Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
GLM.ca $GOLXF Golden Lake Reports "26.37 Meters Averaging 5.38 G/T Gold" From New Target at The Hamburg Mine Zone, Jewel Ridge Project, Nevada
by @accesswire on 23 Mar 2022, 05:02
VANCOUVER, BC / ACCESSWIRE / March 23, 2022 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") (GOLXF-OTCQB) is pleased to report on its first diamond drill hole of the 2022 field season, located at the Hamburg Mine Target, on the Company's keystone Jewel Ridge project, located in the prolific Eureka gold district, Nevada. Hole JR-22-36DD returned a very significant intercept of 26.37 meters averaging 5.38 grams gold per tonne (g/t Au) from a shallow depth of 42.64 meters.
Highlights of this hole include:
The above intercept is part of a much wider interval of mineralization that returned 67.57 meters averaging 2.37 g/t Au, from a depth of 42.64 meters,
These intercepts in hole JR-22-36DD represent the highest gold grades ever drilled on the Hamburg target. The best previous historic hole on the Hamburg target was HRC11, which returned 2.01 g/t AU over 41.1 meters from a depth of 94.5 meters.
The Hamburg target is approximately 1.8 kilometers South-Southeast of the Eureka Tunnel target, where the Company was actively exploring throughout most of 2021.
At the Hamburg Mine, historic gold production from the underground and open pit workings, and previous exploration activities had focused on oxide gold mineralization in the Hamburg Dolomite unit, and/or at the contact of the Hamburg Dolomite with the Dunderberg Shale.
However, the high-grade mineralization in hole JR-22-36DD, occurs within the Dunderberg Shale horizons, associated with silicification and sulfidation, and with frequent and vivid arsenic sulfide minerals, orpiment and realgar (see photos). The Dunderberg Shale represents an attractive new geologic target that has seen little exploration focus, in addition to the known oxide gold mineralization in the altered, oxidized dolomite breccias of the Hamburg Dolomite. The prospective Hamburg Dolomite - Dunderberg Shale contact is projected to extend the entire 3.5-kilometer length of the Jewel Ridge property.
Silver and base metals assays are still pending, which typically take longer to analyze, and will be reported when received.
Holes JR-22-37DD, and JR-22-38DD have been completed on the Hamburg Mine target and are located approximately 225 meters South-Southeast of Hole JR-22-36DD. Assays are pending on these holes.
ChartDescription automatically generated
Mike England, CEO, said, "The discovery of high-grade gold mineralization at the Hamburg Mine zone, in a new geological target, is further indication of the excellent potential of the Jewel Ridge project. We await the base metals and silver values from hole JR-22-36DD which are sure to add value to the impressive intercept received to date. Congratulations and appreciation to our team of geologists and project managers."
Drilling Quality assurance and quality control statement
Procedures have been implemented to assure QA/QC of drill hole assaying being done at an ISO accredited assay laboratory. All intervals of drill holes are being assayed and samples have been securely shipped and received by ALS Labs in Reno, Nevada, with chain-of-custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence. All results will be analyzed for consistency.
DRILL HOLE JR-22-36DD CORE PHOTOS
A picture containing text, stacked, shelf, stackDescription automatically generatedA picture containing text, stacked, stack, pileDescription automatically generatedA picture containing personDescription automatically generatedMapDescription automatically generated
About the Jewel Ridge Property
The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company's focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company's property.
Qualified person
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property. The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain-Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south. The Company also owns a large (37.814 hectare) early-stage property in south-central British Columbia, contiguous to Kodiak Copper Corp., and Gold Mountain Mining Inc., that is highly prospective for copper-gold porphyry and mesothermal gold-bearing quartz-vein mineralization.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE
CONTACT: Telephone: 1-604-683-3995
TollFree:1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Golden Lake Exploration Inc.
View source version on accesswire.com:
https://www.accesswire.com/694306/Golden-Lake-Reports-2637-Meters-Averaging-538-GT-Gold-From-New-Target-at-The-Hamburg-Mine-Zone-Jewel-Ridge-Project-Nevada
ILI.v $ARXRF holding TGM.v $TGLDF Trillium Gold Reports High-Grade Gold Values Over Significant Strike Lengths From Surface Channel Sampling at Rivard
by @nasdaq on 22 Mar 2022, 04:10
Consecutive high-grade samples in multiple channels include:
7 metres of 60.2 g/t Au, 6.6 metres of 12.5 g/t Au and 7 metres of 8.9 g/t Au at the VG1, VG2 and RV21-34 outcrops
VANCOUVER, British Columbia, March 22, 2022 (GLOBE NEWSWIRE) -- Trillium Gold Mines Inc. (TSXV: TGM) (OTCQX:TGLDF) (FRA:0702) (“Trillium Gold” or the "Company") is pleased to report results of surface channel sampling and mapping at the Rivard Property, the southwest portion of the Company’s 100%-owned Newman Todd Complex located 26 km from Evolution Mining’s Red Lake Operations in Ontario.
Visible gold(1) is observed in quartz veins in drill holes and in outcrops and trenches across the 90 hectare property. Alteration and wide-spread gold mineralization occur extensively within structurally and chemically favorable rocks. Historically, the Rivard Property contains both visible gold in narrow high-grade veins as well as in broader zones of lower grade gold mineralization ranging from <1 g/t Au to over 560 g/t Au (see news release dated June 29, 2021 – New Discovery Hole at Rivard Confirms High Grade Visible Gold with 129.79 g/t over 1.30 metres).
The channel sampling has shown that the gold values are not confined to small areas within the veins but occur over significant strike lengths along the veins. The absence of gold in a small drill core intersection does not diminish the gold endowment of the greater vein system. The table below shows the highlights of the channel sampling.
Location Channel Sampling
Length (m) Average
Grade (g/t Au)
VG1 VG1-C1 7 60.2
VG1-C2 6 33.8
VG1-C3 6 14.8
VG2 VG2-C1 6.6 12.5
RV21-34 RV21-34 C6 4 3.2
RV21-34 C7 7 8.9
RV21-34 C8 1.9 11.1
Table 1: Highlights of channel sampling on the Rivard property.
William Paterson, Trillium Gold’s Vice President of Exploration and former Exploration Superintendent for Goldcorp’s Red Lake Gold Mines added, “Understanding both the controls and the geometry of the high-grade mineralization seen on surface and intersected in drilling on Rivard is vitally important to the expansion of the overall system. We have shown that this vein system is influenced by the east-west structures evident in the NT Zone and our work gives us information on how to explore for and increase our success in delineating the high-grade shoots.”
(1) Visible Gold (VG) references are factual observations and should not be construed as quantifiable grade
Figure 1: Location of washed outcrops and channel sampling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d8f56f8b-8e06-497e-815a-4a3bd81b0b42
The program of outcrop washing and channel sampling focused on the Rivard (RV) veins in areas of shallow cover. The areas were chosen from reconnaissance mapping with potential for expanding our understanding of the association of the gold grades and structures, such as veining and sheared vein sections identified from mapping and core logging. Other areas were chosen from unsampled, but previously identified known gold occurrences, such as the VG1 and VG2 areas known to have visible gold (VG) at surface.
Once cleaned off, the outcrops were mapped and the information transferred to high-resolution geo-referenced photos taken by drone. Channel samples were marked out and cut using a rock-saw.
The Rusty Can and Access outcrops located at the southeast corner of the property were identified as good areas for stripping and channel sampling, being in areas of minimal to no outcropping over-top of the NT zone, where it cuts through the corner of the property.
These areas both showed a correlation of elevated assay results in cross-cutting RV-style veining and east-west trending veining. In addition, both areas increase our understanding of the attitude of the contacts and geometries of the NT Zone, including the embayed/fault contact on the west side of the Rusty Can area, and offsets along east-west and Azi 140° trending shears.
The highest-grade portions of the veins (specifically in the VG1, VG2 and RV21-34 outcrops) show an association of the RV-style veining and narrow east-west sheared sections (see Figures 2 and 3). The conclusion drawn is that the higher gold assays are broadly associated with areas of intersection between the RV-style veining and the east-west structures, as pipe-like trends.
It has also been noted, in the mapping of the VG1, 2, & RV21-34 areas, that the veining trends associated with the higher-grade assays are slightly rotated (110° to <135° Azi relative to the regional RV-style vein orientation of ~140° Azi) in areas nearest the narrow east-west shears. Reviewing the drilling data with the revised plunge/pipe trends will assist in refining our interpretation of the higher-grade mineralization in the greater project area.
Figure 2: Outcrops VG1 and VG2 showing geology, channel sample locations and assay results.
https://www.globenewswire.com/NewsRoom/AttachmentNg/5411306e-dd5e-4086-b7ef-6a9fe23d0be1
Figure 3: Aerial photo of the RV21-34 outcrop showing geology, channel sample locations and assay results.
https://www.globenewswire.com/NewsRoom/AttachmentNg/824da595-e64e-4054-812f-272b236409e9
Outcrop images and a full listing of results for the channel sampling are available on Trillium’s website (www.trilliumgold.com).
All the areas mapped and sampled have increased the understanding of the Rivard property through the lithology, vein, and structural features seen and measured, and will assist in refining future exploration and mineralization models of the property.
The technical information presented in this news release has been reviewed and approved by William Paterson QP, PGeo, VP of Exploration of Trillium Gold Mines., as defined by NI 43-101.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr
Chairman, President & CEO
For further information, please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at dyoshimatsu@trilliumgold.com, (416) 722-2456, or info@trilliumgold.com.
Visit our website at www.trilliumgold.com.
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled the largest prospective land package in and around the Red Lake mining district in proximity to major mines and deposits, as well as the Confederation Lake and Birch-Uchi greenstone belts. Recent examples are the acquisition of the Willis property southwest of and contiguous to the Newman Todd complex, and a definitive agreement giving the Company control over a significant portion of the Confederation Lake Greenstone Belt to more than 100 km in length. In addition, the Company has interests in highly prospective properties in Larder Lake, Ontario.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary note regarding forward-looking statements
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations.
Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Primary Logo
Figure 1
Location of washed outcrops and channel sampling.
Figure 2
Outcrops VG1 and VG2 showing geology, channel sample locations and assay results.
Figure 3
Aerial photo of the RV21-34 outcrop showing geology, channel sample locations and assay results.
ILI.v $ARXRF Imagine Lithium Signs Exploration Agreement with First Nations and Expands Land Package at Jackpot Lithium Project
by @newsfile on 21 Mar 2022, 04:01
Vancouver, British Columbia--(Newsfile Corp. - March 21, 2022) - IMAGINE LITHIUM (TSXV: ILI) (OTCQB: ARXRF) ("ILI" or the "Company") is pleased to announce that it has signed a field exploration agreement (the "Agreement") with Bingwi Neyaashi Anishinaabek, Biinjitiwaabik Zaaging Anishinaabek and Red Rock Indian Band (the "First Nations Groups") setting out a framework for Imagine Lithium's consultation and accommodation activities with the First Nations Groups in connection with exploration activities at the Jackpot Lithium Project near Thunder Bay, Ontario.
J. C. St-Amour, President and CEO of Imagine Lithium said, "In keeping with Imagine Lithium's ESG goals, the agreement contemplates a mutual working relationship that includes respect for the environment and First Nation traditional knowledge, First Nation opportunities for employment, education and training (including education support for First Nations students studying in a mining related field), and community meetings and activities. Our exploration program at Imagine Lithium is underway and we seek to create value for all our important stakeholders as we move the Jackpot Lithium Project forward."
St-Amour continued, "Never has there been a better time to be involved in lithium exploration in Ontario, with the Provincial government unveiling its first ever critical minerals strategy that aims to position Ontario as a global leader in the supply chain of critical minerals and outlines a made-in-Ontario electric vehicle supply chain strategy. Our goal this year is to aggressively drill, define and expand the known lithium mineralized areas while making new lithium discoveries on this vast property in Ontario. Our current program is well funded and we are currently drilling on the property."
Under the terms of the Agreement, Imagine Lithium has agreed to, among other things, grant an aggregate of 3,000,000 common share purchase warrants ("Warrants") to the First Nations Groups, with each First Nations Group receiving 1,000,000 Warrants. Each Warrant will entitle the holder thereof to purchase one common share in the capital of the Company (a "Warrant Share") at an exercise price of $0.11 per Warrant Share for a period of five years following the date of issuance of such Warrant.
Exploration Update
The 3,000 m drill program at the Jackpot property is underway on targets in and around the Main Dike Swarm as well as along strike to the east and to the west (see Figure 1). In addition, core from four previously unsampled drill holes have been sent to the lab for analysis. The company will provide updates as information from the drill rig and assay results become available.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2962/117433_903c8813e4678992_002.jpg
Figure 1: Drill Targets at the Jackpot Lithium Project
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2962/117433_903c8813e4678992_002full.jpg
Furthermore, the Company also announces the issuance of 8,000 common shares to a third party for the purchase of additional ground within the Jackpot project area.
The grant of the Warrants and common shares remains subject to, among other things, acceptance of the TSX Venture Exchange (the "TSX-V").
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.
ABOUT IMAGINE LITHIUM INC.
Imagine Lithium Inc. is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ontario, which contains known pegmatite showings, including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O*. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ontario.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
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
Email: jc@imaginelithium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117433
SKYG.v $SRKZF Newfoundland neighbour out with a completely new zone and set of great results...
New Found Intercepts 31.88 g/t Au Over 2.05m & 25.4 g/t Au Over 2.25m at New Gold Discoveries on the JBP Fault Zone ~10km NE of the Keats/Golden Joint/Lotto Discoveries
by @businesswire on 9 Mar 2022, 03:00
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 51 diamond drill holes designed to test for epizonal style high-grade gold mineralization along the JBP Fault Zone (‘JBPFZ’). These holes were drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway project located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220309005419/en/
Figure 1. Queensway North regional plan view (Note extent of gold mineralization over 12.4km from limited drilling and surface sampling correlated to the JBP corridor) (Graphic: Business Wire)
Figure 1. Queensway North regional plan view (Note extent of gold mineralization over 12.4km from limited drilling and surface sampling correlated to the JBP corridor) (Graphic: Business Wire)
Highlights
The JBPFZ is interpreted to consist of a network of NE-trending, steeply dipping, regional-scale, gold bearing shear zones that extend for +100km of strike parallel to and approximately 5km east of the Appleton Fault Zone (‘AFZ’). Reconnaissance diamond drilling completed to date has focused on a +3.5km segment of the JBPFZ that encompasses the 1744 and Pocket Pond target areas (Figure 1).
Historic field work covering the JBPFZ corridor identified several very high-grade gold quartz float boulders (Figure 5) with textures and mineralization styles interpreted to be of epizonal origin and characteristic of the Keats/Golden Joint/Lotto discoveries along the AFZ (Figure 1) in addition to strong Au-in-till anomalies including one sample containing 1744 gold grains at the 1744 Zone. Drilling is targeting possible sources of these high-grade boulders and gold-in-till anomalies.
Recent drilling intersected several near surface high-grade gold occurrences in the 1744 and Pocket Pond target areas. Highlights from this drilling are provided in Table 1 and include the intercepts of 31.88 g/t Au over 2.05m in NFGC-21-180 and 25.40 g/t Au over 2.25m in NFGC-21-304 and are interpreted to be epizonal style high-grade gold mineralization (Figures 1, 2, 3, 4, and 6).
This drilling was designed to test initial target concepts over a large area, a +3.5km long domain of the JBPFZ that is up to 1km wide (Figure 1). While 51 holes have been reported here, drilling to date has only tested a small portion of this 3.5km long fault segment. The Company is very encouraged by the success rate in intercepting high-grade gold mineralization from this initial reconnaissance drilling. Ongoing exploration drilling will focus on stepping out from significant intervals of gold mineralization in addition to testing high-grade gold epizonal targets over large tracts of the JBPFZ corridor.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-180
32.00
34.05
2.05
31.88
1744
NFGC-21-195
283.70
286.50
2.80
16.66
1744
NFGC-21-202
145.85
147.90
2.05
17.10
1744
NFGC-21-207
60.00
66.00
6.00
8.66
1744
Including
63.55
66.00
2.45
19.66
NFGC-21-230
87.00
89.00
2.00
8.92
Pocket Pond
NFGC-21-245
152.60
154.80
2.20
7.26
Pocket Pond
NFGC-21-304
81.60
83.85
2.25
25.40
Pocket Pond
And
90.50
96.35
5.85
5.46
Including
90.50
93.85
3.35
8.94
Table 1: 1744 and Pocket Pond Drilling Highlights
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 75% to 90% of reported intervals for Pocket Pond and 55% to 65% of reported intervals for 1744. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Melissa Render, P.Geo., VP Exploration for New Found, stated: “To date our drilling at Queensway has focused on the Appleton Fault Zone and has delivered outstanding results including high-grade discoveries at the Keats, Golden Joint and Lotto zones. As our understanding improves regarding the likely genesis of epizonal high-grade gold mineralization at the Appleton discoveries, the occurrence of boulders (Figure 5) displaying similar characteristics and very strong Au-in-till anomalies along the JBPFZ is highly encouraging, indicating excellent potential for discovery along this +100km long trend. Historic work has demonstrated widespread gold mineralization within the JBPFZ corridor which is interpreted to consist of a network of regional-scale gold-bearing shear zones. Characteristic of orogenic gold systems and similar to mineralization controls along the AFZ, our working concept is that high-grade epizonal style gold mineralization would be hosted in focused areas along the JBPFZ.
