein target,” said Roger Moss, President and CEO of the Company. “Three drills continue to explore Big Vein with step out drilling along strike to the southwest and drilling of the high-grade HTC Zone at depth.”
Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a0e36f71-b136-4fe3-bfa6-0afa6bfc41c9
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ad000b6-616d-4947-9fa0-8afb6876c7a0
https://www.globenewswire.com/NewsRoom/AttachmentNg/18dc2fe4-4bd2-4214-8270-ca69f8358004
Table 2. Drill hole Collar details
Hole ID Easting Northing Azimuth Dip Total depth
K-21-39 661596 5435218 90 48 122
K-21-36 661596 5435218 120 49 119
K-21-33 661596 5435218 105 52 157
K-21-32 661596 5435218 105 57 170
K-21-28 661562 5435244 130 60 284
K-21-26 661562 5435244 160 60 266
K-21-25 661442 5435097 130 45 248
K-21-24 661562 5435244 328 45 269
K-21-23 661562 5435244 148 60 233
K-21-22 661596 5435218 130 45 212
K-21-21 661603 5435249 120 45 212.5
Big Vein target
The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres at surface along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 kilometres as currently outlined, with potential for expansion along the 12km strike length of the Appleton Fault Zone in both directions. Gold mineralization observed at Big Vein includes visible gold in quartz veins, assays of samples from which range from 1.87 g/t to 1,065 g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits.
The ongoing 50,000 metre drill program has tested Big Vein over approximately 200 metres of strike length of the 400m surface exposure and to vertical depths of 175 metres. Drilling has produced visible gold in 11 drill holes giving high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.
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 ICP (inductively coupled plasma) finish with samples containing visible gold assayed by metallic screen/fire assay. 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 March 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 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. 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 recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $35 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in 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 7.8 g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.
The Company has 151,472,206 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.
Big Vein Plan Map.
Figure 2.
Long section of the HTC Zone.
Figure 3.
High grade gold mineralization in Hole K-21-39.Note photo is not intended to be representative of gold mineralization in Hole K-21-39.
SKYG.v $SRKZF Perron project neighbour in Que. out with some juicy stuff...
by @newswire on 12 Aug 2021, 05:30
Starr Peak Reports up to 1.19% Cu, 10.39% Zinc-Equivalent, 30.98 g/t Ag, 0.32 g/t Au Over 13.30 Metres, Including 3.16% Cu Over 4.45 Metres, on the Deep Extension of the Normetmar Zone
VANCOUVER, BC, Aug. 12, 2021 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTC: STRPF) is very pleased to announce a number of drill results from its ongoing 2021 drilling campaign on its NewMétal property ("NewMétal" or "the Property"), located in the Abitibi Greenstone Belt of Quebec near the town of Normétal. The NewMétal project also includes the past-producing Normétal Mine, from which ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag were produced (Boivin, 1988). Today's results highlight copper rich zonation in the Deep Zone and the Upper Zone of the Normetmar Showing.
Highlights
Upper Zone (above 400m vertically)
STE-21-36: 19.05 m of 6.07 % ZnEq which includes 1.04% Cu
STE-21-25: 7.65 m of 8.90 % ZnEq which includes 0.44% Cu
STE-21-32: 11.75 m of 5.62 % ZnEq including 4.20 m of 13.15 % ZnEq
Deep Zone (below 400m vertically)
STE-21-43: 13.30 m of 10.39 % ZnEq, including 4.45 m of 3.16 % Cu
STE-21-14-W1: 11.80 m of 8.28 % ZnEq which includes 0.84 % Cu
Johnathan More, Chairman and CEO of Starr Peak commented, "As we continue to be blown away by the results and potential of the Normetmar mineralized system, we are seeing an increase of copper mineralization at depth. This often occurs in these polymetallic VMS deposits, with metal zonation from zinc-dominant to copper-dominant at depth. We are excited to be releasing some of our highest grade copper mineralization to date, and look forward to increasing our understanding of this highly continuous zone of rich mineralization with our recently announced 60,000 metre expanded drill program."
Systematic drilling of the upper zone has returned copper rich intervals and also defined local separation of the mineralized massive sulphide intervals into the holes by a length of approximately 30 meters in core length. To date, this separation is only located near shallower Normetmar historic mineralization and is not observable into the main Upper and Deep zones. See below Table 1, Table 2 and Figure 1 showing the most recent assay results and estimations of drill hole mineralized intervals.
Table 1 – Deep zone
Intervals are reported as core widths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below (CNW Group/Starr Peak Mining Ltd.)
Table 2 – Upper zone
Intervals are reported as core widths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below (CNW Group/Starr Peak Mining Ltd.)
Drilling continues on the project targeting the deep new discovery zone below 600m vertical depth and systematic drilling of the Normetmar Upper zone above 400m vertical depth. An exploration plan of the prolific Normetmar-Normétal lithological contact within the property is currently underway, taking into account 2021 new massive sulphide interceptions.
Figure 1: Longitudinal Section of the Normétal Past-Producing Mine and Normetmar Satellite Deposit. 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.)
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.
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 have 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.
The Company wishes to caution that historical resources described above are historical. The historic resources are relevant to give a ballpark estimate of the potential on the property. Historical resources should not be relied upon. The key assumptions, parameters and methods used to prepare the historical estimate is not known and thus the difference between the historic estimates and NI 43-101 compliant estimates is also not known. The historical estimates used categories other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not reviewed the historical estimates and has not done sufficient work to classify the historical estimates as current mineral resources and Starr Peak is not treating the historical estimates as current mineral resources under National Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration work needs to be done to correctly evaluate these historical resources. Additionally, the methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
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 create long term shareholder value through mineral discoveries.
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/August2021/12/c7315.html
SKYG.v $SRKZF Perron neighbour gets a shoutout from CEO.ca's resident analyst @Goldfinger here... Amex Exploration's Perron Project in Quebec, Canada just keeps getting better. Monday morning, AMX $AMXEF announced a new copper-rich VMS discovery with a 7.8 meter intersection grading 2.40% copper, 0.72% zinc, 0.27 g/t gold and 22.15 g/t silver. @goldfinger/new-copper-rich-vms-discovery-means-this-high-grade-gold-project-just-keeps-getting-better
Should this discovery lead to the development of a deposit it will be 100% accretive to the high-grade gold zones that Amex is currently in the process of drilling off. Amex has devoted a drill rig to this new VMS discovery, calling it the "QF Zone". A maiden resource estimate for Perron is still planned for the first half of 2022.
New Copper Rich VMS Discovery Means This High-Grade Gold Project Just Keeps Getting Better https://ceo.ca/@goldfinger/new-copper-rich-vms-discovery-means-this-high-grade-gold-project-just-keeps-getting-better
Another SKYG.v $SRKZF Perron project neighbour our with encouraging news imho...
by @newswire on 9 Aug 2021, 05:30
Starr Peak Announces Additional Expansion of Drilling Program to 60,000 Metres on NewMétal Property
VANCOUVER, BC, Aug. 9, 2021 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTC: $STRPF) is pleased to announce another significant expansion to its ongoing drilling campaign on its NewMétal property ("NewMétal" or "the Property"), located in the Abitibi Greenstone Belt of Quebec near the town of Normétal. The NewMétal project also includes the past-producing Normétal Mine, from which ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag were produced (Boivin, 1988).
With the ongoing drilling campaign returning encouraging results and the availability of numerous untested targets ready to drill, Starr Peak announces an increase in its fully funded drilling program from 40,000 to 60,000 metres on the NewMétal project.
Johnathan More, Chairman and CEO of Starr Peak commented, "Additional targets have been defined and will be drilled in order of priority. The ongoing drilling campaign will increase the comprehension of the Normétal-Normetmar associated mineralization and vectors towards it. We are looking forward to seeing the upcoming results on the highly prospective Newmétal property."
Drilling continues on the project targeting the deep new discovery zone below 600m vertical depth and systematic drilling of the Normetmar Upper zone above 400m vertical depth. An exploration plan of the prolific Normetmar-Normétal lithological contact within the property is currently underway, taking into account 2021 new massive sulphide interceptions.
Figure 1: Longitudinal Section of the Normétal Past-Producing Mine and Normetmar Satellite Deposit. 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.
Figure 1: Longitudinal Section of the Normétal Past-Producing Mine and Normetmar Satellite Deposit. 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.)
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.
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 information on the Longitudinal have 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.
The Company wishes to caution that historical resources described above are historical. The historic resources are relevant to give a ballpark estimate of the potential on the property. Historical resources should not be relied upon. The key assumptions, parameters and methods used to prepare the historical estimate is not known and thus the difference between the historic estimates and NI 43-101 compliant estimates is also not known. The historical estimates used categories other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not reviewed the historical estimates and has not done sufficient work to classify the historical estimates as current mineral resources and Starr Peak is not treating the historical estimates as current mineral resources under National Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration work needs to be done to correctly evaluate these historical resources. Additionally, the methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
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 deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.
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. (CNW Group/Starr Peak Mining Ltd.)
SOURCE Starr Peak Mining Ltd.
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SKYG.v $SRKZF Perron Neighbour out with an interesting discovery ...Amex AMX.v $AMXEF Makes Copper Rich VMS Discovery at Perron, Intersects 2.40% Copper, 0.72% Zinc, 0.27 g/t Gold and 22.15 g/t Silver over 7.80 m
by @newsfile on 9 Aug 2021, 03:01
Montreal, Quebec--(Newsfile Corp. - August 9, 2021) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce the discovery of a high-grade copper rich Volcanic Massive Sulphide (VMS) zone on its 100% owned Perron property located in the Abitibi region of Northern Québec. At the beginning of 2021, while continuing its definition and expansion drilling on orogenic gold targets, mainly on the Eastern Gold Zone (EGZ), Amex launched a small drill program to test the base metal potential of the Perron Property given its proximity to the historic Normétal Mine that produced 10.1 Mt @ 2.15% Cu, 5.12% Zn, 0.55 g/t Au and 45.25 g/t Ag - See Figure 1. The mineralization of the Amex discovery hole is similar to that of Normetal Mine. Drill Hole PEX-21-076, intersected a disseminated, semi-massive- to massive- sulphide zone that returned:
2.40% Cu, 0.72% Zn, 0.27 g/t Au and 22.15 g/t Ag over 7.80 m, including 3.92% Cu, 1.20% Zn, 0.39 g/t Au and 35.99 g/t Ag over 4.40 m, of which 0.90 m returned 6.94% Cu, 4.65% Zn, 0.30 g/t Au and 73.00 g/t Ag (see Table 1).
Jacques Trottier, PhD, Executive Chairman of Amex Exploration, commented, "During my academic career I have evaluated VMS deposits around the world, including the Normétal mine next door, and I am very excited by what I am seeing here at Perron. VMS deposits are one of the richest sources of copper, lead and zinc globally and often produce economic amounts of gold and silver as by-products. In addition to the discovery hole, we have core from a follow-up drill hole PEX-21-083, located about 70 metres deeper, which is at the lab for assay and which shares the same visual characteristics and core length as discovery hole PEX-21-076."