In 2019, our initial drill program concentrated on a short segment of the JPBFZ encompassing H-Pond and 1744 target areas and consisted of six diamond drill holes which returned very promising intercepts such as 6.73 g/t Au over 3.0m in NFGC-19-05 and 17.45 g/t Au over 2.0m in NFGC-19-09 (Figure 3). In late 2021, follow-up drilling commenced testing new targets along a broad expanse of the JBPFZ including 1744 and Pocket Pond target areas (Figure 1). This drilling has returned intervals of high-grade, near surface, epizonal style gold mineralization, with results including 31.88 g/t Au over 2.05m in hole NFGC-21-180 in the 1744 area (Figures 3 and 4). Ongoing drilling at JBP will step-out and continue to test around these high-grade intervals. We are excited that work at JBP is affirming the discovery potential for high-grade epizonal style mineralization similar to what we have encountered in our more advanced work along the AFZ. Our ramp up to 14 drills will give us flexibility to aggressively explore the full approximately 12.4km corridor of prospective strike along JBP on Queensway North."
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-150
67.00
69.00
2.00
3.83
1744
NFGC-21-155
30.00
32.00
2.00
1.56
1744
And
146.00
148.00
2.00
1.98
1744
NFGC-21-158
162.90
165.20
2.30
3.54
1744
NFGC-21-167
9.50
11.50
2.00
1.24
1744
NFGC-21-175
NSV
1744
NFGC-21-176
145.15
147.15
2.00
4.72
1744
And
164.35
167.00
2.65
1.30
NFGC-21-179
NSV
1744
NFGC-21-180
32.00
34.05
2.05
31.88
1744
NFGC-21-183
37.00
39.00
2.00
2.55
1744
NFGC-21-185
197.00
199.10
2.10
1.38
1744
And
313.40
315.85
2.45
1.31
NFGC-21-186
NSV
1744
NFGC-21-191
NSV
1744
NFGC-21-192
46.65
48.65
2.00
1.12
1744
NFGC-21-195
283.70
286.50
2.80
16.66
1744
NFGC-21-202
145.85
147.90
2.05
17.10
1744
And
189.00
191.00
2.00
3.44
And
194.00
196.00
2.00
1.51
And
202.80
205.00
2.20
1.38
NFGC-21-207
43.55
46.10
2.55
3.33
1744
And
60.00
66.00
6.00
8.66
Including
63.55
66.00
2.45
19.66
And
263.00
265.00
2.00
1.01
NFGC-21-221
287.50
289.50
2.00
4.09
1744
NFGC-21-232
277.00
279.00
2.00
2.00
1744
NFGC-21-452
320.50
322.70
2.20
2.21
1744
And
324.60
326.75
2.15
2.98
And
337.30
339.30
2.00
6.82
And
372.30
374.45
2.15
4.30
Table 2: Summary of results reported in this release for 1744 Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 55% to 65% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. 2Assays have been previously reported.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-210
46.00
48.00
2.00
1.20
Pocket Pond
NFGC-21-214
18.50
20.85
2.35
6.33
Pocket Pond
NFGC-21-218
NSV
Pocket Pond
NFGC-21-220
80.00
82.00
2.00
2.14
Pocket Pond
And
109.00
111.00
2.00
6.03
NFGC-21-226
NSV
Pocket Pond
NFGC-21-230
87.00
89.00
2.00
8.92
Pocket Pond
And
95.65
97.65
2.00
2.08
Pocket Pond
NFGC-21-235A
100.40
102.60
2.20
1.06
Pocket Pond
NFGC-21-239
196.00
198.85
2.85
3.77
Pocket Pond
NFGC-21-245
152.60
154.80
2.20
7.26
Pocket Pond
And
161.55
163.55
2.00
4.27
And
167.40
169.40
2.00
1.49
NFGC-21-253
NSV
Pocket Pond
NFGC-21-258
NSV
Pocket Pond
NFGC-21-261
NSV
Pocket Pond
NFGC-21-267
51.00
53.00
2.00
1.59
Pocket Pond
NFGC-21-273
NSV
Pocket Pond
NFGC-21-276
NSV
Pocket Pond
NFGC-21-279
191.00
193.10
2.10
1.16
Pocket Pond
NFGC-21-286
NSV
Pocket Pond
NFGC-21-291
NSV
Pocket Pond
NFGC-21-299
95.90
98.00
2.10
1.69
Pocket Pond
NFGC-21-304
81.60
83.85
2.25
25.40
Pocket Pond
And
90.50
96.35
5.85
5.46
Including
90.50
93.85
3.35
8.94
NFGC-21-309
NSV
Pocket Pond
NFGC-21-313
NSV
Pocket Pond
NFGC-21-316
124.10
126.40
2.30
2.26
Pocket Pond
NFGC-21-325
NSV
Pocket Pond
NFGC-21-331
NSV
Pocket Pond
NFGC-21-334
NSV
Pocket Pond
NFGC-21-340
292.40
294.50
2.10
2.19
Pocket Pond
NFGC-21-347
NSV
Pocket Pond
NFGC-21-362
114.00
116.00
2.00
1.84
Pocket Pond
And
123.40
128.20
4.80
1.92
NFGC-21-366A
NSV
Pocket Pond
NFGC-21-377
83.60
87.95
4.35
2.54
Pocket Pond
NFGC-21-381
NSV
Pocket Pond
Table 3: Summary of results reported in this release for Pocket Pond Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 75% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.2Assays have been previously reported
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-150
300
-45
230
665135
5430889
NFGC-21-155
300
-45
263
665202
5430908
NFGC-21-158
300
-45
287
665305
5430936
NFGC-21-167
300
-45
230
665274
5430982
NFGC-21-175
300
-45
191
665158
5430934
NFGC-21-176
300
-45
224
665320
5431013
NFGC-21-179
300
-45
254
665364
5430988
NFGC-21-180
300
-45
245
665204
5430850
NFGC-21-183
300
-45
193
665184
5430977
NFGC-21-185
300
-45
358
665242
5430828
NFGC-21-186
300
-45
260
665130
5430834
NFGC-21-191
300
-45
308
665245
5430884
NFGC-21-192
300
-45
274
665173
5430809
NFGC-21-195
300
-45
304
665267
5430870
NFGC-21-202
300
-45
245
665190
5430887
NFGC-21-207
299
-45.5
341
665232
5430862
NFGC-21-210
120
-45.5
113
663442
5428865
NFGC-21-214
119
-45.5
155
663476
5428873
NFGC-21-218
299
-45.5
179
663407
5428928
NFGC-21-220
120
-45
248
663387
5428869
NFGC-21-221
300
-45
362
665288
5430859
NFGC-21-226
120
-45
161
663408
5428856
NFGC-21-230
119
-45.5
182
663403
5428873
NFGC-21-232
300
-44
300
665278
5430893
NFGC-21-235A
120
-45.5
173
663420
5428877
NFGC-21-239
120
-45
272
663339
5428910
NFGC-21-245
120
-45
251
663365
5428880
NFGC-21-253
120
-45.5
246
663361
5428824
NFGC-21-258
120
-45
239
663348
5428803
NFGC-21-261
120
-45
227
663394
5428834
NFGC-21-267
120
-45
272
663416
5428821
NFGC-21-273
121
-45.5
251
663374
5428862
NFGC-21-276
121
-45.5
197
663358
5428854
NFGC-21-279
120
-45
239
663313
5428890
NFGC-21-286
120
-45
278
663282
5428897
NFGC-21-291
120
-45
266
663322
5428859
NFGC-21-299
121
-45.5
131
663454
5428886
NFGC-21-304
121
-45.5
182
663432
5428898
NFGC-21-309
121
-45.5
224
663351
5428931
NFGC-21-313
120
-45
194
663303
5428672
NFGC-21-316
120
-45
167
663269
5428683
NFGC-21-325
120
-45
242
663398
5428886
NFGC-21-331
121
-45.5
236
663373
5428903
NFGC-21-334
121
-45.5
365
663034
5428210
NFGC-21-340
121
-45.5
353
663047
5428232
NFGC-21-347
120
-45
296
663073
5428217
NFGC-21-362
121
-45.5
266
663156
5428464
NFGC-21-366A
120
-45
242
663411
5428912
NFGC-21-377
120
-45
191
663436
5428955
NFGC-21-381
121
-46.5
287
663346
5428949
NFGC-21-452
299
-45
419
665184
5430757
Table 4: Details of drill holes reported in this release
Queensway 400,000m Drill Program Update
Approximately 37% of the planned 400,000m program at Queensway has been drilled to date with approximately 24,900m of the core with pending assay results. Eleven core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 55% to 65% of reported core lengths at 1744 and 75% to 90% at Pocket Pond. 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 3% 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 March 9, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 37% complete. The Company is well funded for this program with a current working capital balance of approximately $116 million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005419/en/
BARU.v $BARUF Baru Gold Continues Exploration of 23 New Structural Study Targets at Rome and Canberra East and Samples Up To 72.0 g/t Gold and 97.0 g/t Silver Over 0.15 Meters at Rome Target
by @thenewswire on 9 Mar 2022, 06:31
(TheNewswire)
Baru Gold Corp.
March 9, 2022 – TheNewswire - Vancouver, BC - Baru Gold Corp (TSXV:BARU) | (OTC:BARUF) (the “Company” or “Baru”) is pleased to announce that the continuing field analysis of the 23 new exploration targets identified in the structural study has provided promising results.
Initial Field Analysis continued with mapping and sampling of artisanal workings and outcrops found within the Priority 1 Rome Target area. The analysis then progressed to mapping and sampling beyond the eastern boundary of the Priority 1 Canberra Target, which has been named Canberra East.
Assay results of the samples taken from the Rome Target returned an average grade of 42.18g/t gold and 48.42g/t silver. The Rome Target contains samples obtained from strongly oxidised 0.15m and 0.2m wide quartz veins in tuffaceous andesite returning assays ranging from 41.9g/t – 72.0g/t for gold and 5.30g/t – 97.0g/t for silver.
At the Rome Target, the 72.0g/t gold assay was obtained from a tuffaceous andesite containing a 0.15m wide strongly oxidised quartz vein which is shown in Figure 1.
Assay results from the samples taken from within the Canberra East Target returned an average grade of 2.42g/t gold and 5.27g/t silver. The Canberra East samples were obtained from strongly oxidised silica, alunite, pyrite breccia and from strongly oxidised silica clay altered tuffaceous rocks returning assays ranging from 0.31g/t – 5.88g/t for gold and 0.80g/t – 20.70g/t for silver.
These initial sample results from the Priority 1 Rome Target and the Canberra East areas have provided some further ground truthing of the 23 New Exploration Targets defined by the structural study conducted by Murphy Geological Services.
Mr. Frank Rocca, Chief Geologist of Baru, commented, “These are exciting times for the exploration team as we expand our knowledge of the CoW beyond the known Binebase-Bawone deposits and locate these outcrops which could develop into additional ore resources. I look forward to reporting the results of further Field Analysis by the exploration team in due course.”
Click Image To View Full Size
Figure 1. Quartz vein 0.15m wide in situ assayed as 72.0g/t Au & 90.4g/t Ag
Drilling Progress Update
Baru announced a 25,000-meter drilling program to test various targets identified in the Sangihe 2010 National Instrument 43-101 report which identified 835,000 ounces of gold as an inferred resource between Binebase and Bawane villages over 1.2 kilometers. To date the Company has prepared 27 drill pads.
The drill rig arrived on the island on December 20, 2021 and preparations were made to commence drilling immediately. However, due to logistical problems encountered enroute to the site, the drill rig was returned to the drilling contractor. Currently, all but one final component of the drill rig is on-site which will be delivered as soon as suitable transportation is secured.
The Company has met all the requirements of the Indonesian government and has been granted its environmental permit and the upgrade of its licence to advance the Sangihe project to construction and production in 2022. All permits for transportation of the final drill rig component have been secured and the Company is ready to start drilling immediately upon delivery of the final component.
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.
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 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Continues Exploration of 23 New Structural Study Targets at Rome and Canberra East and Samples Up To 72.0 g/t Gold and 97.0 g/t Silver Over 0.15 Meters at Rome Target
by @thenewswire on 9 Mar 2022, 06:31
(TheNewswire)
Baru Gold Corp.
March 9, 2022 – TheNewswire - Vancouver, BC - Baru Gold Corp (TSXV:BARU) | (OTC:BARUF) (the “Company” or “Baru”) is pleased to announce that the continuing field analysis of the 23 new exploration targets identified in the structural study has provided promising results.
Initial Field Analysis continued with mapping and sampling of artisanal workings and outcrops found within the Priority 1 Rome Target area. The analysis then progressed to mapping and sampling beyond the eastern boundary of the Priority 1 Canberra Target, which has been named Canberra East.
Assay results of the samples taken from the Rome Target returned an average grade of 42.18g/t gold and 48.42g/t silver. The Rome Target contains samples obtained from strongly oxidised 0.15m and 0.2m wide quartz veins in tuffaceous andesite returning assays ranging from 41.9g/t – 72.0g/t for gold and 5.30g/t – 97.0g/t for silver.
At the Rome Target, the 72.0g/t gold assay was obtained from a tuffaceous andesite containing a 0.15m wide strongly oxidised quartz vein which is shown in Figure 1.
Assay results from the samples taken from within the Canberra East Target returned an average grade of 2.42g/t gold and 5.27g/t silver. The Canberra East samples were obtained from strongly oxidised silica, alunite, pyrite breccia and from strongly oxidised silica clay altered tuffaceous rocks returning assays ranging from 0.31g/t – 5.88g/t for gold and 0.80g/t – 20.70g/t for silver.
These initial sample results from the Priority 1 Rome Target and the Canberra East areas have provided some further ground truthing of the 23 New Exploration Targets defined by the structural study conducted by Murphy Geological Services.
Mr. Frank Rocca, Chief Geologist of Baru, commented, “These are exciting times for the exploration team as we expand our knowledge of the CoW beyond the known Binebase-Bawone deposits and locate these outcrops which could develop into additional ore resources. I look forward to reporting the results of further Field Analysis by the exploration team in due course.”
Click Image To View Full Size
Figure 1. Quartz vein 0.15m wide in situ assayed as 72.0g/t Au & 90.4g/t Ag
Drilling Progress Update
Baru announced a 25,000-meter drilling program to test various targets identified in the Sangihe 2010 National Instrument 43-101 report which identified 835,000 ounces of gold as an inferred resource between Binebase and Bawane villages over 1.2 kilometers. To date the Company has prepared 27 drill pads.
The drill rig arrived on the island on December 20, 2021 and preparations were made to commence drilling immediately. However, due to logistical problems encountered enroute to the site, the drill rig was returned to the drilling contractor. Currently, all but one final component of the drill rig is on-site which will be delivered as soon as suitable transportation is secured.
The Company has met all the requirements of the Indonesian government and has been granted its environmental permit and the upgrade of its licence to advance the Sangihe project to construction and production in 2022. All permits for transportation of the final drill rig component have been secured and the Company is ready to start drilling immediately upon delivery of the final component.
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.
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 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
SKYG.v $SRKZF Newfoundland neighbour out with a completely new zone and set of great results...
New Found Intercepts 31.88 g/t Au Over 2.05m & 25.4 g/t Au Over 2.25m at New Gold Discoveries on the JBP Fault Zone ~10km NE of the Keats/Golden Joint/Lotto Discoveries
by @businesswire on 9 Mar 2022, 03:00
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 51 diamond drill holes designed to test for epizonal style high-grade gold mineralization along the JBP Fault Zone (‘JBPFZ’). These holes were drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway project located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220309005419/en/
Figure 1. Queensway North regional plan view (Note extent of gold mineralization over 12.4km from limited drilling and surface sampling correlated to the JBP corridor) (Graphic: Business Wire)
Figure 1. Queensway North regional plan view (Note extent of gold mineralization over 12.4km from limited drilling and surface sampling correlated to the JBP corridor) (Graphic: Business Wire)
Highlights
The JBPFZ is interpreted to consist of a network of NE-trending, steeply dipping, regional-scale, gold bearing shear zones that extend for +100km of strike parallel to and approximately 5km east of the Appleton Fault Zone (‘AFZ’). Reconnaissance diamond drilling completed to date has focused on a +3.5km segment of the JBPFZ that encompasses the 1744 and Pocket Pond target areas (Figure 1).
Historic field work covering the JBPFZ corridor identified several very high-grade gold quartz float boulders (Figure 5) with textures and mineralization styles interpreted to be of epizonal origin and characteristic of the Keats/Golden Joint/Lotto discoveries along the AFZ (Figure 1) in addition to strong Au-in-till anomalies including one sample containing 1744 gold grains at the 1744 Zone. Drilling is targeting possible sources of these high-grade boulders and gold-in-till anomalies.
Recent drilling intersected several near surface high-grade gold occurrences in the 1744 and Pocket Pond target areas. Highlights from this drilling are provided in Table 1 and include the intercepts of 31.88 g/t Au over 2.05m in NFGC-21-180 and 25.40 g/t Au over 2.25m in NFGC-21-304 and are interpreted to be epizonal style high-grade gold mineralization (Figures 1, 2, 3, 4, and 6).
This drilling was designed to test initial target concepts over a large area, a +3.5km long domain of the JBPFZ that is up to 1km wide (Figure 1). While 51 holes have been reported here, drilling to date has only tested a small portion of this 3.5km long fault segment. The Company is very encouraged by the success rate in intercepting high-grade gold mineralization from this initial reconnaissance drilling. Ongoing exploration drilling will focus on stepping out from significant intervals of gold mineralization in addition to testing high-grade gold epizonal targets over large tracts of the JBPFZ corridor.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-180
32.00
34.05
2.05
31.88
1744
NFGC-21-195
283.70
286.50
2.80
16.66
1744
NFGC-21-202
145.85
147.90
2.05
17.10
1744
NFGC-21-207
60.00
66.00
6.00
8.66
1744
Including
63.55
66.00
2.45
19.66
NFGC-21-230
87.00
89.00
2.00
8.92
Pocket Pond
NFGC-21-245
152.60
154.80
2.20
7.26
Pocket Pond
NFGC-21-304
81.60
83.85
2.25
25.40
Pocket Pond
And
90.50
96.35
5.85
5.46
Including
90.50
93.85
3.35
8.94
Table 1: 1744 and Pocket Pond Drilling Highlights
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 75% to 90% of reported intervals for Pocket Pond and 55% to 65% of reported intervals for 1744. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Melissa Render, P.Geo., VP Exploration for New Found, stated: “To date our drilling at Queensway has focused on the Appleton Fault Zone and has delivered outstanding results including high-grade discoveries at the Keats, Golden Joint and Lotto zones. As our understanding improves regarding the likely genesis of epizonal high-grade gold mineralization at the Appleton discoveries, the occurrence of boulders (Figure 5) displaying similar characteristics and very strong Au-in-till anomalies along the JBPFZ is highly encouraging, indicating excellent potential for discovery along this +100km long trend. Historic work has demonstrated widespread gold mineralization within the JBPFZ corridor which is interpreted to consist of a network of regional-scale gold-bearing shear zones. Characteristic of orogenic gold systems and similar to mineralization controls along the AFZ, our working concept is that high-grade epizonal style gold mineralization would be hosted in focused areas along the JBPFZ.