Trottier Continued, "Should this discovery lead to the development of a deposit it has the potential to be a company maker on its own. We are obviously very excited by this opportunity for Amex. Our VMS discovery is 100% accretive to the high-grade gold zones which we are currently drilling off at Perron and provides our shareholders and investors with exposure to highly sought-after copper-rich base metal discoveries."
The Perron Property was explored for base metals since the 1960s by several mining companies. Drilling campaigns were mainly focused on the western caldera of the Normétal Volcanic Complex. More recently exploration focused on the Normétal Mine Sequence, which is present over more than 4.5 km within the Perron property (Figure 1).
During the re-evaluation of the VMS potential by Amex in early 2021, all historical data were compiled and re-evaluated to define the best drill targets available. The lithogeochemical data and the study of the historical logs have allowed a reclassification of the rocks and a redefinition of the stratigraphy of the Mine Sequence present on the Property. The use of major elements allowed the most altered sector of the property to be vectorized (Figure 2). A strongly sericitized alteration halo of more than 1 km of lateral extension overprints the rhyolite units while the dominantly intermediate volcaniclastics of the Mine Sequence shows a dominance of chlorite alteration. By putting this information in longitudinal section (Figure 3A), a mineralized lens was outlined on surface marked by 0.25-1.50 m thick semi-massive sulphide intersections dominated by pyrite and locally rich in Cu (e.g. historical DDH 163-15-015: 2.15% Cu over 1.50 m). Furthermore, this near-surface "semi-massive root" is highlighted by the alignment of several discrete EM anomalies (VTEM survey, Figure 2). Overall a large proportion of the historical holes showed hydrothermal alteration typical of VMS mineralization (sericite and chlorite +/- garnet) down to 750 m vertical. Zn values were intersected at depth (163-15-022 and 163-15-023 - Figure 3A) but associated with disseminations and stringers-like mineralization (absence of SMS-MS). A new interpretation, brought about in this 2021 campaign, was to define a target with a lateral extension of approximately 200 m and a 75° plunge to the east.
Discovery hole PEX-21-076, planned along this plunge, intersected a disseminated- to massive- sulphide zone that returned 2.40% Cu, 0. 72% Zn, 0.27 g/t Au and 22.15 g/t Ag over 7.80 m, including 3.92% Cu, 1.20% Zn, 0.39 g/t Au and 35.99 g/t Ag over 4.40 m, of which 0.90 m returned 6.94% Cu, 4.65% Zn, 0.30 g/t Au and 73.00 g/t Ag (see Table 1). The mineralized lens is dominated by a chalcopyrite-pyrrhotite-pyrite-(sphalerite) assemblage (Figure 4), with typical VMS metal zonation near the core with chalcopyrite-pyrrhotite-(magnetite) at the base and pyrite-sphalerite at the top. It is hosted at the interface between an intermediate ash to lapilli tuff strongly altered (pipe like) in magnesian chlorite over about ten meters (footwall) and a rhyodacitic tuff (hanging wall) of transitional to calc-alkaline affinity. The follow-up hole (PEX-21-083) also intersected this same disseminated- to massive- sulphide mineralization of similar thickness and visually as rich in copper, at approximately 70 metres deeper. This confirms the continuity of this mineralized system in terms of thickness and metal content and introduce the new discovery zone named the QF Zone. The Company is awaiting assay results on this follow-up hole and is preparing to expand upon the discovery with additional drilling. In addition, several drill holes have been pulsed (BHEM) to generate EM anomaly plates to guide our further definition of this mineralized lens which indicate possible extensions of the mineralization in all directions (see Figure 3B). Nevertheless, Amex's exploration strategy remains focused on its Eastern Gold Zone definition and expansion program with a goal of releasing a compliant resource estimate in early 2022.
Table 1: Assay results from the QF Zone at Perron
Hole ID From (m) To (m) Length (m) Cu (%) Zn (%) Au (g/t) Ag (g/t) Zone
PEX-21-071 234.95 235.80 0.85 0.44 0.17 0.03 2.90 VMS
PEX-21-074 286.20 288.00 1.80 0.89 0.08 0.16 4.89 VMS
Including 286.20 287.05 0.85 1.27 0.11 0.31 6.00
PEX-21-076 663.10 670.90 7.80 2.40 0.72 0.27 22.15 VMS
Including 666.50 670.90 4.40 3.92 1.22 0.39 35.99
Including 670.00 670.90 0.90 6.94 4.65 0.30 73.00
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Figure 1: Geological map of the Normétal Volcanic Complex, with the location of the Perron Property and the new VMS discovery (named the QF Zone).
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Figure 2: Geological compilation map of the target VMS area of the Perron property located within the Normétal Mine Sequence containing the QF Zone. Hydrothermal alteration indexes, generated during the reworking of historical data, are plotted along drill holes with whole rock analysis available. CCPI (Chlorite Carbonate Pyrite Index: Large et al. 2001) = 100*(MgO+FeO)/(MgO+FeO+Na2O+K2O); AI (Alteration Index: Ishikawa et al., 1976) = 100*(K2O+MgO)/(MgO+FeO+Na2O+K2O).
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Figure 3A and 3B: Long section of the QF Zone. A) All drill holes intersections with an emphasis on grades and mineralization typology. B) All drill holes intersections with an emphasis on borehole electromagnetic (BHEM) anomalies. Abbreviations: MS - Massive sulphides; SMS - Semi-massive sulphides; Po - Pyrrhotite; Py - Pyrite; VTEM - Versatile Time Domain Electromagnetic.
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Figure 4A: Photographs of the massive to disseminated sulphides Cu-rich lens intersected in drill hole PEX-21-076. Abbreviations : Cp - Chalcopyrite; Mt - Magnetite; MS - Massive sulphides; Sp - Sphalerite; Po - Pyrrhotite; Py - Pyrite.
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Figure 4B: Photographs of the massive to disseminated sulphides Cu-rich lens intersected in drill hole PEX-21-083.
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What is a VMS Deposit?
Volcanogenic Massive Sulphide ore deposits (or VMS deposits) are one of the richest sources of base metals such as copper, lead, and zinc. VMS deposits can also produce economic amounts of gold and silver as byproducts of mining them. There are just over 900 VMS deposits worldwide. Based on these current and historical known deposits the average deposit would have a tonnage of 17 million tonnes of ore at approximately 1.7% copper, 3.1% zinc and 0.7% lead.
VMS deposits often form in clusters, or camps, following the tectonic plate boundaries in areas of ancient underwater volcanic activity. Several large VMS camps are known in Canada. In the vicinity of Amex' Perron project, the past-producing Normetal Mine produced 10.1 Mt @ 2.15% Cu, 5.12% Zn, 0.55 g/t Au and 45.25 g/t Ag for over 50 years of mine life. The high-grade deposits within these camps are often in the range of five to 20 million tonnes of ore and can be much larger.
Qualified Person
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have 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 Maxime Bouchard and Jérôme Augustin. 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 10 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. 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.
About Amex
Amex Exploration Inc. is a junior mining exploration company of interest to gold investors and those looking to invest in gold exploration opportunities. Amex's primary objective is to acquire, explore, and develop viable gold projects in Quebec Canada, a mining-friendly jurisdiction. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries in Quebec have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals exploration in the Abitibi region of Quebec, Canada and elsewhere in the province.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209
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. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
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SKYG.v $SRKZF Sky Gold Corp. Tweet
@SkyGoldCorp
The 2,500 meter drill program is currently underway at Evening Star, focused on eight drill site areas including the Gold Bug, Golden Eagle-Golden Bomber and Good Hope 2 targets. Check out the image gallery here: https://buff.ly/3fAxFOn
$SKYG.v
The 2,500 meter drill program is currently underway at Evening Star, focused on eight drill site areas including the Gold Bug, Golden Eagle-Golden Bomber and Good Hope 2 targets. Check out the image gallery here: https://t.co/t1jS4FvbXE$SKYG.v pic.twitter.com/swXXPg5jDK
— Sky Gold Corp. (@SkyGoldCorp) August 5, 2021
SKYG.v Perron neighbour out with a nice raise adder ...
by @newswire on 22 Jul 2021, 10:00
Starr Peak Closes Additional Flow-Through Private Placement
VANCOUVER, BC, July 22, 2021 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTC: STRPF) is pleased to announce that it has closed a strategic institutional private placement of Flow-Through Units at $3.85 per Unit. The Company has issued 599,999 Units at $3.85 per Unit for gross proceeds of $2,309,996.15. Each Unit consists of one flow-through common share and one-half of one share purchase warrant, with each whole share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $5.00 per share for a period of 18 months from closing. The financing was completed at a substantial premium to its current share price.
(CNW Group/Starr Peak Mining Ltd.)
In connection with the closing, the Company paid a finder's fee of 6% cash to a certain finder. The flow-through shares and warrants issued are subject to a hold period expiring November 23, 2021.
The proceeds from the financing will be used for drilling and exploration work on the Company's Quebec properties. After today's closing, Starr Peak's current cash position is currently in excess of $7.5 million and currently has 39,245,144 shares issued and outstanding.
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 deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.
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.
SOURCE Starr Peak Mining Ltd.
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GLM.ca $GOLXF Golden Lake Intersects 18.68 Meters of 5.85 G/T Au and 8.09 Meters of 8.93 G/T Au on First Three Holes of Phase 2 Drilling at Jewel Ridge the Company Continues to Intersect Carbonate Replacement Deposit (CRD) and Carlin Style Mineralization on The Jewel Ridge Property, Nevada
by @accesswire on 22 Jul 2021, 05:15
VANCOUVER, BC / ACCESSWIRE / July 22, 2021 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") (OTCQB:GOLXF) today reported assay results from the first three diamond drill holes of the Phase 2 program on the Eureka Target on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nevada. Two types of mineralization have been identified on the Eureka Target, included a tabular, shallow dipping zone of "Carlin-style" mineralization intersected in several recent drill holes, and the recently discovered Carbonate Replacement Deposit mineralization (see Press Release dated February 24, 2021 ). To date 7 holes have been completed as drilling continues.
Highlights
Diamond drilling resumed on the Jewel Ridge property on May 6, 2021, on hole JR-21-14DD.
To date, complete assays have been received for holes JR-21-14 DD, JR-21-15DD and JR-21-16DD (see table below). All three holes were collared close to (with 10 meters) of hole JR-20-12DD to determine the dip of the CRD zone and to test the width and continuity of the Carlin-style mineralization. Hole JR-21-14DD was drilled to the southwest at -45 degrees and was lost at 37.2 meters. Hole JR-21-15 DD was drilled to the southwest at -70 degrees and ended at 175.3 meters. Hole 21-16DD was drilled at -70 degrees in a northeast direction to a depth of 201.8 meters.