In 2019, our initial drill program concentrated on a short segment of the JPBFZ encompassing H-Pond and 1744 target areas and consisted of six diamond drill holes which returned very promising intercepts such as 6.73 g/t Au over 3.0m in NFGC-19-05 and 17.45 g/t Au over 2.0m in NFGC-19-09 (Figure 3). In late 2021, follow-up drilling commenced testing new targets along a broad expanse of the JBPFZ including 1744 and Pocket Pond target areas (Figure 1). This drilling has returned intervals of high-grade, near surface, epizonal style gold mineralization, with results including 31.88 g/t Au over 2.05m in hole NFGC-21-180 in the 1744 area (Figures 3 and 4). Ongoing drilling at JBP will step-out and continue to test around these high-grade intervals. We are excited that work at JBP is affirming the discovery potential for high-grade epizonal style mineralization similar to what we have encountered in our more advanced work along the AFZ. Our ramp up to 14 drills will give us flexibility to aggressively explore the full approximately 12.4km corridor of prospective strike along JBP on Queensway North."
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-150
67.00
69.00
2.00
3.83
1744
NFGC-21-155
30.00
32.00
2.00
1.56
1744
And
146.00
148.00
2.00
1.98
1744
NFGC-21-158
162.90
165.20
2.30
3.54
1744
NFGC-21-167
9.50
11.50
2.00
1.24
1744
NFGC-21-175
NSV
1744
NFGC-21-176
145.15
147.15
2.00
4.72
1744
And
164.35
167.00
2.65
1.30
NFGC-21-179
NSV
1744
NFGC-21-180
32.00
34.05
2.05
31.88
1744
NFGC-21-183
37.00
39.00
2.00
2.55
1744
NFGC-21-185
197.00
199.10
2.10
1.38
1744
And
313.40
315.85
2.45
1.31
NFGC-21-186
NSV
1744
NFGC-21-191
NSV
1744
NFGC-21-192
46.65
48.65
2.00
1.12
1744
NFGC-21-195
283.70
286.50
2.80
16.66
1744
NFGC-21-202
145.85
147.90
2.05
17.10
1744
And
189.00
191.00
2.00
3.44
And
194.00
196.00
2.00
1.51
And
202.80
205.00
2.20
1.38
NFGC-21-207
43.55
46.10
2.55
3.33
1744
And
60.00
66.00
6.00
8.66
Including
63.55
66.00
2.45
19.66
And
263.00
265.00
2.00
1.01
NFGC-21-221
287.50
289.50
2.00
4.09
1744
NFGC-21-232
277.00
279.00
2.00
2.00
1744
NFGC-21-452
320.50
322.70
2.20
2.21
1744
And
324.60
326.75
2.15
2.98
And
337.30
339.30
2.00
6.82
And
372.30
374.45
2.15
4.30
Table 2: Summary of results reported in this release for 1744 Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 55% to 65% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. 2Assays have been previously reported.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-210
46.00
48.00
2.00
1.20
Pocket Pond
NFGC-21-214
18.50
20.85
2.35
6.33
Pocket Pond
NFGC-21-218
NSV
Pocket Pond
NFGC-21-220
80.00
82.00
2.00
2.14
Pocket Pond
And
109.00
111.00
2.00
6.03
NFGC-21-226
NSV
Pocket Pond
NFGC-21-230
87.00
89.00
2.00
8.92
Pocket Pond
And
95.65
97.65
2.00
2.08
Pocket Pond
NFGC-21-235A
100.40
102.60
2.20
1.06
Pocket Pond
NFGC-21-239
196.00
198.85
2.85
3.77
Pocket Pond
NFGC-21-245
152.60
154.80
2.20
7.26
Pocket Pond
And
161.55
163.55
2.00
4.27
And
167.40
169.40
2.00
1.49
NFGC-21-253
NSV
Pocket Pond
NFGC-21-258
NSV
Pocket Pond
NFGC-21-261
NSV
Pocket Pond
NFGC-21-267
51.00
53.00
2.00
1.59
Pocket Pond
NFGC-21-273
NSV
Pocket Pond
NFGC-21-276
NSV
Pocket Pond
NFGC-21-279
191.00
193.10
2.10
1.16
Pocket Pond
NFGC-21-286
NSV
Pocket Pond
NFGC-21-291
NSV
Pocket Pond
NFGC-21-299
95.90
98.00
2.10
1.69
Pocket Pond
NFGC-21-304
81.60
83.85
2.25
25.40
Pocket Pond
And
90.50
96.35
5.85
5.46
Including
90.50
93.85
3.35
8.94
NFGC-21-309
NSV
Pocket Pond
NFGC-21-313
NSV
Pocket Pond
NFGC-21-316
124.10
126.40
2.30
2.26
Pocket Pond
NFGC-21-325
NSV
Pocket Pond
NFGC-21-331
NSV
Pocket Pond
NFGC-21-334
NSV
Pocket Pond
NFGC-21-340
292.40
294.50
2.10
2.19
Pocket Pond
NFGC-21-347
NSV
Pocket Pond
NFGC-21-362
114.00
116.00
2.00
1.84
Pocket Pond
And
123.40
128.20
4.80
1.92
NFGC-21-366A
NSV
Pocket Pond
NFGC-21-377
83.60
87.95
4.35
2.54
Pocket Pond
NFGC-21-381
NSV
Pocket Pond
Table 3: Summary of results reported in this release for Pocket Pond Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 75% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.2Assays have been previously reported
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-150
300
-45
230
665135
5430889
NFGC-21-155
300
-45
263
665202
5430908
NFGC-21-158
300
-45
287
665305
5430936
NFGC-21-167
300
-45
230
665274
5430982
NFGC-21-175
300
-45
191
665158
5430934
NFGC-21-176
300
-45
224
665320
5431013
NFGC-21-179
300
-45
254
665364
5430988
NFGC-21-180
300
-45
245
665204
5430850
NFGC-21-183
300
-45
193
665184
5430977
NFGC-21-185
300
-45
358
665242
5430828
NFGC-21-186
300
-45
260
665130
5430834
NFGC-21-191
300
-45
308
665245
5430884
NFGC-21-192
300
-45
274
665173
5430809
NFGC-21-195
300
-45
304
665267
5430870
NFGC-21-202
300
-45
245
665190
5430887
NFGC-21-207
299
-45.5
341
665232
5430862
NFGC-21-210
120
-45.5
113
663442
5428865
NFGC-21-214
119
-45.5
155
663476
5428873
NFGC-21-218
299
-45.5
179
663407
5428928
NFGC-21-220
120
-45
248
663387
5428869
NFGC-21-221
300
-45
362
665288
5430859
NFGC-21-226
120
-45
161
663408
5428856
NFGC-21-230
119
-45.5
182
663403
5428873
NFGC-21-232
300
-44
300
665278
5430893
NFGC-21-235A
120
-45.5
173
663420
5428877
NFGC-21-239
120
-45
272
663339
5428910
NFGC-21-245
120
-45
251
663365
5428880
NFGC-21-253
120
-45.5
246
663361
5428824
NFGC-21-258
120
-45
239
663348
5428803
NFGC-21-261
120
-45
227
663394
5428834
NFGC-21-267
120
-45
272
663416
5428821
NFGC-21-273
121
-45.5
251
663374
5428862
NFGC-21-276
121
-45.5
197
663358
5428854
NFGC-21-279
120
-45
239
663313
5428890
NFGC-21-286
120
-45
278
663282
5428897
NFGC-21-291
120
-45
266
663322
5428859
NFGC-21-299
121
-45.5
131
663454
5428886
NFGC-21-304
121
-45.5
182
663432
5428898
NFGC-21-309
121
-45.5
224
663351
5428931
NFGC-21-313
120
-45
194
663303
5428672
NFGC-21-316
120
-45
167
663269
5428683
NFGC-21-325
120
-45
242
663398
5428886
NFGC-21-331
121
-45.5
236
663373
5428903
NFGC-21-334
121
-45.5
365
663034
5428210
NFGC-21-340
121
-45.5
353
663047
5428232
NFGC-21-347
120
-45
296
663073
5428217
NFGC-21-362
121
-45.5
266
663156
5428464
NFGC-21-366A
120
-45
242
663411
5428912
NFGC-21-377
120
-45
191
663436
5428955
NFGC-21-381
121
-46.5
287
663346
5428949
NFGC-21-452
299
-45
419
665184
5430757
Table 4: Details of drill holes reported in this release
Queensway 400,000m Drill Program Update
Approximately 37% of the planned 400,000m program at Queensway has been drilled to date with approximately 24,900m of the core with pending assay results. Eleven core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 55% to 65% of reported core lengths at 1744 and 75% to 90% at Pocket Pond. 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 3% 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 March 9, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 37% complete. The Company is well funded for this program with a current working capital balance of approximately $116 million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005419/en/
ILI.v $ARXRF Georgia Lakes neighbour RCK.v out with interesting news...
Rock Tech Lithium Signs Memorandum of Understanding with Romanian Government
by @newswire on 8 Mar 2022, 06:00
Site Selection Process Underway for First Expected Lithium Hydroxide Converter in Eastern Europe
VANCOUVER, BC, March 8, 2022 /CNW/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce the signing of a non-binding Memorandum of Understanding ("MoU") with the Government of Romania. The MoU provides for cooperation and support in the Company's search for a location in Romania for one of the Company's next planned lithium hydroxide converters (the "Converter") and, in the longer term, the construction and operation of such Converter.
Rock Tech believes that a key factor in the site selection process of its second proposed Converter will be access to regional infrastructure, such as transportation links and a rail connection. Rock Tech will seek a close collaboration with authorities, experts, and local partners for all further planning steps.
Following the signing of the MoU, the Company expects to start examining various locations in Romania and elsewhere in Eastern Europe for the site of its proposed Converter, which will further Rock Tech's strategy of building several Converters across Western and Eastern Europe to supply the European electric vehicle industry with high quality lithium hydroxide. The proposed Converter will refine lithium-bearing rock into high-purity lithium hydroxide, which is needed by the electric vehicle industry and its suppliers to manufacture batteries for electric vehicles.
The proposed Converter is expected to produce approximately 24,000 metric tons of lithium hydroxide per year, equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries. With an estimated capital cost of approximately €400 million, the proposed Converter is expected to provide significant and enduring economic benefits, including the direct and indirect creation of more than 500 jobs during its construction and operation.
The MoU establishes a framework meant to address a number of significant factors in the Company's decision-making process, which include:
access to government grants and other financial incentives to support the development of a large scale, commercial cleantech project;
predictable and reasonable permitting and approvals processes and timelines; and
streamlined sharing of information and data for collaboration among project stakeholders.
Rock Tech's Chairman, Dirk Harbecke, and Virgil Popescu, the Minister of Energy for Romania, sign the Memorandum of Understanding (CNW Group/Rock Tech Lithium Inc.)
"We want to initiate the construction and operation of five lithium-hydroxide converters in Europe by 2029 and are grateful for the Government of Romania to support us in finding the ideal location for one of our next converters. It took us almost two years to find and sign our first location in Guben, Brandenburg. To keep our ambitious targets, we plan wisely and long-term. We not only want to invest in Romania, but also build up know-how, create jobs and work closely with local partners," states Dirk Harbecke, Chairman of Rock Tech Lithium.
About Rock Tech Lithium Inc.
Rock Tech Lithium is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high quality lithium hydroxide "made in Germany". As early as 2024, the Company intends to commission Europe's first lithium converter with a nameplate production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
The Company has set itself the goal of creating the world's first closed loop for lithium, thus closing the raw material gap on the road to clean mobility. Rock Tech owns the Georgia Lake Project in Ontario, Canada and, as early as 2030, around 50 percent of the raw materials used are expected to come from the recycling of batteries.
Rock Tech Lithium - The super fuel for the battery age
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
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 this release.
Cautionary Note Concerning Forward-Looking Information
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this press release.
Certain information set forth in this press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its experience and is perception of historical trends. All statements other than statements of historical facts may constitute forward-looking information. Often, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this press release is expressly qualified in its entirety by the cautionary statements referred to in this section.
In particular, this new release contains forward-looking information pertaining to: the features and location of the proposed Converter, including the costs and benefits thereof; statements regarding future plans, estimates, and schedules relating to the Company's Converter strategy; statements regarding future activities undertaken in connection with the MoU; anticipated production of lithium hydroxide and related processing methods; statements and expectations regarding the electric vehicle industry; Rock Tech's planning, approval and decision-making process, including relevant factors taken into consideration by the Company; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's operations and properties.
Forward-looking information contained in this press release is based on certain assumptions, estimates, expectations, analysis and opinions of the Company and in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Such assumptions, estimates and other factors include, among other things: the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products, expected growth, performance and business operations, future commodity prices and exchange rates, prospects, growth opportunities and financing available to the Company, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions, estimates and factors to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the Company's ability to access funding required to invest in available opportunities and projects (including the proposed Converter) and on satisfactory terms, the current and potential adverse impacts of the COVID-19 pandemic and recent geopolitical hostilities, the anticipated benefits of MoU may not be realized; the risk that Rock Tech will not be able to meet its financial obligations as they fall due, changes in commodity and other prices, Rock Tech's ability to attract and retain skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of the proposed Converter, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency, exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties described from time to time in Rock Tech's public disclosure documents available on the Company's SEDAR profile at www.sedar.com, including those discussed under the heading "Financial Instruments and Other Risks" in Rock Tech's most recently filed Management Discussion and Analysis. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forward-looking information.
We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect. Forward-looking information reflects Rock Tech management's views as at the date the information is created. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based.
Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this press release.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/rock-tech-lithium-signs-memorandum-of-understanding-with-romanian-government-301497580.html
SOURCE Rock Tech Lithium Inc.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2022/08/c2865.html
ILI.v $ARXRF Georgia Lakes neighbour RCK.v out with interesting news...
Rock Tech Lithium Signs Memorandum of Understanding with Romanian Government
by @newswire on 8 Mar 2022, 06:00
Site Selection Process Underway for First Expected Lithium Hydroxide Converter in Eastern Europe
VANCOUVER, BC, March 8, 2022 /CNW/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce the signing of a non-binding Memorandum of Understanding ("MoU") with the Government of Romania. The MoU provides for cooperation and support in the Company's search for a location in Romania for one of the Company's next planned lithium hydroxide converters (the "Converter") and, in the longer term, the construction and operation of such Converter.
Rock Tech believes that a key factor in the site selection process of its second proposed Converter will be access to regional infrastructure, such as transportation links and a rail connection. Rock Tech will seek a close collaboration with authorities, experts, and local partners for all further planning steps.
Following the signing of the MoU, the Company expects to start examining various locations in Romania and elsewhere in Eastern Europe for the site of its proposed Converter, which will further Rock Tech's strategy of building several Converters across Western and Eastern Europe to supply the European electric vehicle industry with high quality lithium hydroxide. The proposed Converter will refine lithium-bearing rock into high-purity lithium hydroxide, which is needed by the electric vehicle industry and its suppliers to manufacture batteries for electric vehicles.
The proposed Converter is expected to produce approximately 24,000 metric tons of lithium hydroxide per year, equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries. With an estimated capital cost of approximately €400 million, the proposed Converter is expected to provide significant and enduring economic benefits, including the direct and indirect creation of more than 500 jobs during its construction and operation.
The MoU establishes a framework meant to address a number of significant factors in the Company's decision-making process, which include:
access to government grants and other financial incentives to support the development of a large scale, commercial cleantech project;
predictable and reasonable permitting and approvals processes and timelines; and
streamlined sharing of information and data for collaboration among project stakeholders.
Rock Tech's Chairman, Dirk Harbecke, and Virgil Popescu, the Minister of Energy for Romania, sign the Memorandum of Understanding (CNW Group/Rock Tech Lithium Inc.)
"We want to initiate the construction and operation of five lithium-hydroxide converters in Europe by 2029 and are grateful for the Government of Romania to support us in finding the ideal location for one of our next converters. It took us almost two years to find and sign our first location in Guben, Brandenburg. To keep our ambitious targets, we plan wisely and long-term. We not only want to invest in Romania, but also build up know-how, create jobs and work closely with local partners," states Dirk Harbecke, Chairman of Rock Tech Lithium.
About Rock Tech Lithium Inc.
Rock Tech Lithium is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high quality lithium hydroxide "made in Germany". As early as 2024, the Company intends to commission Europe's first lithium converter with a nameplate production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
The Company has set itself the goal of creating the world's first closed loop for lithium, thus closing the raw material gap on the road to clean mobility. Rock Tech owns the Georgia Lake Project in Ontario, Canada and, as early as 2030, around 50 percent of the raw materials used are expected to come from the recycling of batteries.
Rock Tech Lithium - The super fuel for the battery age
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
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 this release.
Cautionary Note Concerning Forward-Looking Information
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this press release.