In hole JR-21-16DD the mineralized zone extends from 6.86 meters to 25.54 meters, over a core width of 18.68 meters averaging 5.85 g/t Au, 18.3 g/t Ag, 0.38 % Pb and 1.28 % Zn . A CRD section from a depth of 18.78 meters within this interval returned 1.98 meters averaging 5.93 g/t Au, 111.2 g/t Ag, 2.83 % Pb and 3.50 % Zn. A unit of jasperoid mineralization within the Carlin-style portion of the interval from a depth of 10.68 meters, over a width of 8.09 meters averaged 8.93 g/t Au, 9.4 g/t Ag, 0.12 % Pb, and 1.72 % Zn.
Based on these initial results the CRD zone appears to be steeply dipping in a north-easterly direction, and the Carlin mineralization is a tabular zone, striking North-North-west with a shallow dip to the east.
As reported in our February 24, 2021 Press Release, the Carbonate Replacement Deposit ("CRD") bonanza mineralization returned 3.23 meters averaging 57.16 grams gold per tonne (g/t Au), 452.0 grams silver per tonne (g/t Ag), 7.23 percentage lead (% Pb) and 11.99 percentage zinc (% Zn). This high-grade interval in hole JR-20-12DD (vertical hole) was within a wider zone (combined with Carlin style mineralization) that averaged 9.16 g/t Au, 65.8 g/t Ag. 1.03 % Pb, and 1.90 % Zn over a drill interval of 24.54 meters.
Mike England, CEO, states, "These drill results are very encouraging for the continuation of the near-surface Carlin-style mineralization and represent early confirmation of the high-grade bonanza CRD mineralization. In addition to diamond drilling, a program of surface and underground geological mapping and sampling is also in progress. We believe the discovery of the high-grade "bonanza" CRD zone represents a significant "game-changer" for the property and the Company".
DRILL HOLE JR-21-DD14, JR-21-15DD, and JR-21-16DD SUMMARY
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 Paragon Geochemical in Sparks, 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.
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.
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SKYG.v $SRKZF (Virginia claimblock) neighbour...intercepts a sweet intersection
Labrador Gold Intersects 276.56 g/t Gold Over 0.5 Metres at Big Vein, Kingsway Project
by @nasdaq on 21 Jul 2021, 05:00
TORONTO, July 21, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further high-grade intercepts of near surface gold mineralization from its 100% controlled Kingsway project near Gander, Newfoundland. The Kingsway project is located in the highly prospective central Newfoundland gold belt.
The high-grade intersections are from holes K-21-29 and -31 that contain fine particles of visible gold in quartz vein that is typically vuggy, locally contains stylolites, and is similar to quartz veins containing high grade gold intersections reported previously (see news release dated June 3, 2021). Hole K-21-31 intersected 276.56 g/t Au over 0.5 metres which represents a “metal factor” (grade x width) of 138.28 g/t Au x m*, the highest value yet on the Kingsway Property. A second intersection in hole K-21-31 intersected 13.14g/t Au over 0.65m from 54.5m. Hole K-21-29 intersected two mineralized zones a near surface zone grading 16.44g/t over 0.5m and a deeper zone starting at 49.35m downhole grading 37.72g/t over 0.21m. A summary of the high-grade intersections, as well as other holes with assays received to date, are given in Table 1 below.
*width used to calculate metal factor is downhole width as there is insufficient information to calculate true width.
Table 1. Assay highlights
Hole From (m) To (m) Length (m) Au (g/t)
K-21-31** 10.5 11 0.5 276.56
And** 54.5 55.15 0.65 13.14
K-21-29** 8 8.5 0.5 16.44
And** 49.35 49.56 0.21 37.72
K-21-20 20 21 1 1.03
K-21-19 8 19 11 1.03
and 46.5 49 2.5 1.09
and 124 130 6 1.87
including 125.5 128.5 3 3.83
K-21-18 11 12 1 1.14
and 138.23 142 3.77 2.03
K-21-17 55 55.6 0.6 1.51
K-21-16 10.5 16.5 6 0.98
and 106.5 107.5 1 1.2
K-21-15 6.5 16 9.5 0.95
and 24 28 4 0.69
and 36 40 4 1.93
and 51.5 55.6 4.1 0.75
and 102 103 1 1.08
K-21-13 25 59.5 34.5 0.97
inc. 43 55 12 1.46
incl. 48.5 51 2.5 2.05
**Interval contains visible gold. All intersections are downhole length as
there is insufficient Information to calculate true width.
“The Big Vein target continues to deliver near surface high grade gold mineralization shown by the grade x width value of 138.28 g/t Au x m in Hole-21-31, the highest value obtained so far from the Kingsway drilling,” said Roger Moss, President and CEO of the Company. “In addition to the drilling at Big Vein, our field crews continue to develop targets along the entire 12km strike length of Appleton Fault Zone covered by the property, including within the quartz vein corridor.”
Figure 1. Big Vein Plan Map.
https://www.globenewswire.com/NewsRoom/AttachmentNg/42ce11ce-b9a1-44b3-bfa0-e704c90e0168
Figure 2. High-grade gold intercept in Hole K-21-31.
Note photo is not intended to be representative of gold mineralization in Hole K-21-31.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7adc67f0-8e1c-4057-90d4-be53a29a96fc
Figure 3. Core photo of Hole K-21-31 from 0.0 to 12.86m showing high grade intersection.
Note that this photo is not intended to be representative of mineralization in hole K-21-31.
https://www.globenewswire.com/NewsRoom/AttachmentNg/8790761f-97a6-4c33-bb55-9798161c94db
Table 2. Drill hole Collar details
Hole ID Easting Northing Azimuth Inclination Total Depth
K-21-31 661596 5435218 105 57 140
K-21-29 661596 5435218 105 45 110
K-21-20 661596 5435218 140 52 179
K-21-19 661603 5435249 148 58 200.7
K-21-18 661596 5435218 156 45 201
K-21-17 661603.3 5435249 148 45 251
K-21-16 661596 5435218 148 58 191
K-21-15 661551 5435180 148 54 191
K-21-13 661551 5435180 148 45 189
Big Vein target
The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres at surface along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 kilometres as currently outlined with potential for expansion along the 12km strike length of the Appleton Fault Zone in both directions. Gold mineralization observed at Big Vein includes six occurrences of visible gold, assays of samples from which range from 1.87g/t to 1,065g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits.
The current drill program, recently increased to 50,000 metres, has only tested Big Vein over approximately 100 metres of strike length of the 400m surface exposure and to vertical depths of 50 metres. However, drilling has already produced visible gold in six drill holes giving high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.
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 ICP (inductively coupled plasma) finish with samples containing visible gold assayed by metallic screen/fire assay. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
bGold, 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
Roger Moss, PhD., P.Geo., President and CEO of La company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early March 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 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. 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 recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $36 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in 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 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.
The Company has 150,577,206 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
Big Vein Plan Map.
Figure 2
High-grade gold intercept in Hole K-21-31. Note photo is not intended to be representative of gold mineralization in Hole K-21-31.
Figure 3
Core photo of Hole K-21-31 from 0.0 to 12.86m showing high grade intersection. Note that this photo is not intended to be representative of mineralization in hole K-21-31.
ILI.v $ARXRF Infinite Ore Signs Loi With Trillium Gold to Sell Interest in Eastern Vision Project in Red Lake
by @accesswire on 19 Jul 2021, 05:02
- Infinite Ore to Refocus on Jackpot Lithium Project -
VANCOUVER, BC / ACCESSWIRE / July 19, 2021 / Infinite Ore Corp. (the "Company" or "Infinite") (TSXV:ILI)(OTCQB:ARXRF) announced today that it has entered into a non-binding Letter of Intent ("LOI") with Trillium Gold Mines Inc. (TSXV:TGM) ("Trillium") whereby Trillium will acquire, subject to certain terms and conditions, all of Infinite's property holdings known as the Eastern Vision Project located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt near Red Lake, Ontario (the "Proposed Transaction").
Under the Proposed Transaction upon signing of a definitive agreement Trillium would issue 4,000,000 common shares of Trillium and pay $175,000 in cash to Infinite. In addition, Trillium would assume all of Infinite's cash payment commitments under its existing option agreements. Infinite would retain its share issuance obligations. The Eastern Vision project covers 19,438 hectares between the Fredart, Garnet Lake, Confederation North, and Confederation South properties.
J.C. St-Amour, President of Infinite Ore, commented, "The Proposed Transaction will give Infinite exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area as well as allow us to focus our exploration efforts on our 100% owned Jackpot Lithium project, located near Thunder Bay, Ontario. This project is proximal to Rock Tech Lithium's Georgia Lake lithium project. Rock Tech's intention to build a lithium processing facility in the area considerably changes the dynamics of the Jackpot project. That, coupled with the renewed market interest and growing demand for lithium, has compelled us to redouble our exploration on Jackpot. Keeping our capital structure in mind, today's proposed transaction would allow us to explore the potential of Jackpot without further shareholder dilution and still enable us to participate in the upside of Trillium's work in the Red Lake Mining District."
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is situated 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 pegmatite showings, including two that contain historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently completed a magnetic survey on Jackpot to identify structures on the property that would assist in locating high priority lithium targets for future drilling to add to the existing 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 the NI-43-101 Instrument 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 is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.
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).
SOURCE: Infinite Ore Corp.
View source version on accesswire.com:
https://www.accesswire.com/655997/Infinite-Ore-Signs-Loi-With-Trillium-Gold-to-Sell-Interest-in-Eastern-Vision-Project-in-Red-Lake
BARU.v $BARUF Baru Gold Provides Update on COVID-19 in Indonesia and Additional Corporate Updates
by @thenewswire on 15 Jul 2021, 21:39
(TheNewswire)
July 15, 2021 - TheNewswire - Vancouver, BC - Baru Gold Corp (“Baru Gold” or the “Company”) (TSXV:BARU) (OTC:BARUF) wishes to provide an update to stakeholders and investors on the recent COVID-19 situation in Indonesia, its impact on operations, and updates on the Sangihe gold project.
As of July 12th, 2021, Indonesia has reported more than 2.5 million cases overall with daily coronavirus infections ramping up to 50,000 cases. Compared to the winter peak of 11,000 new cases per day in January of 2021, the Delta and Lambda variants are significantly impacting the spread of COVID-19 in Indonesia.
The Indonesian government has implemented regulations, including Emergency Restricted Movements (PPKM Darurat), in many parts of the country, allowing travel for essential purposes only. Islands beyond Java and Bali, the epicenter of the current outbreak, such as Sangihe Island, are now under travel bans and emergency restrictions from 3 July to 20 July 2021. Additionally, many companies and service industries have been temporarily closed in a bid to stem the spread of COVID-19.
UPDATE ON SANGIHE PROJECT
The government response to the COVID-19 emergency is dynamic, changes daily, and is impacting the Company’s operations. The team continues to make progress, however, Sanghie Island has not been spared from the increase in cases of COVID-19, and this has resulted in delays due to some of our stakeholders becoming infected and their need to recover in isolation.
The Company is actively addressing COVID-19 protocols to keep staff and contractors safe, including working remotely where possible, wearing masks, and ensuring the team is on the priority list for their second vaccinations. Conservatively, the Company expects travel and medical delays to the end of this month. The Company will provide further updates as information becomes available.
WARRANT EXTENSION
In light of the anticipated delays due to the spread of COVID-19, Baru Gold announces that, subject to acceptance by the TSX Venture Exchange, the Company wishes to:
Amend the exercise term of 3,928,000 outstanding common share purchase warrants (the “June 2019 Warrants”) of the Company. The Warrants were originally issued on June 17, 2019. The exercise term of the share purchase warrants has been amended from July 17, 2021, to October 17, 2021.
AGM RESULTS
The shareholders of the Company voted in favour of all items of business brought before them at the Company's Annual General Meeting (the "AGM") that was held on July 9, 2021, in Vancouver, BC, Canada. At the AGM, shareholders voted in favour of all nominations to the Board of Directors (the "Board"), with Terry Filbert, Scott Chaykin, Garry Kielenstyn, John Ellis, and Joseph Keane each re-elected to the Board. Shareholders also re-appointed Davidson & Company LLP, Chartered Accountants, as the auditor of the Company, and that the number of directors elected be fixed at five (5).
APPOINTMENT OF CORPORATE SECRETARY
Baru Gold is pleased to announce the appointment of Ms. Bernice Wong to the Corporate Secretary position effective July 9, 2021.
GRANT OF STOCK OPTIONS
The Company announces that it has granted an aggregate amount of 1,170,750 stock options to officers, directors, employees, and consultants of the Company in accordance with the provisions of the Company's stock option plan. The grant of the options is subject to the approval of the TSX Venture Exchange. Each option entitles the holder to purchase one common share of the Company at an exercise price of $0.07 for a five-year period.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-silver project is located on the island of Sangihe off the northern coast of Sulawesi and 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" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance the project to construction and production in 2021.
Currently, Baru is awaiting final land acquisition to conclude so construction of the heap leach can proceed with production expected to commence in 2021. 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.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
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.
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) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Provides Update on COVID-19 in Indonesia and Additional Corporate Updates
by @thenewswire on 15 Jul 2021, 21:39
(TheNewswire)
July 15, 2021 - TheNewswire - Vancouver, BC - Baru Gold Corp (“Baru Gold” or the “Company”) (TSXV:BARU) (OTC:BARUF) wishes to provide an update to stakeholders and investors on the recent COVID-19 situation in Indonesia, its impact on operations, and updates on the Sangihe gold project.
As of July 12th, 2021, Indonesia has reported more than 2.5 million cases overall with daily coronavirus infections ramping up to 50,000 cases. Compared to the winter peak of 11,000 new cases per day in January of 2021, the Delta and Lambda variants are significantly impacting the spread of COVID-19 in Indonesia.
The Indonesian government has implemented regulations, including Emergency Restricted Movements (PPKM Darurat), in many parts of the country, allowing travel for essential purposes only. Islands beyond Java and Bali, the epicenter of the current outbreak, such as Sangihe Island, are now under travel bans and emergency restrictions from 3 July to 20 July 2021. Additionally, many companies and service industries have been temporarily closed in a bid to stem the spread of COVID-19.
UPDATE ON SANGIHE PROJECT
The government response to the COVID-19 emergency is dynamic, changes daily, and is impacting the Company’s operations. The team continues to make progress, however, Sanghie Island has not been spared from the increase in cases of COVID-19, and this has resulted in delays due to some of our stakeholders becoming infected and their need to recover in isolation.
The Company is actively addressing COVID-19 protocols to keep staff and contractors safe, including working remotely where possible, wearing masks, and ensuring the team is on the priority list for their second vaccinations. Conservatively, the Company expects travel and medical delays to the end of this month. The Company will provide further updates as information becomes available.
WARRANT EXTENSION
In light of the anticipated delays due to the spread of COVID-19, Baru Gold announces that, subject to acceptance by the TSX Venture Exchange, the Company wishes to:
Amend the exercise term of 3,928,000 outstanding common share purchase warrants (the “June 2019 Warrants”) of the Company. The Warrants were originally issued on June 17, 2019. The exercise term of the share purchase warrants has been amended from July 17, 2021, to October 17, 2021.
AGM RESULTS
The shareholders of the Company voted in favour of all items of business brought before them at the Company's Annual General Meeting (the "AGM") that was held on July 9, 2021, in Vancouver, BC, Canada. At the AGM, shareholders voted in favour of all nominations to the Board of Directors (the "Board"), with Terry Filbert, Scott Chaykin, Garry Kielenstyn, John Ellis, and Joseph Keane each re-elected to the Board. Shareholders also re-appointed Davidson & Company LLP, Chartered Accountants, as the auditor of the Company, and that the number of directors elected be fixed at five (5).
APPOINTMENT OF CORPORATE SECRETARY
Baru Gold is pleased to announce the appointment of Ms. Bernice Wong to the Corporate Secretary position effective July 9, 2021.
GRANT OF STOCK OPTIONS
The Company announces that it has granted an aggregate amount of 1,170,750 stock options to officers, directors, employees, and consultants of the Company in accordance with the provisions of the Company's stock option plan. The grant of the options is subject to the approval of the TSX Venture Exchange. Each option entitles the holder to purchase one common share of the Company at an exercise price of $0.07 for a five-year period.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-silver project is located on the island of Sangihe off the northern coast of Sulawesi and 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" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance the project to construction and production in 2021.
Currently, Baru is awaiting final land acquisition to conclude so construction of the heap leach can proceed with production expected to commence in 2021. 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.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
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.
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) 2021 TheNewswire - All rights reserved.
SKYG.v $SRKZF Sky Gold Reports Drill Results From the Mustang Project, Newfoundland
by @accesswire on 15 Jul 2021, 11:36
VANCOUVER, BC / ACCESSWIRE / July 15, 2021 / Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") reports on the results from the diamond drill program on the Company's Mustang Property contiguous to the Queensway Gold Project, owned by New Found Gold Corp. ("New Found").
A total of 19 diamond drill holes comprising 3,283 meters were completed, with one additional hole (MT-21-10a) lost at 47 meters, and re-drilled. All holes were directed at interpreted epithermal structurally controlled gold mineralization in the Mustang Zone, located on the eastern portion of the property. Previous exploration on the Mustang Zone in the 1980's and 1990's had returned significant gold mineralization in surface rock samples, soil geochemical samples and diamond drill core. The Company's 2020-2021 diamond drill program confirmed and expanded the gold mineralization on the Mustang Zone.
Highlights include:
Drilling was conducted in three areas along a 1.2 kilometer strike length, trending North-North-East and South-South-West.
Several narrow intercepts of gold mineralization were intercepted in multiple holes (e.g. MT-21-14, 3.80 grams per tonne gold (g/t Au) over 1.50 meters (m) at 36.42 m depth, 7.77 g/t Au over 0.50 m at 66.04 m, and in MT-21-15, 7.49 g/t Au over 0.50 m at 99.3 m depth). See Table 2 below, highlighting assay values of 0.50 g/t Au or greater, with completed assay data and cross-sections available on the Company's website (http://www.skygoldcorp.com).
Wider intervals of lower grade gold values were intercepted in multiple holes, with potential for low-grade bulk-style mineralization on portions of the Mustang Zone. Intervals include MT-21-14, 0.78 g/t Au over 32.85 m from a depth of 15.00 m, and MT-20-01, 0.58 g/t Au over 20.32 m from a depth of 80.18 m.
Company President and CEO Mike England commented: "The initial diamond drill program on the Mustang Zone has confirmed and expanded the previously identified mineralized targets. We have only tested a limited portion of the entire length of the Mustang Zone and have numerous drill targets on the western portion of the property, and new gold-in-soil geochemical targets that warrant additional drilling."
All of the Company's field activities are conducted under Federal and Provincial COVID-19 operating protocols and safety measures as required. Planet X Exploration Services Ltd.'s field crews, retained through Grassroots Prospecting, a local, Newfoundland-based prospect generation company, are undertaking all field and drill activities on the Company's Newfoundland properties.
Figure 1: Location of the Mustang Property and area of current drilling.
Table 1: Drilling Summary
Figure 2: DRILL PLAN - NORTH AREA
Table 2: North Zone Drilling Results
Figure 3: DRILL PLAN - SOUTH AREA
Table 3: South Zone Drilling Results
All core samples were secured delivered to Eastern Analytical Laboratory in Springdale, Newfoundland, for analysis, an ISO/IEC17025 accredited laboratory. QA/QC included the systematic insertion of certified standards and blanks. Core samples were analyzed for the ICP-34 package (34 element 4 acid leach, ICP-OES finish) and the Fire Assay (30g) with AA finish. Eastern Analytical also provides its own internal QA/QC protocol of blanks, duplicates and standards in each work order, which is supplied to the Company.
SKY GOLD'S NEWFOUNDLAND PROJECTS:
Virginia Property
The Virginia property comprises 100 hectares and is approximately 5.7 kilometres northeast of New Found's drill hole NFGC-19-01 which intersected 92.86 Au g/t over 19 m (see New Found press release dated August 12, 2020). Historic results completed in the early 1990s by Manor Resources Ltd., reports two areas of mineralization (Zone A-2). One showing comprised quartz veining developed over a 35 m wide zone within sheared gabbro and graphitic shale (main shear) returning up to 8.7 Au g/t, and a second showing comprised a sheared gabbro returned a grab sample up to 109.6 Au g/t.
Mustang Property
The Mustang property comprises 1,625 hectares and is contiguous to New Found Gold's Queensway project and approximately five kilometres southwest of their discovery hole. The Mustang property hosts numerous gold prospects including the Mustang and Piper zones, on trend with New Found Gold Corp's current drill program, and the Road Breccia, Jasperoid, and Barite showings on the western portion of the property.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, and Independent Director of Sky Gold, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Mustang and Virginia properties.
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. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization. The Company also 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/655740/Sky-Gold-Reports-Drill-Results-From-the-Mustang-Project-Newfoundland
GMG.v $GMGMF GMG Announces In-House Battery Pilot Plant Investment
by @thenewswire on 14 Jul 2021, 05:32
(TheNewswire)
BRISBANE, QUEENSLAND, AUSTRALIA – TheNewswire - July 14th, 2021 - Graphene Manufacturing Group Ltd. (TSXV:GMG) (“GMG” or the “Company”) is pleased to announce that it is procuring equipment for a pilot production and testing plant for the manufacture of its Graphene Aluminum-Ion Batteries.