Certain information set forth in this press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its experience and is perception of historical trends. All statements other than statements of historical facts may constitute forward-looking information. Often, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this press release is expressly qualified in its entirety by the cautionary statements referred to in this section.
In particular, this new release contains forward-looking information pertaining to: the features and location of the proposed Converter, including the costs and benefits thereof; statements regarding future plans, estimates, and schedules relating to the Company's Converter strategy; statements regarding future activities undertaken in connection with the MoU; anticipated production of lithium hydroxide and related processing methods; statements and expectations regarding the electric vehicle industry; Rock Tech's planning, approval and decision-making process, including relevant factors taken into consideration by the Company; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's operations and properties.
Forward-looking information contained in this press release is based on certain assumptions, estimates, expectations, analysis and opinions of the Company and in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Such assumptions, estimates and other factors include, among other things: the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products, expected growth, performance and business operations, future commodity prices and exchange rates, prospects, growth opportunities and financing available to the Company, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions, estimates and factors to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the Company's ability to access funding required to invest in available opportunities and projects (including the proposed Converter) and on satisfactory terms, the current and potential adverse impacts of the COVID-19 pandemic and recent geopolitical hostilities, the anticipated benefits of MoU may not be realized; the risk that Rock Tech will not be able to meet its financial obligations as they fall due, changes in commodity and other prices, Rock Tech's ability to attract and retain skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of the proposed Converter, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency, exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties described from time to time in Rock Tech's public disclosure documents available on the Company's SEDAR profile at www.sedar.com, including those discussed under the heading "Financial Instruments and Other Risks" in Rock Tech's most recently filed Management Discussion and Analysis. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forward-looking information.
We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect. Forward-looking information reflects Rock Tech management's views as at the date the information is created. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based.
Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this press release.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/rock-tech-lithium-signs-memorandum-of-understanding-with-romanian-government-301497580.html
SOURCE Rock Tech Lithium Inc.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2022/08/c2865.html
SKYG.v $SRKZF more nice hits from our Newfoundland neighbour...
New Found Intercepts 47.82 g/t Au Over 9.75m at Keats Main, Extends High-Grade Zone to Surface With Interval of 55.61 g/t Au Over 3.20m
by @businesswire on 2 Mar 2022, 03:01
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 17 diamond drill holes targeting expansion of the Keats Zone (“Keats”). These holes were drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway Project (“Queensway”), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220302005402/en/
Figure 1: Left: Photo of mineralization from NFGC-21-256A approximately 161.2 m down hole depth and Right: NFGC-21-285 approximately 70.28m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-256A and NFGC-21-385. (Photo: Business Wire)
Figure 1: Left: Photo of mineralization from NFGC-21-256A approximately 161.2 m down hole depth and Right: NFGC-21-285 approximately 70.28m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-256A and NFGC-21-385. (Photo: Business Wire)
Keats Drill Result Highlights
Highlight intervals from this drilling are summarized below. Additional results are provided in Table 2.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-256A
127.15
129.40
2.25
15.07
Keats Main
And
157.00
166.75
9.75
47.82
Including
158.00
161.65
3.65
125.49
NFGC-21-306
113.85
117.00
3.15
10.66
Keats Main
NFGC-21-376
191.00
193.05
2.05
13.65
Keats Main
NFGC-21-385
69.60
72.80
3.20
55.61
Keats Main
Table 1: Highlight results from the Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The interval of 47.82 g/t Au over 9.75m in NFGC-21-256A provides further definition of a south-plunging zone of significant thickening of high-grade gold mineralization within the Keats-Baseline Fault interpreted to be hosted in a zone of dilation (Figures 1 and 2).
The intercept of 55.61 g/t Au over 3.20m in NFGC-21-385 is shallow - at approximately 45m vertical depth - and is located approximately 425m south-west of where the south-plunging dilation zone is projected to subcrop at surface beneath a thin blanket of glacial till. This high-grade interval is approximately 200m vertically above the dilation zone on this section line clearly demonstrating the significant extension of high-grade gold outside the dilation zone and towards surface within the Keats-Baseline Fault.
Similarly, the intercept of 10.66 g/t Au over 3.15m in NFGC-21-306 is approximately 75m up-dip of intervals interpreted to be in the dilation zone including NFGC-21-104 which returned 29.10 g/t Au over 11.4m (previously reported, see March 1, 2021, news release).
Greg Matheson P.Geo., Chief Operating Officer for New Found, stated: “These impressive high-grade drill intervals at Keats continue to extend and add definition to the Keats discovery. The intercept of high-grade near surface (45m depth) gold mineralization at a location over 400m south-west from where the thickened dilation zone of high-grade gold is projected to reach surface further demonstrates the broader extent of high-grade gold mineralization hosted within the Keats-Baseline Fault. At Keats, high-grade gold mineralization has now been intercepted in drilling over approximately 800m of strike and from surface to nearly 400m of vertical depth. The three drills operating at Keats continue to step out in all directions. As an orogenic gold system there is good potential to extend this system to multiples of the depth tested so far, and our ongoing drilling will continue to chase this high-grade zone to depth.”
Drillhole Details
Recent reinterpretation of previously reported Footwall Zone intercepts 88.53 g/t Au over 3.35m in NFGC-21-238 (see October 13, 202,1 news release), 56.69 g/t Au over 2.45m in NFGC-21-407 (see January 13, 2022, news release) and 28.20 g/t Au over 4.50m in NFGC-21-413A (see January 26, 2022, news release) suggest these may occur within an area of the Keats Main Zone that has been offset by an east-west trending fault zone. The Keats long section has been updated to reflect this change in interpretation (Figure 2).
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-151
47.00
49.45
2.45
1.44
Keats Main
And
54.00
56.00
2.00
6.20
NFGC-21-248A
39.30
43.20
3.90
1.15
Keats HW
And
No Significant Values
Keats Main
NFGC-21-251
10.90
13.45
2.55
1.78
Keats HW
And
174.50
176.55
2.05
1.20
Keats Main
And
177.30
179.40
2.10
1.04
And
186.00
188.00
2.00
1.38
And
206.00
210.25
4.25
3.74
Including
207.85
210.25
2.40
5.42
And
221.50
224.00
2.50
1.30
And 2
227.00
229.00
2.00
137.49
NFGC-21-256A
127.15
129.40
2.25
15.07
Keats Main
And
143.00
145.10
2.10
1.43
And
157.00
166.75
9.75
47.82
Including
158.00
161.65
3.65
125.49
And
170.80
173.00
2.20
1.13
NFGC-21-257
8.35
11.00
2.65
1.11
Keats HW
And
11.85
16.10
4.25
1.77
And2
62.30
65.00
2.70
9.18
And
176.40
179.00
2.60
1.83
Keats Main
And2
229.50
236.00
6.50
16.04
Including2
229.50
232.55
3.05
24.12
NFGC-21-282
99.85
101.85
2.00
1.81
Keats Main
And
106.45
111.00
4.55
2.68
Including
106.45
108.60
2.15
4.37
NFGC-21-305
124.70
126.70
2.00
1.49
Keats HW
And
236.40
238.50
2.10
3.90
Keats Main
NFGC-21-306
68.30
70.45
2.15
1.70
Keats Main
And
113.85
117.00
3.15
10.66
And
120.75
123.00
2.25
1.89
NFGC-21-310
164.00
166.00
2.00
1.33
Keats HW
And2
279.25
281.45
2.20
104.59
Keats Main
NFGC-21-315
302.70
307.50
4.80
1.16
Keats Main
NFGC-21-337
215.00
218.80
3.80
2.28
Keats Main
And
227.70
230.00
2.30
1.15
NFGC-21-361
82.50
85.30
2.80
1.07
Keats Main
And
87.25
89.25
2.00
1.29
NFGC-21-376
178.65
180.65
2.00
1.65
Keats Main
And
191.00
193.05
2.05
13.65
And
196.00
198.15
2.15
2.46
NFGC-21-380
96.40
98.75
2.35
1.39
Keats HW
And
158.20
160.25
2.05
8.54
Keats Main
And
175.30
177.95
2.65
1.14
And
234.30
236.50
2.20
1.12
NFGC-21-384
213.25
216.50
3.25
1.47
Keats Main
And
219.00
221.00
2.00
1.01
And
238.90
243.00
4.10
1.82
And
265.00
267.00
2.00
1.22
NFGC-21-385
69.60
72.80
3.20
55.61
Keats Main
NFGC-21-400
No Significant Values
Keats Main
Table 2: Summary of results reported in this release for Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. 2Assays have been previously reported.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-151
300
-45
203
658031
5427399
NFGC-21-248A
117
-75
372
657930
5427271
NFGC-21-251
118
-75
334
657951
5427310
NFGC-21-256A
299
-46
257
658197
5427374
NFGC-21-257
118
-78
346
657951
5427310
NFGC-21-282
299
-46
222
658287
5427481
NFGC-21-305
299
-46
321
658081
5427225
NFGC-21-306
299
-46
179
658100
5427358
NFGC-21-310
300
-45
386
658112
5427179
NFGC-21-315
300
-45
428
658111
5427150
NFGC-21-337
299
-46
266
658059
5427238
NFGC-21-361
299
-46
218
658055
5427326
NFGC-21-376
120
-72
351
657972
5427337
NFGC-21-380
300
-45
308
657965
5427205
NFGC-21-384
299
-46
317
658139
5427249
NFGC-21-385
299
-46
290
657961
5427265
NFGC-21-400
299
-46
93
658096
5427274
Table 3: Details of drill holes reported in this release
Queensway 400,000m Drill Program Update
Approximately 37% of the planned 400,000m program at Queensway has been drilled to date with approximately 25,400m of the core with pending assay results. Eleven core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 60% to 95% of reported core lengths. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and 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 3% 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 March 2, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 37% complete. The Company is well funded for this program with a current working capital balance of approximately $116 million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220302005402/en/
SKYG.v $SRKZF more nice hits from our Newfoundland neighbour...
New Found Intercepts 47.82 g/t Au Over 9.75m at Keats Main, Extends High-Grade Zone to Surface With Interval of 55.61 g/t Au Over 3.20m
by @businesswire on 2 Mar 2022, 03:01
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 17 diamond drill holes targeting expansion of the Keats Zone (“Keats”). These holes were drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway Project (“Queensway”), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220302005402/en/
Figure 1: Left: Photo of mineralization from NFGC-21-256A approximately 161.2 m down hole depth and Right: NFGC-21-285 approximately 70.28m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-256A and NFGC-21-385. (Photo: Business Wire)
Figure 1: Left: Photo of mineralization from NFGC-21-256A approximately 161.2 m down hole depth and Right: NFGC-21-285 approximately 70.28m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-256A and NFGC-21-385. (Photo: Business Wire)
Keats Drill Result Highlights
Highlight intervals from this drilling are summarized below. Additional results are provided in Table 2.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-256A
127.15
129.40
2.25
15.07
Keats Main
And
157.00
166.75
9.75
47.82
Including
158.00
161.65
3.65
125.49
NFGC-21-306
113.85
117.00
3.15
10.66
Keats Main
NFGC-21-376
191.00
193.05
2.05
13.65
Keats Main
NFGC-21-385
69.60
72.80
3.20
55.61
Keats Main
Table 1: Highlight results from the Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The interval of 47.82 g/t Au over 9.75m in NFGC-21-256A provides further definition of a south-plunging zone of significant thickening of high-grade gold mineralization within the Keats-Baseline Fault interpreted to be hosted in a zone of dilation (Figures 1 and 2).
The intercept of 55.61 g/t Au over 3.20m in NFGC-21-385 is shallow - at approximately 45m vertical depth - and is located approximately 425m south-west of where the south-plunging dilation zone is projected to subcrop at surface beneath a thin blanket of glacial till. This high-grade interval is approximately 200m vertically above the dilation zone on this section line clearly demonstrating the significant extension of high-grade gold outside the dilation zone and towards surface within the Keats-Baseline Fault.
Similarly, the intercept of 10.66 g/t Au over 3.15m in NFGC-21-306 is approximately 75m up-dip of intervals interpreted to be in the dilation zone including NFGC-21-104 which returned 29.10 g/t Au over 11.4m (previously reported, see March 1, 2021, news release).
Greg Matheson P.Geo., Chief Operating Officer for New Found, stated: “These impressive high-grade drill intervals at Keats continue to extend and add definition to the Keats discovery. The intercept of high-grade near surface (45m depth) gold mineralization at a location over 400m south-west from where the thickened dilation zone of high-grade gold is projected to reach surface further demonstrates the broader extent of high-grade gold mineralization hosted within the Keats-Baseline Fault. At Keats, high-grade gold mineralization has now been intercepted in drilling over approximately 800m of strike and from surface to nearly 400m of vertical depth. The three drills operating at Keats continue to step out in all directions. As an orogenic gold system there is good potential to extend this system to multiples of the depth tested so far, and our ongoing drilling will continue to chase this high-grade zone to depth.”
Drillhole Details
Recent reinterpretation of previously reported Footwall Zone intercepts 88.53 g/t Au over 3.35m in NFGC-21-238 (see October 13, 202,1 news release), 56.69 g/t Au over 2.45m in NFGC-21-407 (see January 13, 2022, news release) and 28.20 g/t Au over 4.50m in NFGC-21-413A (see January 26, 2022, news release) suggest these may occur within an area of the Keats Main Zone that has been offset by an east-west trending fault zone. The Keats long section has been updated to reflect this change in interpretation (Figure 2).
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-151
47.00
49.45
2.45
1.44
Keats Main
And
54.00
56.00
2.00
6.20
NFGC-21-248A
39.30
43.20
3.90
1.15
Keats HW
And
No Significant Values
Keats Main
NFGC-21-251
10.90
13.45
2.55
1.78
Keats HW
And
174.50
176.55
2.05
1.20
Keats Main
And
177.30
179.40
2.10
1.04
And
186.00
188.00
2.00
1.38
And
206.00
210.25
4.25
3.74
Including
207.85
210.25
2.40
5.42
And
221.50
224.00
2.50
1.30
And 2
227.00
229.00
2.00
137.49
NFGC-21-256A
127.15
129.40
2.25
15.07
Keats Main
And
143.00
145.10
2.10
1.43
And
157.00
166.75
9.75
47.82
Including
158.00
161.65
3.65
125.49
And
170.80
173.00
2.20
1.13
NFGC-21-257
8.35
11.00
2.65
1.11
Keats HW
And
11.85
16.10
4.25
1.77
And2
62.30
65.00
2.70
9.18
And
176.40
179.00
2.60
1.83
Keats Main
And2
229.50
236.00
6.50
16.04
Including2
229.50
232.55
3.05
24.12
NFGC-21-282
99.85
101.85
2.00
1.81
Keats Main
And
106.45
111.00
4.55
2.68
Including
106.45
108.60
2.15
4.37
NFGC-21-305
124.70
126.70
2.00
1.49
Keats HW
And
236.40
238.50
2.10
3.90
Keats Main
NFGC-21-306
68.30
70.45
2.15
1.70
Keats Main
And
113.85
117.00
3.15
10.66
And
120.75
123.00
2.25
1.89
NFGC-21-310
164.00
166.00
2.00
1.33
Keats HW
And2
279.25
281.45
2.20
104.59
Keats Main
NFGC-21-315
302.70
307.50
4.80
1.16
Keats Main
NFGC-21-337
215.00
218.80
3.80
2.28
Keats Main
And
227.70
230.00
2.30
1.15
NFGC-21-361
82.50
85.30
2.80
1.07
Keats Main
And
87.25
89.25
2.00
1.29
NFGC-21-376
178.65
180.65
2.00
1.65
Keats Main
And
191.00
193.05
2.05
13.65
And
196.00
198.15
2.15
2.46
NFGC-21-380
96.40
98.75
2.35
1.39
Keats HW
And
158.20
160.25
2.05
8.54
Keats Main
And
175.30
177.95
2.65
1.14
And
234.30
236.50
2.20
1.12
NFGC-21-384
213.25
216.50
3.25
1.47
Keats Main
And
219.00
221.00
2.00
1.01
And
238.90
243.00
4.10
1.82
And
265.00
267.00
2.00
1.22
NFGC-21-385
69.60
72.80
3.20
55.61
Keats Main
NFGC-21-400
No Significant Values
Keats Main
Table 2: Summary of results reported in this release for Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. 2Assays have been previously reported.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-151
300
-45
203
658031
5427399
NFGC-21-248A
117
-75
372
657930
5427271
NFGC-21-251
118
-75
334
657951
5427310
NFGC-21-256A
299
-46
257
658197
5427374
NFGC-21-257
118
-78
346
657951
5427310
NFGC-21-282
299
-46
222
658287
5427481
NFGC-21-305
299
-46
321
658081
5427225
NFGC-21-306
299
-46
179
658100
5427358
NFGC-21-310
300
-45
386
658112
5427179
NFGC-21-315
300
-45
428
658111
5427150
NFGC-21-337
299
-46
266
658059
5427238
NFGC-21-361
299
-46
218
658055
5427326
NFGC-21-376
120
-72
351
657972
5427337
NFGC-21-380
300
-45
308
657965
5427205
NFGC-21-384
299
-46
317
658139
5427249
NFGC-21-385
299
-46
290
657961
5427265
NFGC-21-400
299
-46
93
658096
5427274
Table 3: Details of drill holes reported in this release
Queensway 400,000m Drill Program Update
Approximately 37% of the planned 400,000m program at Queensway has been drilled to date with approximately 25,400m of the core with pending assay results. Eleven core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 60% to 95% of reported core lengths. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and 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 3% 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 March 2, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 37% complete. The Company is well funded for this program with a current working capital balance of approximately $116 million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220302005402/en/
SKYG.v $SRKZF Sky Gold Plans 2022 Exploration Activities on the Mustang Property, Newfoundland
by @accesswire on 2 Mar 2022, 02:00
VANCOUVER, BC / ACCESSWIRE / March 2, 2022 / Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") announces exploration activities for the forthcoming 2022 field season on the company's Mustang property, which is contiguous with New Found Gold Corp.'s Queensway gold project.
The Company is currently sourcing a contractor to commence activities on the Mustang Property which will include induced polarization ("IP") geophysics, detailed soil and rock geochemistry sampling over established anomalies, trenching and geological mapping. This program will be followed by a Phase 2 diamond drill program directed at other targets including:
West Targets - Comprises multiple gold-in-soil anomalies over an area measuring approximately 1,000 meters x 600 meters oriented in a NE-SW direction, paralleling the interpreted Dog Bay Line regional structure. The soil anomalies are located east of the Jasperoid and Barite Showings.
North Woodman Pond Target - Covering an area of 2,000 by 750 meters, this target includes the highest gold-in-soil values received to date of 55 parts per billion gold ("ppb") Au, with highly anomalous arsenic (As) at 87 parts per million ("ppm"). This target is flanked on both sides by the Schooner Fault and offset structures, as identified on Exploits Discovery Corp. ("NFLD") contiguous Mt. Peyton project. NFLD reports that the Schooner Fault represents a sub-parallel trending fault system, identified by GoldSpot Discoveries Corp. (TSX.V: SPOT) for NFLD, located approximately 3.5 km west of the known gold bearing Appleton Fault that hosts New Found Gold's Keats, Lotto, and Knob Zone gold discoveries.
RB (Road Breccia) Target - The RB Target comprises gold-in-soil anomalies along with associated anomalous As values. The anomaly area measures roughly 1,200 meters by 600 meters, in an east-west direction, with anomalous copper (Cu) values being more widespread.
"We are looking forward to starting our 2022 field season directed at defining multiple targets on the Mustang Property that have never been drill tested. Our Mustang and Virginia properties are strategically located in the heart of Newfoundland's modern-day gold rush and poised for discoveries," stated Mike England, CEO of Sky Gold.
Last year (2021) activities included geological mapping, prospecting, soil and rock geochemistry, magnetic geophysics and 3,283 meters of diamond drilling in 19 holes. Drilling was conducted in three areas along the main Mustang Zone, over a length of 1.2-kilometres, trending north-northeast and south-southwest. Significant intervals of lower-grade gold were intercepted in multiple holes, with potential for low-grade, bulk-style mineralization on portions of the Mustang zone. The Company also identified multiple new gold-in-soil geochemical anomalies in the northern and western portions of the Mustang Property (see news release dated June 2, 2021).
The Company also owns the Virginia property in Newfoundland, located contiguous to the southern margin of Labrador Gold Corp.'s Kingsway property where drilling is active on the Big Vein target. The Virginia property has received all necessary permits for its maiden diamond drill program.
Soil Geochemistry Survey Details
Sample processing and assays were completed by Eastern Analytical Labs, of Springdale, Nova Scotia, and ISO 17205 certified laboratory facility. The minus-80 mesh fractions of the samples were analyzed by Fire Assay for Au, and Induction-Coupled Plasma optical emission analysis (ICP-OES), after four-acid (HCl/HNO3/HClO4/HF) digestion for Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, In, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Se, Sn, Sr, Ti, U, V, W, Zn and Zr.
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 Evening Star property.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp's Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for precious (silver and gold) mineralization and CRD (Carbonate Replacement Deposit) base metal mineralization. The Company owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/691035/Sky-Gold-Plans-2022-Exploration-Activities-on-the-Mustang-Property-Newfoundland
SKYG.v $SRKZF Sky Gold Plans 2022 Exploration Activities on the Mustang Property, Newfoundland
by @accesswire on 2 Mar 2022, 02:00
VANCOUVER, BC / ACCESSWIRE / March 2, 2022 / Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") announces exploration activities for the forthcoming 2022 field season on the company's Mustang property, which is contiguous with New Found Gold Corp.'s Queensway gold project.
The Company is currently sourcing a contractor to commence activities on the Mustang Property which will include induced polarization ("IP") geophysics, detailed soil and rock geochemistry sampling over established anomalies, trenching and geological mapping. This program will be followed by a Phase 2 diamond drill program directed at other targets including:
West Targets - Comprises multiple gold-in-soil anomalies over an area measuring approximately 1,000 meters x 600 meters oriented in a NE-SW direction, paralleling the interpreted Dog Bay Line regional structure. The soil anomalies are located east of the Jasperoid and Barite Showings.
North Woodman Pond Target - Covering an area of 2,000 by 750 meters, this target includes the highest gold-in-soil values received to date of 55 parts per billion gold ("ppb") Au, with highly anomalous arsenic (As) at 87 parts per million ("ppm"). This target is flanked on both sides by the Schooner Fault and offset structures, as identified on Exploits Discovery Corp. ("NFLD") contiguous Mt. Peyton project. NFLD reports that the Schooner Fault represents a sub-parallel trending fault system, identified by GoldSpot Discoveries Corp. (TSX.V: SPOT) for NFLD, located approximately 3.5 km west of the known gold bearing Appleton Fault that hosts New Found Gold's Keats, Lotto, and Knob Zone gold discoveries.
RB (Road Breccia) Target - The RB Target comprises gold-in-soil anomalies along with associated anomalous As values. The anomaly area measures roughly 1,200 meters by 600 meters, in an east-west direction, with anomalous copper (Cu) values being more widespread.
"We are looking forward to starting our 2022 field season directed at defining multiple targets on the Mustang Property that have never been drill tested. Our Mustang and Virginia properties are strategically located in the heart of Newfoundland's modern-day gold rush and poised for discoveries," stated Mike England, CEO of Sky Gold.
Last year (2021) activities included geological mapping, prospecting, soil and rock geochemistry, magnetic geophysics and 3,283 meters of diamond drilling in 19 holes. Drilling was conducted in three areas along the main Mustang Zone, over a length of 1.2-kilometres, trending north-northeast and south-southwest. Significant intervals of lower-grade gold were intercepted in multiple holes, with potential for low-grade, bulk-style mineralization on portions of the Mustang zone. The Company also identified multiple new gold-in-soil geochemical anomalies in the northern and western portions of the Mustang Property (see news release dated June 2, 2021).
The Company also owns the Virginia property in Newfoundland, located contiguous to the southern margin of Labrador Gold Corp.'s Kingsway property where drilling is active on the Big Vein target. The Virginia property has received all necessary permits for its maiden diamond drill program.
Soil Geochemistry Survey Details
Sample processing and assays were completed by Eastern Analytical Labs, of Springdale, Nova Scotia, and ISO 17205 certified laboratory facility. The minus-80 mesh fractions of the samples were analyzed by Fire Assay for Au, and Induction-Coupled Plasma optical emission analysis (ICP-OES), after four-acid (HCl/HNO3/HClO4/HF) digestion for Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, In, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Se, Sn, Sr, Ti, U, V, W, Zn and Zr.
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 Evening Star property.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp's Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for precious (silver and gold) mineralization and CRD (Carbonate Replacement Deposit) base metal mineralization. The Company owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/691035/Sky-Gold-Plans-2022-Exploration-Activities-on-the-Mustang-Property-Newfoundland
by @newsfile on 1 Mar 2022, 04:22
GMG and Wood Agree Collaboration Arrangement for Wood to Engineer and Deliver Major Graphene Manufacturing Expansion Projects
Brisbane, Queensland, Australia--(Newsfile Corp. - March 1, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to announce that GMG and Wood have agreed to a non-binding Letter of Intent, with the aim to agree on the terms of binding agreements for Wood to design and deliver major graphene manufacturing expansion projects.
Wood will support GMG in scaling up and automating its proprietary natural gas to graphene manufacturing process. The parties' intent is for Wood to become GMG's engineering, design and construction contractor for GMG's near and long-term graphene manufacturing facility needs in Australia and overseas.
Graphene is one of the main components enabling the GMG and University of Queensland graphene aluminium-ion battery ("G+AI Battery") technology. In 2017 and 2018, GMG developed and proved its proprietary graphene production process to produce graphene from natural gas (i.e. methane). This process produces high quality and scalable graphene, suitable for use in clean-technology applications, including G+AI Batteries. GMG's arrangement with Wood is intended to support scaling and automation of the graphene production process to meet graphene supply requirements for GMG's targeted G+AI Battery division.
A Letter of Intent was earlier signed with Bosch (news release 25 October 2021) for the design and delivery of targeted G+AI Battery manufacturing plants. GMG and Wood will work in collaboration with Bosch to create an aligned production process from graphene manufacturing through to final G+AI Battery products across the Company's facilities.
GMG's Managing Director and CEO, Craig Nicol, commented: "We are proud and excited to be collaborating with Wood who are a major, world leading engineering company with a significant focus on the energy transition. As we have told our shareholders, one of our key current activities is engagement with customer and industry partners for G+AI Battery development and this is another example of that progression. In parallel we are also building up our internal battery and graphene engineering capability further through a recruitment programme that is underway. Together with the partnership already established with Bosch this is another important step towards GMG's goal to become a major global supplier of G+AI Batteries as we continue to de-risk the commercial scale up of this technology."
About Wood
Wood is a global leader in consulting and engineering across energy and the built environment, helping to unlock solutions to some of the world's most critical challenges. Wood provides consulting, projects and operations solutions in more than 60 countries, employing around 40,000 people. www.woodplc.com
About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding timing, completion and the final terms and conditions of binding agreements to be entered into between Wood and the Company; Wood's role as a technical development partner and the impacts and benefits arising therefrom, including facility needs; GMG's ability to produce its products and the benefits arising from such products; and the commercial progress and technical characteristics of certain products.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including that GMG and Wood will be unable to agree on terms and conditions for binding agreements; that such terms and conditions will differ from the Company's expectations; that results and impacts arising binding agreements between GMG and Wood will differ from the Company's expectations; changes to regional and global market trends; and that the Company will be unable to research, develop and produce certain products and technologies.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to enter into binding agreements with Wood on the terms consistent with the Company's expectations; that benefits and impacts arising from binding agreements between the Company and Wood will be consistent with the Company's expectations; the Company's ability to research, develop and test its products within anticipated timelines; and market demand for the Company's products.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115227
GMG.v $GMGMF GMG and Wood Agree Collaboration Arrangement for Wood to Engineer and Deliver Major Graphene Manufacturing Expansion Projects
by @newsfile on 1 Mar 2022, 04:22
Brisbane, Queensland, Australia--(Newsfile Corp. - March 1, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to announce that GMG and Wood have agreed to a non-binding Letter of Intent, with the aim to agree on the terms of binding agreements for Wood to design and deliver major graphene manufacturing expansion projects.
Wood will support GMG in scaling up and automating its proprietary natural gas to graphene manufacturing process. The parties' intent is for Wood to become GMG's engineering, design and construction contractor for GMG's near and long-term graphene manufacturing facility needs in Australia and overseas.
Graphene is one of the main components enabling the GMG and University of Queensland graphene aluminium-ion battery ("G+AI Battery") technology. In 2017 and 2018, GMG developed and proved its proprietary graphene production process to produce graphene from natural gas (i.e. methane). This process produces high quality and scalable graphene, suitable for use in clean-technology applications, including G+AI Batteries. GMG's arrangement with Wood is intended to support scaling and automation of the graphene production process to meet graphene supply requirements for GMG's targeted G+AI Battery division.
A Letter of Intent was earlier signed with Bosch (news release 25 October 2021) for the design and delivery of targeted G+AI Battery manufacturing plants. GMG and Wood will work in collaboration with Bosch to create an aligned production process from graphene manufacturing through to final G+AI Battery products across the Company's facilities.
GMG's Managing Director and CEO, Craig Nicol, commented: "We are proud and excited to be collaborating with Wood who are a major, world leading engineering company with a significant focus on the energy transition. As we have told our shareholders, one of our key current activities is engagement with customer and industry partners for G+AI Battery development and this is another example of that progression. In parallel we are also building up our internal battery and graphene engineering capability further through a recruitment programme that is underway. Together with the partnership already established with Bosch this is another important step towards GMG's goal to become a major global supplier of G+AI Batteries as we continue to de-risk the commercial scale up of this technology."
About Wood
Wood is a global leader in consulting and engineering across energy and the built environment, helping to unlock solutions to some of the world's most critical challenges. Wood provides consulting, projects and operations solutions in more than 60 countries, employing around 40,000 people. www.woodplc.com
About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding timing, completion and the final terms and conditions of binding agreements to be entered into between Wood and the Company; Wood's role as a technical development partner and the impacts and benefits arising therefrom, including facility needs; GMG's ability to produce its products and the benefits arising from such products; and the commercial progress and technical characteristics of certain products.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including that GMG and Wood will be unable to agree on terms and conditions for binding agreements; that such terms and conditions will differ from the Company's expectations; that results and impacts arising binding agreements between GMG and Wood will differ from the Company's expectations; changes to regional and global market trends; and that the Company will be unable to research, develop and produce certain products and technologies.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to enter into binding agreements with Wood on the terms consistent with the Company's expectations; that benefits and impacts arising from binding agreements between the Company and Wood will be consistent with the Company's expectations; the Company's ability to research, develop and test its products within anticipated timelines; and market demand for the Company's products.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115227
SKYG.v $SRKZF Neighbour in Newfoundland out with significant high grade zone extension...
New Found Intercepts 62.3 g/t Au Over 2.00m at Keats Main, Extends High-Grade Zone to 845m Down Plunge
by @businesswire on 24 Feb 2022, 03:00
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 21 diamond drill holes targeting expansion of the Keats Zone (“Keats”) and to test for additional high-grade gold mineralization along the Appleton Fault Zone (‘AFZ’). These holes were drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway Project (“Queensway”), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220224005411/en/
Figure 1: Left: Photo of mineralization from NFGC-21-263 approximately 194.4m down hole depth and Right: NFGC-21-387 approximately 445.3m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-263 and NFGC-21-387. (Photo: Business Wire)
Figure 1: Left: Photo of mineralization from NFGC-21-263 approximately 194.4m down hole depth and Right: NFGC-21-387 approximately 445.3m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-263 and NFGC-21-387. (Photo: Business Wire)
Keats Drill Result Highlights
Highlight intervals from this drilling are summarized below. Additional results are provided in Table 2.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-263
189.70
195.25
5.55
28.16
Keats Main
Including
193.10
195.25
2.15
71.86
NFGC-21-272
152.00
155.10
3.10
43.78
Keats Main
NFGC-21-297
219.50
227.75
8.25
8.79
Keats Main
Including
219.50
224.35
4.85
14.29
NFGC-21-387
444.40
446.40
2.00
62.30
Keats Main
Table 1: Highlight results from the Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The interval of 62.30 g/t Au over 2.00m in NFGC-21-387 (see Figures 2 and 3) is interpreted to occur within the Keats Main Zone (hosted in the Keats baseline fault) and is located approximately 315m down-plunge from the previous furthest down-plunge high-grade intercept of 61.5g/t Au over 5.20m in hole NFGC-21-360 (see October 14, 2021, news release). Ongoing drilling continues to test the continuity of high-grade gold mineralization in the Keats Main Zone including over this 315m interval.
The intercept of 8.79 g/t Au over 8.25m in NFGC-21-297 is located approximately 80m up-dip from two previously reported high-grade intervals of 21.36 g/t Au over 8.05m and 14.92 g/t Au over 12.85m in hole NFGC-21-204 (Figures 2, 3, and 4).
Intercepts of 28.16 g/t Au over 5.55m in NFGC-21-263 and 43.78 g/t Au over 3.10m in NFGC-21-272 further define the extent of the high-grade gold mineralization and confirm its continuity within the Keats Main Zone.
The Keats Main Zone remains open in all directions and exploration will continue to target the expansion of high-grade gold mineralization in this zone. Drilling at Keats will also continue to step-out on multiple additional high-grade gold intervals intercepted in additional vein sets at varying interpreted orientations including in the Keats footwall.
NFGC-21-144 was drilled another approximately 400m south of NFGC-21-387 in an area named the Trans-Canada Highway Zone (‘TCH’). This hole intersected a near surface fault zone containing gold-bearing quartz veins that returned intervals including 1.77 g/t Au over 3.10m and 1.72 g/t Au over 7.10m. These intervals displayed textures and mineralization typical of high-grade gold mineralization defined in other areas along this segment of the AFZ (Figure 3). Follow up drilling in this area will commence shortly.
Melissa Render, V.P. Exploration for New Found, stated: “Keats has now delivered outstanding intervals of high-grade gold over +800m of strike and to 375m of vertical depth. Drilling in the Keats baseline fault has focused on extending an interpreted thickened, south plunging dilation zone and on extension of this high-grade gold mineralization from the dilation zone to surface. To date we have completed very limited drill testing below this dilation zone. The multiple additional high-grade gold intercepts in other structures outside of the Keats baseline fault is building increasing complexity in the interpreted host vein geometry at Keats. The strike and vertical extent of the high-grade gold mineralization in these multiple vein sets is very encouraging in expanding the dimensions and envelope of the high-grade gold system at Keats.
Big picture we continue systematic exploration drilling along the AFZ, continuing step out drilling at the Golden Joint and Lotto Zones along a +2.5 km trend. In parallel we continue to add to and drill test multiple targets along +20km of total strike on the Appleton and JBP fault zones on Queensway North. The intercepts in hole NFGC-21-144 south of the Trans-Canada Highway adds one more target to be pursued in our ongoing work.”