Following recently published exciting performance results and very encouraging customer feedback, production of a commercial prototype coin cell battery is targeted before the end of 2021. This pilot production and testing plant is an important next step in the Company’s battery technology development plan.
The Company is also evaluating the purchase of additional equipment to enable the manufacturing of Graphene Aluminum-Ion Batteries in a pouch cell format.
GMG’s Managing Director and CEO, Craig Nicol, commented: “GMG believes that its ability to manufacture Graphene Aluminum-Ion Batteries in-house allows us to directly control the production of coin and potentially pouch cell batteries for early customer testing and likely speed up the development and commercialisation of this exciting battery technology. The necessary equipment for our pilot production and testing plant is also readily available and the Company believes that it is cost effective as it’s the same standard equipment used for the manufacture of existing coin cell format batteries.”
“We have received a large number of inquiries about our promising battery technology from across the world and we look forward to working with potential customers to meet demand for next generation rechargeable battery technology. We continue to work closely with the University of Queensland to develop a commercial coin cell prototype by the end of 2021 and a pouch cell commercial prototype by the end of 2022. Having our own battery manufacturing capability provides the Company with an opportunity to accelerate the development timeline of the commercial production plant.” Craig Nicol said.
The Company believes that its performance testing results of early prototypes have shown very encouraging power and energy density results and that batteries are retaining full performance after more than 3000 charge and discharge cycles. Furthermore, the Company believes that such results show that the Graphene Aluminum-Ion Batteries are almost fully recyclable, have an extremely low fire risk and do not use lithium nor any rare earth metals.
About GMG
GMG is an Australian based clean-tech disruptive company listed on the TSXV (TSXV:GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lube oil, biodiesel and diesel fuels.
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, leo@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 press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to statements relating to the development of its pilot production and testing plant and procuring equipment for the same, manufacturing of prototypes by GMG and the University of Queensland, anticipated timelines for commercial prototypes and customer testing, management's expectations from its testing results, the results arising from and application of GMG’s graphene aluminium-ion batteries, and the Company's pursuit of opportunities for GMG in Australia and internationally.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the accuracy of the Company’s cost and timing expectations, that the Company will be successful in the development of its pilot production and testing plant as expected, the Company will be able to procure equipment for the pilot production and testing plant, the Company and the University of Queensland will be able to manufacture prototypes and complete customer testing as anticipated and on the expected timelines, the Company's testing results will be aligned with management's expectations, the results and application of GMG’s graphene aluminium-ion batteries will be aligned with management's expectations, the Company will be successful in pursuing additional opportunities both in Australia and internationally, that the Company’s operations and ability to develop its products will not be adversely impacted by COVID-19, the Company’s ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not be successful in the development of its pilot production and testing plant as expected, the Company will not be able to procure equipment for the pilot production and testing plant, the Company and the University of Queensland will not be able to manufacture prototypes and complete customer testing as anticipated and on the expected timelines, the Company's testing results will not be aligned with management's expectations, the results and application of GMG’s graphene aluminium-ion batteries will not be aligned with management's expectations, the Company will not be successful in pursuing additional opportunities both in Australia and internationally, that the Company’s operations and ability to develop its products will be adversely impacted by COVID-19, the Company will not be able to research, develop and test its products within anticipated timelines, that results of testing and development data will not be consistent with anticipated results and estimates, and the risk factors set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available for review on the Company's profile at www.sedar.com, many of which are beyond the ability of the Company to control or predict. Such risk factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions regarding the Company’s ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Copyright (c) 2021 TheNewswire - All rights reserved.
GMG.v $GMGMF GMG Announces In-House Battery Pilot Plant Investment
by @thenewswire on 14 Jul 2021, 05:32
(TheNewswire)
BRISBANE, QUEENSLAND, AUSTRALIA – TheNewswire - July 14th, 2021 - Graphene Manufacturing Group Ltd. (TSXV:GMG) (“GMG” or the “Company”) is pleased to announce that it is procuring equipment for a pilot production and testing plant for the manufacture of its Graphene Aluminum-Ion Batteries.
Following recently published exciting performance results and very encouraging customer feedback, production of a commercial prototype coin cell battery is targeted before the end of 2021. This pilot production and testing plant is an important next step in the Company’s battery technology development plan.
The Company is also evaluating the purchase of additional equipment to enable the manufacturing of Graphene Aluminum-Ion Batteries in a pouch cell format.
GMG’s Managing Director and CEO, Craig Nicol, commented: “GMG believes that its ability to manufacture Graphene Aluminum-Ion Batteries in-house allows us to directly control the production of coin and potentially pouch cell batteries for early customer testing and likely speed up the development and commercialisation of this exciting battery technology. The necessary equipment for our pilot production and testing plant is also readily available and the Company believes that it is cost effective as it’s the same standard equipment used for the manufacture of existing coin cell format batteries.”
“We have received a large number of inquiries about our promising battery technology from across the world and we look forward to working with potential customers to meet demand for next generation rechargeable battery technology. We continue to work closely with the University of Queensland to develop a commercial coin cell prototype by the end of 2021 and a pouch cell commercial prototype by the end of 2022. Having our own battery manufacturing capability provides the Company with an opportunity to accelerate the development timeline of the commercial production plant.” Craig Nicol said.
The Company believes that its performance testing results of early prototypes have shown very encouraging power and energy density results and that batteries are retaining full performance after more than 3000 charge and discharge cycles. Furthermore, the Company believes that such results show that the Graphene Aluminum-Ion Batteries are almost fully recyclable, have an extremely low fire risk and do not use lithium nor any rare earth metals.
About GMG
GMG is an Australian based clean-tech disruptive company listed on the TSXV (TSXV:GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lube oil, biodiesel and diesel fuels.
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, leo@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 press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to statements relating to the development of its pilot production and testing plant and procuring equipment for the same, manufacturing of prototypes by GMG and the University of Queensland, anticipated timelines for commercial prototypes and customer testing, management's expectations from its testing results, the results arising from and application of GMG’s graphene aluminium-ion batteries, and the Company's pursuit of opportunities for GMG in Australia and internationally.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the accuracy of the Company’s cost and timing expectations, that the Company will be successful in the development of its pilot production and testing plant as expected, the Company will be able to procure equipment for the pilot production and testing plant, the Company and the University of Queensland will be able to manufacture prototypes and complete customer testing as anticipated and on the expected timelines, the Company's testing results will be aligned with management's expectations, the results and application of GMG’s graphene aluminium-ion batteries will be aligned with management's expectations, the Company will be successful in pursuing additional opportunities both in Australia and internationally, that the Company’s operations and ability to develop its products will not be adversely impacted by COVID-19, the Company’s ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not be successful in the development of its pilot production and testing plant as expected, the Company will not be able to procure equipment for the pilot production and testing plant, the Company and the University of Queensland will not be able to manufacture prototypes and complete customer testing as anticipated and on the expected timelines, the Company's testing results will not be aligned with management's expectations, the results and application of GMG’s graphene aluminium-ion batteries will not be aligned with management's expectations, the Company will not be successful in pursuing additional opportunities both in Australia and internationally, that the Company’s operations and ability to develop its products will be adversely impacted by COVID-19, the Company will not be able to research, develop and test its products within anticipated timelines, that results of testing and development data will not be consistent with anticipated results and estimates, and the risk factors set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available for review on the Company's profile at www.sedar.com, many of which are beyond the ability of the Company to control or predict. Such risk factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions regarding the Company’s ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Copyright (c) 2021 TheNewswire - All rights reserved.
SKYG.v $SRKZF neighbour in Que out with some impressive near surface assays...
AMX.v $AMXEF Amex Drills Large Intervals of Near-Surface Gold Mineralization at Denise Zone Expanding Lateral Strike to 450 m at Perron, Quebec
by @newsfile on 13 Jul 2021, 00:01
Denise Highlight Results
1.58 g/t Au over 38.80 metres at a vertical depth of approximately 150 metres in hole PE-21-243
1.2 g/t Au over 18.90 metres at a vertical depth of approximately 80 metres and 0.70 g/t Au over 23.10 metres at a vertical depth of approximately 30 metres in hole PE-21-246
1.32 g/t Au over 13.50 metres at a vertical depth of approximately 90 metres in hole PE-21-249
1.79 g/t Au over 14.25 metres at a vertical depth of approximately 45 metres in hole PE-21-250
3.14 g/t Au over 12.00 metres at a vertical depth of approximately 170 metres in hole PE-21-262
2.52 g/t Au over 8.00 metres at a vertical depth of approximately 300 metres in hole PE-21-270
2.25 g/t Au over 16.35 metres at a vertical depth of approximately 95 metres in hole PE-21-277
Montreal, Quebec--(Newsfile Corp. - July 13, 2021) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to report drill results focused on definition and expansion drilling of the Denise Zone ("Denise") of the Eastern Gold Zone ("EGZ") on the Perron Gold Project, Quebec. For reference the Denise Zone is approximately 20 to 100 m south of the High Grade Zone where the Company recently reported 79.22 g/t Gold over 6.15 Metres Including 929.24 g/t Gold over 0.50 Metres (press release June 28, 2021). See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones.
Kelly Malcom Vice President of Amex Exploration will be speaking with InvestInGold on the Thursdays 10@10 segment this coming Thursday, July 15, 2021 at 10 am EDT. Kelly will give a brief 10 min presentation followed by 10 min Q&A. To register please click here.
Today's results are focused on on-strike expansion as well as definition drilling of the Denise Zone as the Company works towards its maiden resource on the Perron Project. Today's results expand the lateral strike of the Denise Zone by 100 m, bringing the lateral near surface strike of the Denise Zone to 450 m. A complete list of results is available in Table 1 and presented in Figure 2.
Jacques Trottier, PhD Executive Chairman of Amex said, "We have recently drilled a significant amount of near-surface holes into the Denise zone, as shown in Figure 2. Today's results show only a fraction of the holes drilled on Denise with a number of holes still pending. It is our expectation that Denise will contribute a meaningful number of ounces in our upcoming maiden resource. Of particular interest are drillholes PE-21-262, 270, 273, and 277, all of which expand the Denise Zone eastward and even to the east of a cross-cutting late diabase dyke. This is meaningful in terms of continued strike expansion potential, as gold mineralization is strong and clearly present to the east. The Company will continue to work to expand this near surface envelope."