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-259
241.00
243.00
2.00
2.57
Keats Main
NFGC-21-263
11.40
16.30
4.90
1.34
Keats HW
And
60.10
62.10
2.00
1.13
And
179.00
181.05
2.05
1.74
Keats Main
And
189.70
195.25
5.55
28.16
Including
193.10
195.25
2.15
71.86
And
212.55
214.70
2.15
7.14
And
298.00
300.00
2.00
5.39
NFGC-21-265A
No Significant Values
Keats Main
NFGC-21-270
No Significant Values
Keats Main
NFGC-21-272
133.85
136.30
2.45
2.10
Keats Main
And
152.00
155.10
3.10
43.78
And
157.00
159.00
2.00
1.89
NFGC-21-277
141.70
144.00
2.30
2.56
Keats Main
NFGC-21-284A
291.25
295.35
4.10
2.94
Keats Main
And
304.00
307.70
3.70
2.29
And
313.55
316.50
2.95
1.21
NFGC-21-288
94.70
96.80
2.10
1.23
Keats Main
And
111.40
115.30
3.90
3.53
Including
111.40
113.55
2.15
5.48
And
126.00
128.40
2.40
1.18
And
135.25
138.00
2.75
1.42
And
149.00
152.65
3.65
1.96
Keats FW
And
155.00
157.00
2.00
1.30
NFGC-21-292
No Significant Values
Keats Main
NFGC-21-293
261.70
264.40
2.70
1.09
Keats Main
And
273.00
275.00
2.00
1.55
And
297.45
299.90
2.45
1.55
Keats FW
And
302.55
304.65
2.10
1.50
NFGC-21-297
219.50
227.75
8.25
8.79
Keats Main
Including
219.50
224.35
4.85
14.29
And
254.95
257.00
2.05
1.72
And
307.00
309.40
2.40
1.19
Keats FW
NFGC-21-298
49.00
51.00
2.00
1.06
Keats Main
NFGC-21-308
297.45
299.55
2.10
1.36
Keats Main
And
321.85
328.65
6.80
2.30
Including
321.85
325.70
3.85
3.40
And
331.40
335.00
3.60
2.52
NFGC-21-324
96.20
99.45
3.25
2.14
Keats Main
And
103.00
105.00
2.00
1.34
And
115.70
119.20
3.50
2.48
Including
115.70
117.90
2.20
3.35
NFGC-21-336
315.70
317.90
2.20
1.16
Keats Main
NFGC-21-339
151.60
155.00
3.40
1.51
Keats HW
NFGC-21-345
103.05
106.00
2.95
1.01
Keats HW
And
177.95
180.05
2.10
1.23
Keats Main
NFGC-21-378
84.80
87.00
2.20
1.68
Keats Main
And
143.00
145.60
2.60
1.46
And
211.00
213.45
2.45
1.24
Keats FW
NFGC-21-387
444.40
446.40
2.00
62.30
Keats Main
Table 2: Summary of results reported in this release for Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Hole No.
From (m)
To (m)
Interval (m)*
Au (g/t)
Zone
NFGC-21-138
NSV
TCH
NFGC-21-144
7.50
10.60
3.10
1.77
TCH
And
44.70
51.80
7.10
1.72
Including
44.70
47.00
2.30
3.65
Table 3: Summary of results reported in this release for TCH
1Note orientations of the mineralized intervals have insufficient information at this time to determine a true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-138
300
-45
234
657632
5426646
NFGC-21-144
120
-45
215
657633
5426643
NFGC-21-259
117
-72
341
657930
5427271
NFGC-21-263
118
-72
334
657952
5427310
NFGC-21-265A
117
-78
341
657929
5427271
NFGC-21-270
118
-49
419
657749
5427325
NFGC-21-272
299
-46
227
658187
5427380
NFGC-21-277
299
-46
248
658176
5427386
NFGC-21-284A
299
-45
395
658125
5427200
NFGC-21-288
300
-45
213
658270
5427477
NFGC-21-292
299
-46
254
658331
5427456
NFGC-21-293
300
-45
371
658103
5427212
NFGC-21-297
300
-45
377
658126
5427228
NFGC-21-298
299
-46
170
658080
5427370
NFGC-21-308
299
-46
365
658134
5427165
NFGC-21-324
299
-46
230
658067
5427348
NFGC-21-336
299
-46
353
658087
5427136
NFGC-21-339
299
-46
416
658074
5427114
NFGC-21-345
300
-45
299
658017
5427263
NFGC-21-378
300
-45
330
657982
5427254
NFGC-21-387
299
-46
635
657936
5426877
Table 4: Details of drill holes reported in this release
Queensway 400,000m Drill Program Update
Approximately 35% of the planned 400,000m program at Queensway has been drilled to date with approximately 28,500m of the core with pending assay results. Ten core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 60% to 95% of reported core lengths. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and 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 3% 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 February 24, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 35% complete. The Company is well funded for this program with a current working capital balance of approximately $118million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005411/en/
WHN.v Westhaven Drills 3.13 Metres of 45.23 g/t Gold and 195.64 g/t Silver Within 8.00 Metres of 20.22 g/t Gold and 83.97 g/t Silver at the Shovelnose Gold Property
by @nasdaq on 22 Feb 2022, 04:55
VANCOUVER, British Columbia, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing, fully-financed drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
Gareth Thomas, President & CEO, comments: “Hole SNR21-55 (8.00m of 20.22 g/t gold and 83.97 g/t Ag) is a completely new high-grade gold discovery within Vein Zone 2 at the Alpine Zone. This hole is approximately 500 metres from previous high-grade intercepts within Vein Zone 2 at the South Zone. This is very exciting as it remains open to the northwest and gives us a whole new area to focus on.”
Recent Drilling Highlights:
SNR21-55 (Alpine : 44.00-52.00m)
8.00 metres (m) of 20.22 g/t gold (Au) and 83.97 g/t silver (Ag),
including 3.13m of 45.23 g/t Au and 195.64 g/t Ag.
(203.00-220.00m)
17.00m of 1.02 g/t Au and 1.24 g/t Ag,
including 3.00m of 5.25 g/t Au and 5.44 g/t Ag.
SNR21-54 (Alpine : 212.48-240.00m)
27.52m of 0.68 g/t Au and 1.04 g/t Ag,
including 3.00m of 4.84 g/t Au and 6.16 g/t Ag.
SNR21-53 (Alpine : 27.76-101.00m)
73.24m of 0.39g/t Au and 2.91 g/t Ag,
including 1.98m of 7.22 g/t Au and 15.34 g/t Ag.
Westhaven is reporting assays for 5 holes from its ongoing drill campaign at Shovelnose. Please click the following link to the 2021 drill database table of assay results:
https://www.westhavengold.com/projects/shovelnose-gold/maps/
Peter Fischl, Exploration Manager, comments: “Hole SNR21-55 is amongst a group of 17 in-fill holes located in the northwestern part of the currently defined in-pit resource that have not been incorporated into the current resource estimate of 1.1 million ounces gold equivalent. Additional step outs are being planned to follow-up this high-grade intersection in hole SNR21-55. This gold-bearing vein at the top of Vein Zone 2 remains open to the northwest. The shallow nature of this mineralization will contribute to the open-pit potential for this part of the Alpine target area.”
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas"
Gareth Thomas, President, CEO & Director
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
PLAN MAP:
https://www.globenewswire.com/NewsRoom/AttachmentNg/893871f5-23d7-4efa-bec0-8f585fa7bc18
CROSS-SECTIONS:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2373ea5d-eaa9-4061-b37f-0808f8bc9eb4
https://www.globenewswire.com/NewsRoom/AttachmentNg/56654150-30db-4df7-9ee2-398c65b67be1
Primary Logo
Image 1
Plan Map
Image 2
Cross-Section
Image 3
Cross-Section
BARU.v $BARUF Baru Gold Begins Exploration of 23 New Structural Study Targets with Promising Results from Kingston Target
by @thenewswire on 14 Feb 2022, 06:30
(TheNewswire)
Baru Gold Corp.
February 14, 2022 – TheNewswire - Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce that it has commenced field analysis of the 23 new exploration targets identified in the structural study with some promising initial results.
Initial field analysis began with mapping and sampling of artisanal workings beyond the western boundary of the Priority 1 Kingston Target which has been named Kingston West and then progressed to the mapping and sampling of outcrops found within Kingston.
Assay results of the samples taken from the Kingston West Target returned an average gold grade of 1.84g/t and 2.89g/t for silver. Kingston West contains potential ore grade samples obtained from strongly oxidised quartz veins in tuffaceous andesite returning assays ranging from 0.83g/t – 5.57g/t for gold and 0.90g/t – 9.10g/t for silver.
Assay results from the samples taken from within the Kingston Target returned an average gold grade of 3.89g/t and 3.79g/t for silver. Kingston contains potential ore grade samples obtained from oxidised hydrothermal breccia with tuffaceous andesite and from strongly oxidised quartz veins in tuffaceous andesite returning assays ranging from 0.84g/t – 14.60g/t for gold and 1.70g/t – 13.10g/t for silver.
The 14.60g/t gold assay was obtained from a tuffaceous andesite containing a 0.73m wide strongly oxidised sheeted vein stockwork containing veinlets of quartz ranging from 0.5cm – 10cm wide. An example of the quartz veinlet is shown in Figure 1.
These initial sample results from the Kingston West and the Priority 1 Kingston Target areas have provided some ground truthing of the first of 23 New Exploration Targets defined by the structural study conducted by Murphy Geological Services.
Mr. Frank Rocca, Chief Geologist of Baru, commented, “These are exciting times for the exploration team as we seek to expand our knowledge of the CoW beyond the known Binebase-Bawone deposits for additional ore resources. I look forward to reporting the results of further Field Analysis by the exploration team in due course.”
Click Image To View Full Size
Figure 1. Quartz veinlet sample assayed as 14.60g/t Au & 4.00g/t Ag
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in 2022.
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 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Begins Exploration of 23 New Structural Study Targets with Promising Results from Kingston Target
y @thenewswire on 14 Feb 2022, 06:30
(TheNewswire)
Baru Gold Corp.
February 14, 2022 – TheNewswire - Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce that it has commenced field analysis of the 23 new exploration targets identified in the structural study with some promising initial results.
Initial field analysis began with mapping and sampling of artisanal workings beyond the western boundary of the Priority 1 Kingston Target which has been named Kingston West and then progressed to the mapping and sampling of outcrops found within Kingston.
Assay results of the samples taken from the Kingston West Target returned an average gold grade of 1.84g/t and 2.89g/t for silver. Kingston West contains potential ore grade samples obtained from strongly oxidised quartz veins in tuffaceous andesite returning assays ranging from 0.83g/t – 5.57g/t for gold and 0.90g/t – 9.10g/t for silver.
Assay results from the samples taken from within the Kingston Target returned an average gold grade of 3.89g/t and 3.79g/t for silver. Kingston contains potential ore grade samples obtained from oxidised hydrothermal breccia with tuffaceous andesite and from strongly oxidised quartz veins in tuffaceous andesite returning assays ranging from 0.84g/t – 14.60g/t for gold and 1.70g/t – 13.10g/t for silver.
The 14.60g/t gold assay was obtained from a tuffaceous andesite containing a 0.73m wide strongly oxidised sheeted vein stockwork containing veinlets of quartz ranging from 0.5cm – 10cm wide. An example of the quartz veinlet is shown in Figure 1.
These initial sample results from the Kingston West and the Priority 1 Kingston Target areas have provided some ground truthing of the first of 23 New Exploration Targets defined by the structural study conducted by Murphy Geological Services.
Mr. Frank Rocca, Chief Geologist of Baru, commented, “These are exciting times for the exploration team as we seek to expand our knowledge of the CoW beyond the known Binebase-Bawone deposits for additional ore resources. I look forward to reporting the results of further Field Analysis by the exploration team in due course.”
Click Image To View Full Size
Figure 1. Quartz veinlet sample assayed as 14.60g/t Au & 4.00g/t Ag
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in 2022.
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 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
SKYG.v $SRKZF Neighbour in Que out with beefed up plans for the winter...STARR PEAK SECURES A THIRD DRILL RIG FOR ITS WINTER VTEM TARGETS DRILLING PROGRAM
by @newswire on 8 Feb 2022, 03:30
VANCOUVER, BC, Feb. 8, 2022 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTCQX: STRPF) has made arrangements to bring a third drill rig to its NewMétal property ("NewMétal" or "the Property"), with an estimated start date of February 10th. The rig will focus on high priority VTEM anomalies located on a projected extension of the Perron Eastern Gold Zone trend (Figure 1) onto the NewMétal property near the town of Normétal, Québec. Amex Exploration (January 11, 2022 news release) has identified the E3 Gold Zone which is consistent with a North-East trend and located approximately 1.5 kilometres West of the property boundary.
The ongoing drilling program continues to target both the Normetmar Deep Zone below 600m vertical depth and the 4 km long prolific Normetmar-Normétal lithological contact within the property, taking into account the many new massive sulphide intercepts in 2021. The Normetmar Deep Zone is located directly below the Normetmar high-grade zinc deposit and approximately one kilometre west of the historic Normétal Mine which produced ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag (Boivin, 1988).
Johnathan More, Chairman and CEO of Starr Peak commented, "We are very excited with the third drill coming in to focus on the numerous VTEM conductor anomalies in the vicinity of Amex Exploration's E3 Gold Zone. This will start our testing of the gold and massive sulphide mineralization potential of the northern part of the property."
Figure 1: Geological Map of the NewMétal property and its 2021 VTEM anomalies with respect to Amex Exploration’s Perron Project Eastern and E3 Gold Zones. (CNW Group/Starr Peak Mining Ltd.)
Figure 1: Geological Map of the NewMétal property and its 2021 VTEM anomalies with respect to Amex Exploration's Perron Project Eastern and E3 Gold Zones.
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 has not been validated otherwise than with the information inside historical reports and cross sections. Exact location of historical drill hole pierce points on the longitudinal may be different.
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/February2022/08/c9656.html
SKYG.v $SRKZF Neighbour in Que out with another batch of monster results...AMX.v $AMXEF
by @newsfile on 8 Feb 2022, 00:00
Amex Significantly Expands High Grade Zone Along Strike and Reports Drill Results of up to 78.62 g/t Au over 5.90 m
Highlights include:
Western (shallow) High Grade Zone
PE-21-366W1 returned 78.62 g/t Au over 5.90 m including 908.50 g/t Au over 0.50 m at a vertical depth of 630 m
PE-21-405 returned 43.74 g/t Au over 6.80 m including 583.34 g/t Au over 0.50 m at a vertical depth of 300 m
PE-21-410W1 returned 21.86 g/t Au over 5.56 m including 107.94 g/t Au over 1.05 m at a vertical depth of 630 m
PE-21-438 returned 123.53 g/t Au over 0.50 m at a vertical depth of 500 m
PE-21-452 returned 5.65 g/t Au over 9.95 m at a vertical depth of 360 m
Eastern (deeper) High Grade Zone
PE-21-404W2 returned 35.89 g/t Au over 6.75 m at a vertical depth of 940 m
PE-21-440W1 returned 16.66 g/t Au over 9.10 m including 160.04 g/t Au over 0.50 m and 96.79 g/t Au over 0.70 m at a vertical depth of 510 m
PE-21-404W1 returned 13.54 g/t Au over 10.50 m at a vertical depth of 980 m
PE-21-380 returned 16.18 g/t Au over 6.80 m including 134.92 g/t Au over 0.70 m at a vertical depth of 460 m
PE-21-412 returned 14.85 g/t Au over 5.00 m at a vertical depth of 330 m
PE-21-436 returned 29.80 g/t Au over 2.05 m at a vertical depth of 600 m
Montreal, Quebec--(Newsfile Corp. - February 8, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 34 drill holes focused on the expansion and definition of gold mineralization on High Grade Zone ("HGZ") of the Perron project ("Perron" or the "Project"). See Figure 1 for a plan view of the geology of the eastern portion of Perron and currently known mineralized zones including the HGZ. A complete list of results is available in Tables 1 & 2 and presented in Figures 2, 3, & 4.
Today's results consist of drill holes focused largely on expansion and definition of both the Eastern (deeper) and Western (shallower) portions of the HGZ. The HGZ now stands at more than 300 m along strike to a depth of 1,200 m. On the Western portion, as shown in Figures 2 & 3, Amex targeted on-strike expansion as well as infilling the lower portions of the zone, which resulted in a significantly increased strike length as indicated by holes PE-21-439 and PE-21-441 as well as an increase of grade as indicated by holes PE-21-405, PE-21-444, PE-21-438, PE-21-366W1, and PE-21-410W1. On the Eastern portion, as shown in Figures 2 & 4, Amex completed definition drilling within the core of the zone as well as on-strike expansion towards the late-stage diabase dike as indicated by holes PE-21-412, PE-21-419, PE-21-426, PE-21-380, PE-21-380W1, PE-21-442, and PE-21-417W2.
Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "As one can clearly see from the new longitudinal section, this batch of drill holes significantly expands the strike and the high grade core of the HGZ with a metal factor of more than 50 (g/t Au x core length in metres). As we tighten the drill spacing, we see the Western (shallower) zone developing a much higher grade profile than previously thought. We are also seeing a much larger envelope of gold mineralization surrounding the high-grade central core of the zone than previously thought. On the Eastern (deeper) portion of the zone, we are seeing consistent high-grade mineralization essentially from the top of the Eastern portion (~325 vertical metres) to the bottom of the defined area (~1,200 vertical metres) and are also expanding the horizontal footprint of the zone."
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2667/113052_fb45087534cf1ad3_002.jpg
Figure 1: Plan view of the geology of the eastern portion of the Perron Project and known mineralized zones, including the HGZ, Denise, E2, Donna, E3, Upper HGZ, 210, and the QF VMS.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2667/113052_fb45087534cf1ad3_002full.jpg
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2667/113052_fb45087534cf1ad3_003.jpg
Figure 2: Longitudinal Section of the HGZ Zone, with today's released hole locations in green.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2667/113052_fb45087534cf1ad3_003full.jpg
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2667/113052_fb45087534cf1ad3_004.jpg
Figure 3: Western Upper HGZ Longitudinal Section, with today's released hole locations in green.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2667/113052_fb45087534cf1ad3_004full.jpg
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2667/113052_fb45087534cf1ad3_005.jpg
Figure 4: Eastern Lower Portion HGZ Longitudinal Section, with today's released hole locations in green.