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Figure 1: Plan Map of the Eastern Gold Zone that encompasses Denise and HGZ.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2667/90063_b827411da49c0b60_002full.jpg
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Figure 2: Longitudinal section of the Denise Zone looking South, with today's results labelled in green.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2667/90063_b827411da49c0b60_003full.jpg
Table 1: Assay Results from the Denise Zone at Perron
Denise Zone Results
Hole ID From (m) To (m) Length
(m) Au (g/t) Zone Vertical
depth (m)
PE-21-233 766.00 776.50 10.50 0.77 Denise Zone 680 to 710
And 794.50 809.50 15.00 0.37
PE-21-240 775.5 802.7 27.2 0.35 Denise Zone 700
PE-21-241 70.00 86.95 16.95 0.34 Denise Zone 50
PE-21-243 201.00 239.80 38.80 1.58 Denise Zone 150
Including 233.50 239.80 6.30 6.28
Including 234.15 235.00 0.85 24.71
PE-21-246 25.40 48.50 23.10 0.70 Denise Zone 30 and 80
And 97.10 116.00 18.90 1.20
PE-21-247 21.00 60.00 39.00 0.42 Denise Zone 30 and 100
Including 45.00 50.40 5.40 1.14
And 160.25 163.05 2.80 0.72
PE-21-249 120.00 133.50 13.50 1.32 Denise Zone 90
Including 121.40 121.90 0.50 20.50
PE-21-250 60.75 75.00 14.25 1.79 Denise Zone 45
Including 68.25 68.75 0.50 11.57
Including 74.50 75.00 0.50 36.96
PE-21-255 52.50 70.60 18.10 0.50 Denise Zone 45
PE-21-256 129.20 164.00 34.80 0.65 Denise Zone 100
Including 129.20 129.70 0.50 35.18
PE-21-262 256.50 268.50 12.00 3.14 Denise Zone 170
Including 256.50 258.00 1.50 22.90
PE-21-270 360.00 368.00 8.00 2.52 Denise Zone 300
Including 364.50 366.00 1.50 9.74
PE-21-273 56.00 58.50 2.50 3.45 Denise Zone 40 to 150
And 157.65 165.00 7.35 0.96
And 235.20 239.40 4.20 3.44
PE-21-277 144.65 161.00 16.35 2.25 Denise Zone 95 to 125
Including 144.65 145.70 1.05 28.74
And 192.30 192.80 0.50 70.82
PE-21-282 122.70 138.00 15.30 0.52 Denise Zone 95
Including 125.30 125.80 0.50 6.62
*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~70-80% in Denise.
Qualified Person
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have 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 Maxime Bouchard and Jérôme Augustin.. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expertduring the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.
About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: 514-866-8209
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. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
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WHN.v $WTHVF Westhaven Hits High-Grade Gold at Multiple Zones at Shovelnose: Drills 76.33 Metres of 2.93 g/t Gold at South Zone and 4.18 Metres of 5.26 g/t Gold at FMN Zone
by @nasdaq on 7 Jul 2021, 04:00
VANCOUVER, British Columbia, July 07, 2021 (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.
Recent Highlights:
SNR21-05 (South Zone: Vein Zone 2, 181.00-257.33m)
76.33 metres (m) of 2.93 g/t gold (Au) and 11.30 g/t silver (Ag),
including 42.00m of 4.28 g/t Au and 16.86 g/t Ag,
including 2.00m of 26.60 g/t Au and 98.37 g/t Ag,
including 4.00m of 12.29 g/t Au and 36.90 g/t Ag.
SNR21-07 (South Zone: Vein Zone 1, 51.00-92.25m)
41.25m of 4.47 g/t Au and 17.69 g/t Ag,
including 1.83m of 54.33 g/t Au and 230.44 g/t Ag,
including 0.83m of 65.70 g/t Au and 237.00 g/t Ag.
SNR21-06 (South Zone: Vein Zone 1, 42.78-87.00m)
4.77m of 8.53 g/t Au and 14.14 g/t Ag,
and 3.00m of 5.78 g/t Au and 15.51 g/t Ag,
including 1.00m of 14.10 g/t Au and 37.60 g/t Ag.
SNR21-08 (South Zone: Vein Zone 2, 122.00-148.50m)
26.60m of 2.48 g/t Au and 14.25 g/t Ag,
including 3.23m of 17.15 g/t Au and 21.97 g/t Ag,
including 1.23m of 33.40 g/t Au and 182.00 g/t Ag.
SN21-167 (FMN: Vein Zone 1, 81.95-104.00m)
22.05m of 2.20 g/t Au and 5.88 g/t Ag,
including 4.18m of 5.26g/t Au and 9.27 g/t Ag.
Gareth Thomas, President & CEO of Westhaven Gold, states: “Though still early days at the FMN, 2021 exploration drilling has successfully outlined a 200m corridor of higher-grade zones of gold and silver mineralization starting from hole SN21-158 (3.46m of 9.46 g/t Au and 151.82 g/t Ag) to hole SN21-167 (4.18m of 5.26 g/t Au and 9.27 g/t Ag). Our technical team is getting a better handle on targeting the elevation range of best mineralization, which bodes well for future significant drill intercepts at FMN.” Thomas goes on to add, “The recent South Zone results (76.33m of 2.93 g/t Au and 11.30 g/t Ag) help validate the high-grade nature of this project as we continue to drill outside of this main structure looking for additional zones of gold and silver mineralization. A 3rd drill rig is on site testing these targets now.”
Peter Fischl, Exploration Manager adds: “Recent resource definition drilling at South Zone targeting Vein Zones 1 and 2 continues to intersect significant grades and widths in both zones (SNR21-05 to SNR21-08). Drilling at FMN has confirmed that stronger mineralization in Vein Zone 1 occurs at 1,200m to 1,300m elevation, similar to that seen at South Zone. Holes SN21-158, SN21-161, SN21-163 and SN21-167 encountered moderate to strong gold mineralization centred at 1205m in SN21-163, 1240m in SN21-161, 1280m in SN21-167, and 1320m in SN21-158. Weaker mineralization was encountered in a deeper test in hole SN21-162, which intersected Vein Zone 1 at 1120-1190m elevation. Follow-up drilling at FMN will focus on targeting shallower portions of Vein Zone 1 above 1200m elevation.”
Drillhole SNR21-08 intersected Vein Zone 2 starting at 122m downhole (26.60m of 2.48 g/t Au and 14.25 Ag) and is located 50m NW along strike from drillhole SNR21-05 which intersected Vein Zone 2 starting 181m downhole (76.33m of 2.93 g/t Au and 11.30 Ag). The Vein Zone 1 mineralization encountered in drill hole SNR21-07 (41.25m of 4.47 g/t Au and 17.69 g/t Ag) starts at 51m downhole. Resource holes (SNR21-09 to SNR21-16) were geologic holes drilled as part of the ongoing resource definition program and drilled on the eastern periphery of the South Zone with a view to providing information related to wallrock characterization and condemnation testing.
Additional 3RD Rig:
A third drill has been added to the property tasked with testing exploration targets located off of Vein Zone 1 where two drills are currently operating. The first target to be tested with this third drill was generated during the 2020 field season when a CSAMT (Controlled Source Audio-frequency Magneto-Tellurics) geophysics program was completed. The drill will start at CSAMT target 3 (please reference map below) which is located approximately 800m to the east of the South Zone and shares similar geophysical characteristics.
Please click the following link to the 2021 drill database table of assay results:
https://www.westhavengold.com/projects/shovelnose-gold/maps/
Westhaven Retains Market-Making Services:
Westhaven has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company. The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay VLP $5,000 per month for a period of 3 months. The agreement may be terminated at any time by the corporation or VLP. The corporation and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only. VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.
Westhaven Gold Webinar:
President & CEO Gareth Thomas will be participating in the following webinar on Wednesday, July 7th at 2 pm ET / 11:00 am PT. There will be a Q&A session post presentation as well.
REGISTRATION
https://www.redcloudfs.com/rcwebinar-whn/
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.
Maps accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/88ee39af-e9fc-403e-84a2-b2db475e13dc
https://www.globenewswire.com/NewsRoom/AttachmentNg/f3ad4f59-3741-435a-8c09-2a1b09a6aee7
https://www.globenewswire.com/NewsRoom/AttachmentNg/33f8c7f3-bcbc-4a42-bd4c-7035b9cccfaa
https://www.globenewswire.com/NewsRoom/AttachmentNg/e2b55cf9-b31a-4d72-a7cf-ad4506d6f0dd
Primary Logo
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PLAN MAP
Image 2
CROSS-SECTION
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CROSS-SECTION
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INTERVALS WITH OVER 100 AU G-M
SKYG.v's neighbour in Nevada getting busy...
Newrange Drills Apparent Offset of Pamlico Mine in Follow-Up of New High-Grade Zone NRG.v
by @thenewswire on 6 Jul 2021, 05:32
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA – TheNewswire - July 6, 2021 (TSXV:NRG) US (OTC:NRGOF) (Frankfurt:X6C) – Newrange Gold Corp. ("Newrange" or the “Company") is pleased to announce that it has completed four PQ (85 mm diameter) diamond core holes totaling 800.6 meters following up on reverse circulation hole P21-115, which intersected several high-grade structures assaying up to 22.35 grams gold per metric tonne (g/t Au) within an overall intercept of 123.5 meters averaging 1.13 g/t Au (Newrange news release of February 23, 2021). All four holes are 25 to 35 meter offsets of hole P21-115 and, collectively, appear to have discovered a previously unknown extension of the historic, high-grade Pamlico Mine (see map here). In particular, distinctive mineralogy intersected in hole P21-122 indicates an important offset extension of the 5428 level stopes that remains open in at least three directions.
All four core holes, P21-122 to 125, inclusive, intersected near surface, visually significant, oxide mineralization resembling that seen in hole P21-115, the Merritt zone and stopes on the 5428 level of the Pamlico Mine. The mineralization, as seen in the drill holes, occurs over broad intervals ranging from 108 to 167 meters downhole (all holes drilled at -60°) and consists of anastomosing veins and veinlets of iron oxides, and brecciated quartz filled with iron oxides in strongly clay altered rhyolite to latite lithic tuff. Importantly, the first core hole, P21-122, intersected a zone from 23 to 183 meters of iron oxide-filled brecciated quartz veins and veinlets and a 0.6 meter intercept of brecciated quartz with secondary copper minerals, including abundant chrysocolla and lesser amounts of azurite and malachite (see photo below or here). A similar vein on the 5428 level assayed 5.62 g/t Au, 63.2 g/t Ag and 9790 parts per million copper (ppm Cu) or 0.98% Cu over 0.48 meters. The 5428 vein is the only structure associated with gold mineralization in the Pamlico Mine known to contain chrysocolla or appreciable quantities of other copper minerals (see photo below or here).
“We are very encouraged by the four follow up holes on this new zone, and especially with the apparent correlation with the Pamlico Mine mineralization,” stated Robert Archer, Newrange CEO. “While all assays are pending, the zone appears to be open to the north, east and south. Once results have been received and compiled, we will be in a better position to interpret the potential and plan additional follow-up drilling.”
The 5428 level stopes are developed on a series of nearly flat to low angle, anastomosing veins and veinlets composed of iron oxide, and iron oxide-filled quartz breccias that form a halo around a single larger, semi-continuous and relatively flat lying brecciated quartz vein with abundant iron oxides and local concentrations of chrysocolla, azurite and malachite. The 11 samples taken by the Company on this level returned 0.29 to 10.35 g/t Au and 162 to 9790 ppm Cu over sample lengths ranging from 0.15 to 1.32 meters.
Click Image To View Full Size
Photo 1 (left): Chrysocolla in brecciated quartz vein at 54 meters (178 feet) in core hole P21-122
Photo 2 (right): Flat-lying vein with chrysocolla in 5428 level stope of Pamlico Mine, assaying 5.62 g/t Au, 63.2 g/t Ag and 9790 parts per million copper (ppm Cu) or 0.98% Cu over 0.48m
The area of new drilling is located approximately 85 meters east of the high-grade Merritt zone and 197 meters north-northeast of the closest accessible stopes on the 5428 level of the Pamlico Mine. Observed core angles of structures in the zone indicate a strong sub-horizontal component much like that seen in many of the stopes in the Pamlico Mine. The copper-rich intercept in hole P21-122 is about 80 meters lower in elevation than the 5428 level, indicating this new zone to be a possible down-dropped extension of high-grade mineralization in the Pamlico Mine.
The copper-rich vein was not observed in holes P21-123 to 125 but the same overall style of mineralization and alteration is present to varying degrees in all holes. The structure is complex and faulting is common, with much of the rock being extremely broken. Assays from the four follow-up holes are pending and, upon receipt, will allow for a better determination of the characteristics and trend(s) of the mineralization such that additional follow-up holes can be planned.
The Company is now in receipt of the final report on the recent expansion of the Induced Polarization (IP) survey. As recently discovered gold-copper mineralization on surface (see Newrange news release of June 14, 2021) appears to be associated with a 5.5 by 3 kilometer IP anomaly, Newrange management now considers this to be a higher priority target than the ‘91’ zone or the ‘Line 5’ anomaly. Consequently, the drill will be moving to this area next.
Quality Assurance/Quality Control
Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101, the President and Chairman of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release. All reverse circulation drilling was conducted using a five-inch diameter center return bit. All drilling was supervised by professional geologists. Samples were collected on 1.5 meter (5 foot) intervals. Drill cuttings were captured in a vacuum augmented, closed system cyclone, then riffle split in a three-tiered Jones-type splitter. All core reported in this release is PQ diameter core, drilled with “triple tube” split shells. Core is logged and marked by professional geologists for sampling. Core is then saw-cut along the marked sample lines with diamond saws. Sludge from each identified sample interval is collected separately, flocculated, dried and split. One half of the sludge is then combined with the one half of the core for assay, the other half of sludge is placed in a paper envelope and kept with the one half reference core for future work. Samples are securely stored and delivered to Paragon Geochemical Laboratories in Sparks, Nevada for preparation and analysis. Samples are dried then stage crushed to 80% passing 10 mesh. A 300 gram sub-sample is then split out and pulverized to 90% passing 140 mesh from which 1 Assay Ton, approximately 30 gram samples are split for analysis by fire assay (FA) with an OES finish. Samples assaying in excess of 5 g/t Au are re-assayed by fire assay with a gravimetric finish. Silver was determined by fire assay with an atomic absorption finish. In addition to the QA – QC conducted by the laboratory, the Company inserts blanks, duplicates, standards and certified reference material (CRM) at a rate of not less than 1 in 20.
About Pamlico
Located 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project enjoys excellent access and infrastructure, a mild, year-round operating climate and strong political support from Mineral County, one of the most pro-mining counties in the pro-mining state of Nevada. The Pamlico project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines. Discovered in 1884, the district rapidly gained a reputation as being one of Nevada’s highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration.
Recent exploration by the Company has identified the potential for district-scale skarn and porphyry related mineralizing systems.
About Newrange Gold Corp.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada, Ontario and Colorado. With locally high-grade, near surface oxide gold mineralization, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery, while the North Birch Project offers additional blue-sky potential in the prolific Red Lake District. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.
Signed: “Robert Archer”
CEO & Director
For further information contact:
Sharon Fleming
Dave Cross
Corporate Communications
Chief Financial Officer and Corporate Secretary
Phone: 760-898-9129
Email:
info@newrangegold.com
Phone: 604-669-0868
Email:
dcross@crossdavis.com
Website: www.newrangegold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
Copyright (c) 2021 TheNewswire - All rights reserved.
SKYG.v's neighbour ... New Found NFG.v $NFGFF Provides Appleton Fault Zone Exploration Update
by @newswire on 6 Jul 2021, 04:30
VANCOUVER, BC, July 6, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to provide an update concerning generative exploration results from multiple targets along the prolific Appleton Fault Zone ("AFZ") on its 100%-owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
Queensway is host to an extensive epizonal orogenic gold system, one capable of generating very high-grade gold mineralization. To date, New Found has discovered three robust structurally controlled high-grade gold deposits: Keats, Lotto, and Golden Joint. High-grade gold mineralization is typically comprised of intense quartz stockwork veining with abundant fine particles of visible gold. Although sulphide contents of such mineralization are generally very low, particles of the lead-antimony sulfosalt, boulangerite, occur ubiquitously with native gold. Lower grade gold intercepts are often encountered in the vicinity of such high-grade mineralization often occurring in altered sedimentary host rocks adjacent to quartz veins along with moderately abundant disseminated sulphides including pyrite and arsenopyrite. When such low-grade mineralization is encountered in drilling, it can help point to high-grade mineralization nearby.
New Found, with the help of GoldSpot Discoveries Corp., continually refines its geologic model to maximize the chances of making further high-grade discoveries along the AFZ. Numerous new targets have been the subject of recent drilling, and the Company believes additional high-grade discoveries will be made as it advances its ongoing 200,000m diamond drill program. This news release provides a comprehensive overview of recent exploration results from the AFZ corridor within the North Queensway Project.
AFZ Exploration Highlights
New Found has made significant progress advancing multiple targets along the Appleton Fault Zone on Queensway North. Figure 1 below shows the Keats, Lotto, and Golden Joint discovery areas along with additional primary generative targets.
The high-grade discoveries at the Keats, Lotto, and Golden Joint Zones have each been made by following up on lower grade intervals of gold mineralization from initial drilling in the target area. In addition to the presence of gold mineralization these discovery areas also display areas of alteration and pathfinder elements that appear to be associated with high-grade epizonal style gold mineralization. Significant areas of white mica alteration along with boulangerite and chalcopyrite mineralization occur proximate to higher grade gold.
The generative targets being pursued typically have significant presence of these styles of alteration and pathfinder elements coincident with significant gold mineralization. Based on our interpretation, we believe these areas have a significantly enhanced probability of hosting high-grade epizonal mineralization.
Highlights of initial drilling on these generative targets is summarized the Tables below, additional drill results from this work provided in Drillhole Details section.
Figure 1. Appleton Fault Zone targets, Queensway North (CNW Group/New Found Gold Corp.)
Figure 1. Appleton Fault Zone targets, Queensway North
New Appleton Fault Zone Generative Drill Results (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Denis Laviolette, President of New Found, stated, "Our understanding of the genesis of high-grade gold mineralization along the Appleton fault continues to evolve. Following up on intervals of lower grade gold mineralization associated with specific styles of alteration and pathfinder minerals and elements was a key step in our discoveries of high grade at Keats, Lotto, and recently Golden Joint. There are now more than 15 additional areas along the Appleton fault that have returned significant gold mineralization that we believe are prospective for high grade epizonal style discovery. We are continuing with interpretation work and additional drilling in the pursuit of finding additional zones of high-grade epizonal style gold along 7.8km of strike along the Appleton Fault Zone.
The Appleton fault is a deep crustal structure and plumbing conduit persists for over 7km of strike distance through Queensway North. With our discovery success and continued generation and advancement of new targets, our confidence continues to build that with further drilling we will make additional discoveries of high-grade epizonal gold mineralization along the Appleton Fault Zone."
Previously Released Appleton Fault Zone Generative Drill Results (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Keats to Lotto Corridor
New Found's three advancing high-grade epizonal discoveries to date occur along an approximately 2km corridor of the Appleton Fault Zone, shown in the long section in Figure 2 below.
Figure 2. Long section along the Keats to Lotto corridor (CNW Group/New Found Gold Corp.)
Figure 2. Long section along the Keats to Lotto corridor
In addition to the Keats, Lotto, and Golden Joint discoveries, exploration is continuing on multiple additional target areas across an approximately 800m wide corridor on the east side of the Appleton fault that demonstrates significant gold mineralization coincident with alteration and mineralization styles that are commonly found proximate to high-grade epizonal style mineralization. The generative target areas in this corridor include Keats North, Dome, Road, Golden Joint HW, and Sunday (see Figure 1). Notable drill intervals in these generative targets on the east side of the Appleton include 6.53g/t over 2.0m at Keats North, approximately 200m north of where the main Keats high-grade zone appears to sub crop, 35.4g/t over 2.7m at Road, 38.7g/t over 2.95m at Sunday, and 12.7g/t over 2.0m at Golden Joint HW.
Generative targets along an approximately 500m wide corridor on the west side of the Appleton Fault include Cokes and Little-Powerline which have both returned encouraging drill intervals, as well as Trench 26 and Zone 36 where significant gold mineralization, alteration, and indicator minerals have been noted in trenching to be followed up shortly with drilling.
Keats Area (Keats Main, Keats FW, Keats North, Cokes)
Recently received Keats drill intervals along with intervals returned from Keats North and Cokes are shown on the plan map and long section in Figures 3 and 4 below.
Figure 3. KeatsAreaPlan View (CNW Group/New Found Gold Corp.)
Figure 3. Keats Area Plan View
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Figure 4. Keats Long Section (CNW Group/New Found Gold Corp.)
Figure 4. Keats Long Section
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Keats Main
Highlight intervals from recently received Keats drilling include:
Keats Main - Highlight intervals from recently received Keats drilling (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The intervals of 96.5g/t Au over 2.45m in hole NFGC-21-196 and 23.8g/t Au over 5.10m in NFGC-21-189 occur above the primary dilative corridor of the Keats Fault Zone which still yields significant gold mineralization.
Keats North
Drill holes NFGC-21-98 and NFGC-21-108 were drilled on a fence line approximately 200m north of the main Keats discovery (see Figure 3). Highlight intervals include:
Keats North - Highlight intervals (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The Company believes that Hole NFGC-21-108 intersected the primary Keats Baseline fault structure. Additional drilling is planned to further test the structure in this area.
Cokes
The Cokes target is on the west side of the Appleton fault approximately 300m from the main Keats Zone, which is being drilled on the east side of the Appleton fault. Highlight intervals include:
Cokes - Highlight intervals (CNW Group/New Found Gold Corp.)
**Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Notable in the drilling at the Cokes target is a pervasive alteration sequence, several brittle and ductile structural elements and higher sulphide content representing a different style of mineralization from the Keats but suggestive that a robust mineral system has developed on the west side of the Appleton Fault.