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/2667/113052_fb45087534cf1ad3_005full.jpg
Zone Hole ID From (m) To (m) Length (m) Au (g/t) Vertical
Depth
(m) Gold
Metal
Factor
(g/t*m)
Western HGZ PE-21-366W1 702.70 708.60 5.90 78.62 630.00 463.85
Including 702.70 703.20 0.50 908.50 454.25
PE-21-405 324.00 330.80 6.80 43.74 300.00 297.40
Including 325.00 325.50 0.50 583.34 291.67
PE-21-410W1 704.35 710.00 5.65 21.86 630.00 123.49
Including 704.35 705.40 1.05 107.94 113.34
PE-21-438 536.80 537.30 0.50 123.53 500.00 61.77
PE-21-452 391.90 401.85 9.95 5.65 360.00 56.21
Including 399.60 401.85 2.25 19.35 43.55
PE-21-444 467.80 482.00 14.20 3.51 455.00 49.88
Including 479.80 482.00 2.20 17.68 38.90
PE-21-450 435.15 441.10 5.95 6.77 395.00 40.27
Including 435.15 435.90 0.75 33.44 25.08
And 440.50 441.10 0.60 21.83 13.10
PE-21-424 392.50 400.80 8.30 2.60 360.00 21.55
PE-21-441 126.50 152.20 25.70 0.58 135.00 14.83
PE-21-439 150.50 152.00 1.50 9.50 135.00 14.26
PE-21-445 477.30 481.00 3.70 3.66 440.00 13.55
Including 478.60 479.10 0.50 15.71 7.86
PE-21-296 65.90 75.00 9.10 0.73 55.00 6.65
PE-21-396 796.90 804.40 7.50 0.77 720.00 5.78
PE-21-291 116.90 120.00 3.10 1.71 100.00 5.30
PE-21-401 233.65 240.00 6.35 0.70 210.00 4.43
Table 1: Results from the Western (shallower) portion of the HGZ. *Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be between 50 and 80 percent of core widths.
Zone Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Gold
Metal
Factor
(g/t*m)
Eastern HGZ PE-21-404W2 1043.00 1049.75 6.75 35.89 940.00 242.28
Including 1044.45 1045.00 0.55 90.70 49.88
And 1048.10 1049.25 1.15 163.29 187.78
PE-21-440W1 553.40 562.50 9.10 16.66 510.00 151.59
Including 553.40 553.90 0.50 160.04 80.02
And 561.80 562.50 0.70 96.79 67.75
PE-21-404W1 1075.50 1086.00 10.50 13.54 980.00 142.14
Including 1075.50 1076.50 1.00 52.95 52.95
And 1081.40 1083.50 2.10 40.48 85.01
PE-21-380 522.00 528.80 6.80 16.18 460.00 110.02
Including 522.00 522.70 0.70 134.92 94.44
And 528.00 528.80 0.80 17.75 14.20
PE-21-412 415.00 420.00 5.00 14.85 330.00 74.23
Including 418.75 419.50 0.75 89.62 67.22
PE-21-436 651.00 653.05 2.05 29.80 600.00 61.09
PE-21-417W2 808.65 815.05 6.40 5.77 710.00 36.90
Including 814.55 815.05 0.50 47.97 23.99
PE-21-434 1156.9 1163.1 6.20 4.87 1070.00 30.21
PE-21-434W1 1146 1153.45 7.45 2.83 1060.00 21.10
Including 1147.5 1148 0.50 32.24 16.12
PE-21-442 682.90 697.50 14.60 1.46 630.00 21.29
PE-21-426 475.10 483.00 7.90 2.31 405.00 18.26
Including 482.00 483.00 1.00 14.54 14.54
PE-21-440 528.25 531.05 2.80 5.43 480.00 15.21
Including 695.20 697.50 2.30 4.86 11.18
PE-21-380W1 504.00 506.10 2.10 6.51 435.00 13.68
PE-21-419 415.00 419.95 4.95 2.06 330.00 10.21
PE-21-400W1 433.70 435.50 1.80 4.48 360.00 8.06
Including 434.80 435.50 0.70 11.04 7.73
PE-21-417W1 794.30 803.20 8.90 0.88 700.00 7.81
PE-21-318W2 1190.50 1195.50 5.00 0.85 1100.00 4.24
PE-21-318W1 1194.95 1197.70 2.75 0.96 1100.00 2.64
PE-21-426W1 457.45 458.95 1.50 0.63 380.00 0.95
Table 2: Results from the Eastern (deeper) portion of the HGZ. *Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be between 50 and 80 percent of core widths.
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. Samples discussed in the press release were sent to Laboratoire Expert (Rouyn-Noranda) and AGAT Laboratories (Mississauga) for regional drilling 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 sample. For both laboratories, 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. Samples containing visible gold mineralization are analyzed by metallic sieve and just performed by Laboratoire Expert. 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. Copper and other elements were analyzed using the four-acid ICP-AES method by Laboratoire Expert. The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Persons believe 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, 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.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113052
BARU.v $BARUF Baru Gold Receives Completed Structural Study with 23 New Exploration Targets Identified
by @thenewswire on 7 Feb 2022, 04:30
(TheNewswire)
Baru Gold Corp.
Vancouver, BC – TheNewswire – Feb 7 2022 - Baru Gold Corp (the “Company” or “Baru”) (BARU:TSXV:BARU) (OTC:BARUF) is pleased to announce that the structural study commissioned back in October 2021 has been completed and received with 23 new exploration targets identified.
The Company appointed Murphy Geological Services (“MGS”) to conduct a structural study for the entire Sangihe Island Contract of Work (CoW) area which involved the acquisition, processing, and interpretation of Sentinel-2 and Hi-Res (WorldView, GeoEye and Pleiades) satellite imagery to develop a structural synthesis for the geological occurrence of known gold occurrences, and to establish a benchmark for future exploration.
The study was undertaken at 1:10,000-1:15,000 scale to establish the structural framework and generate targets for gold exploration. A high resolution (Hi-Res) mosaic for the Sangihe CoW was interpreted at up to 1:2,000 scale. The Sentinel-2 images were draped onto an ASTER based Global Digital Elevation Model (GDEM) to help accentuate topographically controlled structure and domal features. This has resulted in MGS identifying twenty-three new exploration targets in the Sangihe CoW.
The identification of the targets is based on criteria that includes the presence of major faults, inflections along major faults, major fault intersections, radial major/second order faults related to the Kakiraeng stratovolcano, location within the newly identified Kakiraeng-Taware Fault Zone (KTFZ) or along its bounding structures, domal/circular features, linear resistant features, eroded volcanic center/caldera rim, artisanal workings, prominent aeromagnetic lineaments, and proximity to known gold mineralization.
Twelve of the target areas are classified as Priority 1, eight have a Priority 2 ranking, and the remaining three target areas are classed as Priority 3. The next step will involve field analysis to verify the geometry and kinematics of the major structures identified from the satellite image interpretation. This will lead to “ground truthing” of the various targets, followed by benchmarking and comparison using standard exploration techniques to determine their individual prospectivity.
Mr. Terry Filbert, CEO of Baru, commented, “These are exciting times for the exploration team as we seek to expand our knowledge of the CoW beyond the known Binebase-Bawone deposits for additional ore resources. I look forward to reporting the results in due course.”
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 early 2022. Construction at Sangihe gold heap leach project is currently underway.
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 BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior near-term producer and 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Receives Completed Structural Study with 23 New Exploration Targets Identified
by @thenewswire on 7 Feb 2022, 04:30
(TheNewswire)
Baru Gold Corp.
Vancouver, BC – TheNewswire – Feb 7 2022 - Baru Gold Corp (the “Company” or “Baru”) (BARU:TSXV:BARU) (OTC:BARUF) is pleased to announce that the structural study commissioned back in October 2021 has been completed and received with 23 new exploration targets identified.
The Company appointed Murphy Geological Services (“MGS”) to conduct a structural study for the entire Sangihe Island Contract of Work (CoW) area which involved the acquisition, processing, and interpretation of Sentinel-2 and Hi-Res (WorldView, GeoEye and Pleiades) satellite imagery to develop a structural synthesis for the geological occurrence of known gold occurrences, and to establish a benchmark for future exploration.
The study was undertaken at 1:10,000-1:15,000 scale to establish the structural framework and generate targets for gold exploration. A high resolution (Hi-Res) mosaic for the Sangihe CoW was interpreted at up to 1:2,000 scale. The Sentinel-2 images were draped onto an ASTER based Global Digital Elevation Model (GDEM) to help accentuate topographically controlled structure and domal features. This has resulted in MGS identifying twenty-three new exploration targets in the Sangihe CoW.
The identification of the targets is based on criteria that includes the presence of major faults, inflections along major faults, major fault intersections, radial major/second order faults related to the Kakiraeng stratovolcano, location within the newly identified Kakiraeng-Taware Fault Zone (KTFZ) or along its bounding structures, domal/circular features, linear resistant features, eroded volcanic center/caldera rim, artisanal workings, prominent aeromagnetic lineaments, and proximity to known gold mineralization.
Twelve of the target areas are classified as Priority 1, eight have a Priority 2 ranking, and the remaining three target areas are classed as Priority 3. The next step will involve field analysis to verify the geometry and kinematics of the major structures identified from the satellite image interpretation. This will lead to “ground truthing” of the various targets, followed by benchmarking and comparison using standard exploration techniques to determine their individual prospectivity.
Mr. Terry Filbert, CEO of Baru, commented, “These are exciting times for the exploration team as we seek to expand our knowledge of the CoW beyond the known Binebase-Bawone deposits for additional ore resources. I look forward to reporting the results in due course.”
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 early 2022. Construction at Sangihe gold heap leach project is currently underway.
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 BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior near-term producer and 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
ILI.v $ARXRF Weekly TA,
Appears to be breaking out of the declining wedge ...ACC/DIS finally breaking in our favour , longer term indicators like PMO and KST still on buy signals, macd crossing signal crossing into buy territory well above the zero line https://schrts.co/bNNCGmeI
ILI.v $ARXRF Weekly TA,
Appears to be breaking out of the declining wedge ...ACC/DIS finally breaking in our favour , longer term indicators like PMO and KST still on buy signals, macd crossing signal crossing into buy territory well above the zero line https://schrts.co/bNNCGmeI
ILI.v $ARXRF Imagine Lithium Launches New Brand and Appoints Chief Financial Officer
by @newsfile on 1 Feb 2022, 04:00
Vancouver, British Columbia--(Newsfile Corp. - February 1, 2022) - INFINITE ORE CORP. (TSXV: ILI) (OTCQB: ARXRF) ("ILI" or the "Company") announces it will commence operations under the name Imagine Lithium Inc. ("Imagine Lithium"), effective today. The Company's common shares will trade on the TSX Venture Exchange under its existing ticker symbol "ILI".
The brand, Imagine Lithium, reflects the Company's focus on lithium exploration in the safe, environmentally conscious mining jurisdiction of Ontario, Canada. Imagine the economic stimulus and social benefits that lithium exploration and a future lithium mine can bring to the Nipigon region of Ontario. Imagine the environmental benefits that lithium brings to the global community as the world adopts clean electric vehicles powered by lithium-ion batteries. Imagine a global electrification strategy that uses lithium batteries to bring clean, reliable electricity to communities far and wide, fundamentally enhancing quality of life. The future is here. Imagine the possibilities. Imagine Lithium.
The new corporate website can be found at www.imaginelithium.com. Please visit the site to learn more about the Jackpot lithium property, where a 3,000 m drill program will be testing numerous known and newly identified dikes on the property. The program is expected to commence in February 2022.
In addition, the Company is pleased to announce the addition of Arvin Ramos as Chief Financial Officer as Mr. John Masters transitions into retirement. Mr. Ramos holds a degree in commerce and is a member of the Chartered Professional Accountants of Ontario. Mr. Ramos has over 17 years of business experience, having supported a broad range of industries, including mining, technology, and banking.
J.C. St. Amour, President and CEO of Imagine Lithium commented, "I am excited to be launching our new brand today. It's an electrifying time in the company as we refocus on our flagship asset, the Jackpot Lithium property. My team and I have been planning our winter exploration season and we are eager to get started and begin to unlock the lithium potential at Jackpot. I also am excited to be working with Arvin, a seasoned accounting professional, as John winds down his career in preparation for retirement. It has been a pleasure to work with John and I am happy to report that he will continue to assist the company on corporate matters as a consultant."
In connection with Mr. Ramos joining the Company, Imagine Lithium also wishes to announce that it has granted him 300,000 options to pursuant to its stock option plan. The options are exercisable for a period of 2 years from the date of grant at a price of $0.155 per option.
ABOUT IMAGINE LITHIUM INC.
Imagine Lithium Inc. is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ontario, which contains known pegmatite showings, including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, 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).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112260
ILI.v $ARXRF Infinite Ore to Change Name to Imagine Lithium Reflecting Focus on Lithium Exploration
by @newsfile on 26 Jan 2022, 04:00
Vancouver, British Columbia--(Newsfile Corp. - January 26, 2022) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) ("ILI" or the "Company") announces that effective Tuesday, February 1, 2022, the Company's name will be changed to "Imagine Lithium Inc." to better reflect its focused business strategy.
The Company's common shares will trade on the TSX Venture Exchange under its existing ticker symbol "ILI". There will be no changes to the Company's share structure. The company is currently rebranding its website and supporting marketing materials and expects to unveil its new corporate brand identity on February 1, 2022 in tandem with the name change.
About Imagine Lithium Inc.
Imagine Lithium Inc is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, 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).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111717
ILI.v $ARXRF Infinite Ore to Change Name to Imagine Lithium Reflecting Focus on Lithium Exploration
by @newsfile on 26 Jan 2022, 04:00
Vancouver, British Columbia--(Newsfile Corp. - January 26, 2022) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) ("ILI" or the "Company") announces that effective Tuesday, February 1, 2022, the Company's name will be changed to "Imagine Lithium Inc." to better reflect its focused business strategy.
The Company's common shares will trade on the TSX Venture Exchange under its existing ticker symbol "ILI". There will be no changes to the Company's share structure. The company is currently rebranding its website and supporting marketing materials and expects to unveil its new corporate brand identity on February 1, 2022 in tandem with the name change.
About Imagine Lithium Inc.
Imagine Lithium Inc is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, 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).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111717
SKYG.v $SRKZF Recent Struthers Resource Report fyi...SkyGold CSE: $SKYG Recent Price - $0.08 Entry Price - $0.17 Opinion – buy, average down to $0.12 Although $SKYG has a great property position close to New Found Gold, their first round of drilling did not hit any high grade at the Mustang property but did hit 32.85 meters of 0.78 g/t gold. They had some higher grade hits like 7 g/t and 5 g/t but only over 0.5 meters. Results were encouraging for a 1st round drill program. At their Evening Star property in Nevada, they completed one hole and drilling was suspending due to Covid19 issues. Drilling resumed early November and assays are pending for this drilling. Perhaps the best news is they got just over 6 million, 10 cent warrants extended with an expiry date of December 23, 2023, they originally expired December 23, 2021. Most likely the stock is going to be moved up to exercise these warrants, maybe with drill news? Besides these warrants, the stock chart looks really good. A bottom is in and not much resistance to go higher. Copyright 2022, Struther's Resource Stock Report
SKYG.v $SRKZF Recent Struthers Resource Report fyi...SkyGold CSE: $SKYG Recent Price - $0.08 Entry Price - $0.17 Opinion – buy, average down to $0.12 Although $SKYG has a great property position close to New Found Gold, their first round of drilling did not hit any high grade at the Mustang property but did hit 32.85 meters of 0.78 g/t gold. They had some higher grade hits like 7 g/t and 5 g/t but only over 0.5 meters. Results were encouraging for a 1st round drill program. At their Evening Star property in Nevada, they completed one hole and drilling was suspending due to Covid19 issues. Drilling resumed early November and assays are pending for this drilling. Perhaps the best news is they got just over 6 million, 10 cent warrants extended with an expiry date of December 23, 2023, they originally expired December 23, 2021. Most likely the stock is going to be moved up to exercise these warrants, maybe with drill news? Besides these warrants, the stock chart looks really good. A bottom is in and not much resistance to go higher. Copyright 2022, Struther's Resource Stock Report
RKL.ca Rockland Resources Obtains Surface Access at The Elektra Claystone Lithium Project In Sonora, Mexico
by @accesswire on 6 Jan 2022, 05:08
VANCOUVER, BC / ACCESSWIRE / January 6, 2021 / Rockland Resources Ltd. (the "Company" or "Rockland") ( CSE: RKL ) is pleased to announce it has obtained surface access rights to its recently acquired Elektra ("Elektra Project") claystone lithium project located in northern Sonora, Mexico. The Elektra Project is contiguous to the large advanced Sonora Lithium Project ("Sonora") being constructed by Bacanora Lithium Plc ("Bacanora") and Ganfeng Lithium Co., Ltd. ("Ganfeng") with lithium production anticipated in 2023.
Rockland's CEO, Mike England stated "With work permits in place and now surface access secured we are excited to move ahead on the Elektra Claystone Lithium Project in Mexico. Global demand for battery metals is at an all time high so our focus will be to advance Elektra expeditiously in 2022."
Rockland is assembling a team of industry professionals in both Mexico and Canada and is compiling all available historical data from the project to aid in determining a clear, concise exploration plan that is expected to commence this month.
Highlights of the Elektra Project:
Large property - the Elektra project comprises four exploration concessions totalling 41,818 hectares (418 square kilometers) in the northern portion of the Sonora, Mexico.