Golden Joint to Lotto Corridor
Target locations and recent results the from Golden Joint to Lotto corridor are summarized in Figure 5 below.
Figure 5. Golden Joint to Lotto Corridor Plan Map (CNW Group/New Found Gold Corp.)
Figure 5. Golden Joint to Lotto Corridor Plan Map
**Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Golden Joint & Golden Joint HW
New Found recently reported results from the Golden Joint discovery with the following highlights (see New Found's June 29, 2021, news release):
Golden Joint & Golden Joint HW (CNW Group/New Found Gold Corp.)
**Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The high-grade discovery interval of 430.2g/t Au over 5.25m was intersected within a newly discovered gold zone along the hanging wall of the Appleton Fault.
Based on the recent drilling, New Found's current interpretation is that the Lotto Baseline Fault extends approximately 1km from the Lotto area to the Golden Joint area (see Figure 5). The vein systems in the Golden Joint appear to occur near the confluence ("joint") of the Lotto Baseline and Appleton Faults, but controls on the high-grade gold mineralization at Golden Joint are currently unclear.
Results from the parallel Golden Joint Hanging Wall Zone have also included several significant intervals with highlights including:
Results from the parallel Golden Joint Hanging Wall Zone have also included several significant intervals with highlights (CNW Group/New Found Gold Corp.)
**Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Road
Highlight results from holes drilled into the Road target are summarized below.
Highlight results from holes drilled into the Road target (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The Road target is exposed at surface and is the furthest east of the Appleton fault where significant gold mineralization has been found to date but may be related to extensions of the Lotto Zone 550m to the northwest.
Drill hole NFGC-20-71 returned three mineralized vein zones with results including 35.4g/t Au over 2.70m and 9.1g/t Au over 2.95m.
The presence of quartz breccia veins in a separate NW trending fault corridor are suggestive of a similar style of emplacement and mineralogy to the nearby Keats and Lotto Zones.
Dome
Highlight results from Dome are summarized below.
Highlight results from Dome (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Further drilling is being planned at Dome to follow up on these results, again targeting higher-grade epizonal style gold mineralization.
Lotto and Sunday
New Found recently reported results from the Lotto discovery with the following highlights (see New Found's June 23, 2021, news release):
Lotto and Sunday (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The interval 683.1g/t Au over 2.45m within 150.3 g/t Au over 11.5m in NFGC-21-201 is the best result to date from the main Lotto discovery and step-out drilling from this interval is now underway (see Figure 6).
The high-grade intervals reported to date occur in an interpreted north-south striking vein set, one of a network of multiple secondary north-south striking vein sets interpreted to date over a 300m x 200m area which remains open in all directions.
The Company continues to test multiple additional targets at Lotto outside of the initial vein target, including follow up drilling on the Sunday Zone interval of 38.7g/t over 2.95m interpreted to be located in the hanging wall of the main Appleton Fault.
Figure 6. Lotto Cross Section (CNW Group/New Found Gold Corp.)
Figure 6. Lotto Cross Section
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Other Appleton Fault Zone Target Areas
Zone 36
Surface trenching in 2020 along an area of high Au soil values resulted in the discovery of Zone 36, approximately 700m north of Lotto on the west side of the Appleton Fault (see Figure 7 below).
Zone 36 is represented by two parallel northwest trending veins and a third more prominent sub-parallel vein system showing areas of brecciation and was exposed along surface for 140m along strike.
The presence of vuggy quartz, antimony sulphosalts, and visible gold is suggestive that it has a similar epizonal style of mineralization to the Keats and Lotto Zones.
Limited surface sampling of the Zone resulted in grab samples up to 47.0 g/t Au and channel samples up to 18.9g/t Au over 1.0m.
Initial drilling of this target is planned for 2021.
Figure 7. Exploration of Zone 36 showing broad quartz veined zone (CNW Group/New Found Gold Corp.)
Figure 7. Exploration of Zone 36 showing broad quartz veined zone
Knob and Grouse
The Knob area was the subject of significant historic drilling by Noranda. Due to winter conditions to date the Company has been unable to safely reach drill pad locations to target the focus of the historic Noranda drilling. Drilling to date by New Found has been peripheral to this target area and has tested for extensions of the historically drilled mineralization, as well as testing additional target zones. Highlight of drill results to date include:
Knob and Grouse (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The Knob and Grouse Zones are stratigraphically controlled to a coarse greywacke/conglomerate unit and the Company successfully extended the known extents of this unit along strike intersecting visible gold mineralization in several holes including NFGC-21-159 which intercepted 8.78g/t Au over 2.0m, 200m south of the Knob Zone within the coarse-grained unit.
Further surface exploration is planned for the 2021 field season to better refine the geology of this region with the goal of generating new drill targets as significant potential exists.
Drillhole Details
Keats Main and Keats FW
Drillhole Details - Keats Main and Keats FW (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Drillhole Details - Keats Main and Keats FW (CNW Group/New Found Gold Corp.)
Keats North
Drillhole Details - Keats North (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Drillhole Details - Keats North (CNW Group/New Found Gold Corp.)
Cokes
Drillhole Details - Cokes (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Drillhole Details - Cokes (CNW Group/New Found Gold Corp.)
Lotto
Drillhole Details - Lotto (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Drillhole Details - Lotto (CNW Group/New Found Gold Corp.)
Dome
Drillhole Details - Dome (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Drillhole Details - Dome (CNW Group/New Found Gold Corp.)
Road
Drillhole Details - Road (CNW Group/New Found Gold Corp.)
*Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Drillhole Details - Road (CNW Group/New Found Gold Corp.)
Knob
Drillhole Details - Knob (CNW Group/New Found Gold Corp.)
Note that the host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Drillhole Details - Knob (CNW Group/New Found Gold Corp.)
200,000m Drill Campaign Update
A total of 267 holes totalling approximately 61,700m of drilling has been completed to date, representing approximately 31% of the planned 200,000m program. Results for 150 holes totalling approximately 34,200m have been received and reported to date. Eight rigs are currently turning, with a ninth on site and tenth to arrive by Q3 2021.
NYSE American Listing Update
New Found has been cleared to apply to list its common shares on the NYSE American. The Company expects to commence trading on the NYSE American in early Q3 2021 upon receipt of final approval from the SEC and the NYSE American.
Sampling, Sub-sampling, and Laboratory
Host structures along the Appleton Fault Zone are generally interpreted to be steeply dipping and true widths are estimated to be 85% to 95% of reported widths at Keats, 80% to 90% at Lotto, 70% to 90% at Golden Joint, 65% to 75% at Dome, unknown at Cokes, 85% to 95% at Road, unknown at Little-Powerline, and unknown at Knob. In some areas 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 calculated intervals are reported over a minimum length of 2m using a lower cut-off of 1.0 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. 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 National Instrument 43-101 and 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 5% of sample pulps are sent to secondary laboratories for check assays.
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 July 6, 2021, 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 200,000m drill program at Queensway. Eight rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by Q3 2021. With a current working capital balance of approximately $80 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
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 further exploration and drilling on the Company's Queensway gold project in Newfoundland; interpretation of results of the drilling program and funding of the drilling program; future discoveries of high-grade gold mineralization; the merits of the Queensway project; and the listing of the Company's common shares on the NYSE American and the timing related thereto. 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," "target," "suggestive," "probability," "appear," "pursuit," "potential," "goal," "objective," "prospective," 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, 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, uncertainties related to the listing on the NYSE American, 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.
New Found Provides Appleton Fault Zone
Exploration Update (CNW Group/New Found Gold Corp.)
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/new-found-provides-appleton-fault-zone-exploration-update-301325846.html
SOURCE New Found Gold Corp.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/06/c5328.html
SKYG.v $SRKZF neighbour Amex (AMX.v $AMXEF) Amex Drills Highest Grade Assay at Perron - Reports 79.22 g/t Gold over 6.15 Metres Including 929.24 g/t Gold over 0.50 Metres at the High Grade Zone of Perron
by @accesswire on 28 Jun 2021, 00:00
HGZ Highlights - Near Surface
79.22 g/t Au over 6.15 metres , including 929.24 g/t Au over 0.50 metres, for a metal factor of 487 at a vertical depth of approximately 290 metres in hole PE-21-344
HGZ Highlights - At Depth
15.04 g/t Au over 4.10 metres , including 70.27 g/t Au over 0.50 metres and 42.58 g/t Au over 0.50 metres, for a metal factor of 62 at a vertical depth of approximately 720 metres in hole PE-21-286W2
MONTREAL, QC / ACCESSWIRE / June 28, 2021 / Amex Exploration Inc. ("Amex or the Company") (TSX-V:AMX)(FRA:MX0)(OTCQX:AMXEF) is pleased to report additional drill results focused on definition and expansion drilling of the High Grade Zone ("HGZ") of the Eastern Gold Zone ("EGZ") on the Perron Gold Project, Quebec. See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones .
Jacques Trottier, PhD Executive Chairman of Amex said, "Today's results are exciting for two specific reasons. Firstly, this is the highest individual assay grade ever reported on the property, 929.24 g/t Au over 0.50 metres, which was reported in hole PE-21-344. Secondly, hole PE-21-344 expands on the >100 gram-meter Metal Factor contour in the upper portion of the HGZ as shown in Figure 1 . This indicates that there is potentially much more of the ultra high grade mineralization in the HGZ, even in areas that appeared to be lower grade based on earlier drill holes."
Today's results are focused on definition drilling of the High Grade Zone as the Company works towards its maiden resource on the Perron Project. A complete list of results are available in Table 1 and presented in Figure 2 . See Figure 2 for the location of the pending holes as well as those containing visible gold at the HGZ.
Figure 1: Plan Map of the Eastern Gold Zone that encompasses Denise and HGZ.
Figure 2: Longitudinal section of the High Grade Zone looking South, with today's results labelled in green.
Figure 3: Visible gold in reported hole PE-21-344
Table 1: Assay Results from the High Grade Zone at Perron
Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
Zone
Vertical Depth (m)
PE-20-163W1
659.85
662.45
2.60
3.28
HGZ
~610 m
Including
660.60
661.25
0.65
7.74
PE-21-286W2
816.40
820.50
4.10
15.04
HGZ
~720 m
Including
818.90
819.40
0.50
42.58
Including
819.40
819.90
0.50
70.27
PE-21-344
320.80
326.95
6.15
79.22
HGZ
~290 m
Including
320.80
321.50
0.70
26.94
Including
325.65
326.15
0.50
929.24
*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~70-80% in HGZ.
Qualified Person
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have 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 Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.
About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209
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. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
SOURCE: Amex Exploration, Inc.
View source version on accesswire.com:
https://www.accesswire.com/653254/Amex-Drills-Highest-Grade-Assay-at-Perron--Reports-7922-gt-Gold-over-615-Metres-Including-92924-gt-Gold-over-050-Metres-at-the-High-Grade-Zone-of-Perron