Drilling - Only a limited portion of the Agua Fria target has been drill tested to date. On the Agua Fria target, a total of 16 RC drill holes were completed between April and June 2017, comprising 1,762 meters. Drill results from this maiden drill program were encouraging with several intervals of greater than 900 ppm Li over widths of up to 90 meters. The best drill intercepts include hole AF 17-001 returning 1058 ppm Li over 33 meters from a depth of 3 meters; plus 21 meters averaging 1043 ppm Li from a depth of 54 meters, and in hole AF 17-014, from 0 to 24 meters, 1050 ppm Li over 24 meters. The Elektra Property has additional lithium anomaly targets on Tecolote that have not been drilled.
Knowledge and Data - the Elektra Project was initially evaluated in 2015 and the current Mexican owners, and members of the technical team, remain involved. Work conducted from 2015 to 2018 is readily available to the company and was completed to 43-101 standards and represents an opportunity to fast-track exploration activities on various targets on the Elektra Project.
Strategic Position - the Elektra Project concessions are contiguous to the north (Tecolote) and south (Tule) of Bacanora-Ganfeng's Sonora Property, on trend with the mineralized lithium-bearing clay units localised within volcaniclastic sediment successions in the basins. The Agua Fria target is located southwest of the Sonora Property and was the site of the discovery of significant lithium-bearing clay units in surface exposures and in reverse circulation (RC) drilling in 2016-2017.
The Agua Fria prospect, located within the Elektra concession, was interpreted as having similarities to the La Ventana Zone on the Sonora Property and is characterized by fine-grained minerals, a portion which contain lithium, providing significant potential to increase plant feed grades by beneficiation.
Garry Clark, P.Geo , a qualified person under National Instrument 43-101, has reviewed and approved the technical content of this news release as it pertains to the Elektra Lithium Property.
Lithium values and mineralization described on adjacent properties in similar rocks are not representative of the mineralization on the Elektra Project, and historical work and activities on the Elektra Project have not been verified and should not be relied upon.
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders.
On Behalf of the Board of Directors
Richard Sutcliffe
President and Director
For further information, please contact:
Mike England
Email: mike@engcom.ca
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Rockland Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/681217/Rockland-Resources-Obtains-Surface-Access-at-The-Elektra-Claystone-Lithium-Project-In-Sonora-Mexico
SKYG.v's $SRKZF Newfoundland neighbour out with another dazzler...
New Found Intercepts 98.13 g/t Au Over 3.85m at Golden Joint, Extending the High-grade Zone to 305m Vertical Depth
by @businesswire on 19 Jan 2022, 03:02
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from one diamond drill hole designed to expand the high-grade gold mineralization at the Golden Joint Zone centered approximately 1km north of the Keats Zone. This hole was drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway Project (“Queensway”), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220119005384/en/
Figure 1. Photo of mineralization from NFGC-21-401, approximately 450.40m down hole depth^ (Photo: Business Wire)
Figure 1. Photo of mineralization from NFGC-21-401, approximately 450.40m down hole depth^ (Photo: Business Wire)
Golden Joint Drill Result Highlights
Highlight interval is summarized below. Additional results are provided in Table 2.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-401
450.15
454.00
3.85
98.13
Golden Joint
Table 1: Highlight results from Golden Joint
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 70% to 90% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The interval of 98.13 g/t Au over 3.85m in NFGC-21-401 extends the high-grade gold zone at Golden Joint to a vertical depth of approximately 305m, extending the zone's vertical depth approximately 20m below the previously reported deepest intercept of 70.65 g/t Au over 5.25m in NFGC-21-386 (Figures 2 and 3).
The Golden Joint Zone remains open in all directions with additional results pending along approximately 250m of strike and to approximately 340m of depth (see Figure 2). Drilling is continuing with the objective of expanding this high-grade zone along strike and to depth.
Melissa Render, VP of Exploration for New Found, stated: "Assay results received to date at Golden Joint indicate a vertically plunging high-grade gold domain within a broad NW striking vein filled fault zone adjacent to the Appleton Fault Zone. Additionally, drilling continues to expand a conjugate, NE striking shallower high-grade system located to the east of Golden Joint (the "Golden Joint HW", Figure 3). Similar to the more advanced discoveries at Keats and Lotto, drilling at Golden Joint continues to demonstrate the presence of high-grade gold in a style of veining and mineralization consistent with an epizonal model of gold emplacement. Good vertical continuity is developing on this target and the tenor of gold speaks to the strength of the mineralizing system. We are excited to continue step out drilling targeting the expansion of this zone of high-grade gold mineralization, as well as to explore for additional mineralized structures proximate to this exciting discovery."
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-401
425.95
428.00
2.05
2.34
Golden Joint
And
432.60
435.15
2.55
1.05
And
438.95
445.00
6.05
3.05
And
450.15
454.00
3.85
98.13
Table 2: Summary of results reported in this release for Golden Joint
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 70% to 90% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-401
298.5
-46.5
492
658613
5428319
Table 3: Details of drill holes reported in this release
Discussion
The reported interval of 98.13 g/t Au over 3.85m is a weighted average of screen fire assay results received from ALS for the two half-core samples from this interval, and thus represents a whole-core assay result. The first half-core sample assayed 85.77 g/t Au and the second 111.44 g/t Au (see Table 4). On completion of the test program announced November 4 the Company anticipates returning to a protocol of primarily half-core sampling and reporting half-core assay results.
Hole No.
From (m)
To (m)
Interval
(m)1
Au (g/t)2 1st
Half-Core
Au (g/t)3 2nd
Half-Core
Au (g/t)4
Weighted Avg.
NFGC-21-401
425.95
428.00
2.05
1.03
4.21
2.34
And
432.60
435.15
2.55
0.95
1.14
1.05
And
438.95
445.00
6.05
2.91
3.35
3.05
And
450.15
454.00
3.85
85.77
111.44
98.13
Table 4: Half-Core Composite Comparison
^Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-401. 1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 70% to 90% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. 2Gold values reported are from the first sampled half of the core assayed at ALS. 3Gold values reported are from the second sampled half of the core assayed at ALS. 4Weighted average of both halves of the core comprising the sampled interval. Note that Golden Joint HW intervals from this hole have not yet been received and will be reported once available.
Queensway 400,000m Drill Program Update
Approximately 33% of the planned 400,000m program at Queensway has been drilled to date with approximately 30,515m of the core with pending assay results. Ten core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 70% to 90% of reported core lengths. Reported grades have not been capped. Assays are uncut, and calculated intervals are reported over a minimum length of 2.0m 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 g 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 with 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 3% of sample pulps are sent to secondary laboratories for check assays.
The test work program announced by the Company’s November 4th release is ongoing. The outcomes of all test work will be reported as soon as the outstanding data becomes available. While the test work program is in progress and for the purpose of reporting a whole core assay result, the Company collected the other half of the sampled core intervals through select mineralized domains. In addition to the one drill hole reported in tables 1, 2 and 4, nine additional mineralized domains were treated similarly, the results of which will be disclosed in the same way once available. For the mineralized domains being reported, samples of both the first half and second half of the core were submitted to ALS for screen fire assay. A weighted gold average for both core- halves was calculated and is reported in Tables 1, 2 and 4. It is not the intention for the Company to always release whole core assay results; certain gold grade composites will be reported on a whole-core basis to build additional confidence in selected mineralized zones. Following a pause late last year the Company anticipates a continuous ramp up in receipt and disclosure of drill results over the coming weeks and will consequently move towards the disclosure of larger batches of assay results in its news releases.
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 January 19, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 33% complete. The Company is well funded for this program with a current working capital balance of approximately $126 million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220119005384/en/
BARU.v $BARUF Baru Gold 2021 Operational Summary and 2022 Outlook
by @thenewswire on 18 Jan 2022, 06:30
(TheNewswire)
Baru Gold Corp.
January 18, 2022 – TheNewswire - Vancouver, BC - Baru Gold Corp. (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to provide stakeholders and shareholders with an operational summary for 2021 and an outlook for 2022.
2021 SUMMARY
Listing on US Exchange
Baru began trading on the OTCQB under the ticker symbol BARUF. The OTCQB is a US marketplace for entrepreneurial and development-stage US and international companies that are committed to providing a high-quality trading and information experience for their investors. The OTCQB is the middle tier of the three over-the-counter trading platforms.
Dead Rent Tax
In January, $356,000 (approximately Indonesian Rupiah 3.8 billion) in tax was paid to the representative office of the Ministry of Energy and Mineral Resources.
Work Program Approval by Indonesia Government
In January, the Company’s work plan and budget Rencana Kerja Angaran Belanja (“RKAB”) for PT Tambang Mas Sangihe (“TMS”) for 2021 was formally approved by the Ministry of Energy and Mineral Resources. The RKAB includes planning and proposed expenditures for construction, mining, production, community programs, environmental rehabilitation, and geological and geotechnical investigations for 2021 and beyond.
COVID-19 Impact
In July, Indonesia reported more than 2.5 million cases in total, with daily coronavirus infections reaching 50,000 cases. Compared with the winter peak of 11,000 new cases per day in January of 2021, the delta and lambda variants significantly impacted the spread of COVID-19 in Indonesia.
Baru Supports Indonesian Government in Lawsuit
Baru joined the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) in responding to a lawsuit filed in Jakarta. Baru was not named in the lawsuit, but the Company pro-actively and vigorously supported the MEMR. In that the lawsuit related to the mining permit granted to Baru’s 70-per-cent-owned subsidiary PT Tambang Mas Sangihe, the Jakarta Administrative Court approved the Company's request for permission to be present during court proceedings. Since August 2021, the Company was present for all court dates pursuant to the proceedings.
Production Licence
The Company applied for and received the upgrade of the Sangihe Gold Project’s Contract of Work (“CoW”) to a full production and export licence. Baru’s subsidiary TMS, the holder of the Sangihe CoW, submitted the application to the Ministry of Energy and Mineral Resources of North Sulawesi, Indonesia. The Company’s detailed works program and business plan (“DWP” and “BP” respectively) were approved by the Ministry of Energy and Mineral Resources at an open meeting attended by TMS and representatives of both Provincial and Central mines departments. To complete the licence upgrade on the Sangihe project, to Operation Production status, the Company needed and received final approval from the Minister of Energy and Mineral Resources. The licence upgrade allowed Baru to begin construction of the gold production facilities and infrastructure for the Sangihe project.
Appointment of New Directors
Baru appointed three new independent directors in 2021. The new board members bring decades of operational experience on heap leach technology and relationships with the financial markets.
In February, Mr. Joseph Keane was appointed to the board. Mr. Keane built metallurgical engineering and consulting firm KD Engineering & Co for an eventual sale to SS Metcon. Mr. Keane was instrumental in starting the first semi-autogenous copper sulphide flotation mill in the Philippines, doubling the production capacity of the largest gold mine in the Southeast Asian country. In addition, he was the project sponsor for China's largest gold heap leach mine (30,000 tonnes per day and 133,000 ounces gold per year) in Inner Mongolia, which was subsequently acquired by China Gold International and expanded to 250,000 ounces gold per year with a resource of over three million ounces.
In April, Mr. John Ellis joined the board. In the late 90’s, Mr. Ellis was the chairman and chief executive officer of Anglo Gold North America, setting up Anglo's gold-mining ventures in the Americas. He was responsible for gold exploration as well as the acquisition/operation of projects in the United States, Canada, and Mexico. He also provided guidance to Inco in Indonesia in the early 2000s for a large nickel laterite mine producing 160 million pounds of nickel annually. He is currently serving as a director of Jaguar Mining Inc., a mid-sized gold producer in the Americas.
In August, Mr. Colin Davies joined the board. A professional geologist by trade, Mr. Davies started his career at Anglo American as a gold mine geologist in South Africa at Vaal Reefs working on brownfield exploration. His travels took him across the world with BP Minerals for diamonds and ultimately to Jakarta, Indonesia, where he would spend nearly 30 years mainly in gold exploration. Early formative roles with Santa Fe Gold and the Pelsart Group led into senior management positions with global mining contractors before culminating with eight years at the J Resources Group, a US$300 million market capitalization mid-cap 150,000-ounce-per-annum gold producer.
Land Acquisition
Throughout 2021, after the production licence was granted, Baru has been actively working to acquire land from local residents to construct its mine. The commitment to sell most of the land targeted for acquisition in phase one by Baru was secured in September 2021. The Company has since focused its efforts confirming titles and preparing legal documents for closings on the purchase of the land. 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.
Baru is equally proud of the relationships it has built with the local residents who are fully supportive of the Company's initiatives which include the offering of jobs and business opportunities for the residents of the island. They welcome a fully engineered mining operation that has the full support of the federal government.
Sangihe Gold Project Construction Commences
In October, construction commenced at the Sangihe heap leach operation. Phase one consists of clearing land, building two 100,000-tonne heap leach pads, pit overburden removal, preparation of waste dumps, a crushing facility, and a processing plant area all with access to roads.
Private Placement
In October, Baru announced a private placement of $1.5 million and in November closed the oversubscribed financing raising $1.67 million. The funds will be used to further the exploration program and to provide support for the start-up of production at the Sangihe gold project.
Structural Study Commissioned
Also, in October, the Company appointed Murphy Geological Services (“MGS”) to conduct a structural study for the entire Sangihe Island Contract of Work (CoW) area. The draft study will be completed in January 2022. This effort will involve the acquisition, processing, and interpretation of Sentinel-2 and Hi-Res (WorldView, GeoEye and Pleiades) satellite imagery to develop a structural synthesis for the geological occurrence of known gold occurrences, and to establish a benchmark for future exploration targets.
Drilling Commences at Sangihe
On December 21st, Baru commenced the 25,000-metre exploration program with the arrival of the drill rig on Sangihe Island. To date the Company has prepared 27 drill pad sites which will be the focus of activity over the next two months.
Local Employees Hired
At the end of 2021, the Company had 80 island residents on payroll. This number does not include numerous secondary jobs created by the suppliers that support Baru’s business needs in the community. With the additional hires the Company expects the total number to exceed 150 employees over the next few months as it proceeds with construction, drilling, and other production activities.
OUTLOOK FOR 2022
The Company’s primary goal is to bring the measured and indicated resources to 1,000,000 ounces for the project. Construction activities will continue during the first quarter with production commencing shortly thereafter. The target will be to produce 1,000 ounces per month once 100% operational status has been achieved.
Baru expects 2022 to be exceptionally busy. Exploration drilling will happen in three phases. Phase-1 will be infill drilling between Binebase and Bawone, Phase-2 will be exploration drilling between Bawone and Salurang, and Phase-3 will be infill drilling between Bawone and Salurang.
The Company also plans exploration of the unexplored areas of the entire Sangihe Island Contract of Work (“CoW”) area using data from the structural study that is expected to be completed by end January 2022. The satellite imagery will be used to develop a structural synthesis for the geological occurrence of known gold occurrences, and to establish a benchmark for future exploration targets. This is only one technique that will utilized to further our gold discovery ambitions.
Mr. Terry Filbert, Chairman and CEO of Baru Gold, commented, “Despite ongoing uncertainties surrounding COVID-19 and seasonal delays due to weather and logistic issues in Indonesia, 2021 marked a transformative year of activities for Baru. With the oversubscribed financing we closed in Q4 2021, Baru is well positioned to proceed with drilling and continue its ongoing construction activities at the Sangihe gold project. In 2021 we laid the foundation for significant growth, and we are looking forward to 2022.”
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 early 2022. Construction at Sangihe gold heap leach project is currently underway.
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 BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior near-term producer and 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold 2021 Operational Summary and 2022 Outlook
by @thenewswire on 18 Jan 2022, 06:30
(TheNewswire)
Baru Gold Corp.
January 18, 2022 – TheNewswire - Vancouver, BC - Baru Gold Corp. (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to provide stakeholders and shareholders with an operational summary for 2021 and an outlook for 2022.
2021 SUMMARY
Listing on US Exchange
Baru began trading on the OTCQB under the ticker symbol BARUF. The OTCQB is a US marketplace for entrepreneurial and development-stage US and international companies that are committed to providing a high-quality trading and information experience for their investors. The OTCQB is the middle tier of the three over-the-counter trading platforms.
Dead Rent Tax
In January, $356,000 (approximately Indonesian Rupiah 3.8 billion) in tax was paid to the representative office of the Ministry of Energy and Mineral Resources.
Work Program Approval by Indonesia Government
In January, the Company’s work plan and budget Rencana Kerja Angaran Belanja (“RKAB”) for PT Tambang Mas Sangihe (“TMS”) for 2021 was formally approved by the Ministry of Energy and Mineral Resources. The RKAB includes planning and proposed expenditures for construction, mining, production, community programs, environmental rehabilitation, and geological and geotechnical investigations for 2021 and beyond.
COVID-19 Impact
In July, Indonesia reported more than 2.5 million cases in total, with daily coronavirus infections reaching 50,000 cases. Compared with the winter peak of 11,000 new cases per day in January of 2021, the delta and lambda variants significantly impacted the spread of COVID-19 in Indonesia.
Baru Supports Indonesian Government in Lawsuit
Baru joined the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) in responding to a lawsuit filed in Jakarta. Baru was not named in the lawsuit, but the Company pro-actively and vigorously supported the MEMR. In that the lawsuit related to the mining permit granted to Baru’s 70-per-cent-owned subsidiary PT Tambang Mas Sangihe, the Jakarta Administrative Court approved the Company's request for permission to be present during court proceedings. Since August 2021, the Company was present for all court dates pursuant to the proceedings.
Production Licence
The Company applied for and received the upgrade of the Sangihe Gold Project’s Contract of Work (“CoW”) to a full production and export licence. Baru’s subsidiary TMS, the holder of the Sangihe CoW, submitted the application to the Ministry of Energy and Mineral Resources of North Sulawesi, Indonesia. The Company’s detailed works program and business plan (“DWP” and “BP” respectively) were approved by the Ministry of Energy and Mineral Resources at an open meeting attended by TMS and representatives of both Provincial and Central mines departments. To complete the licence upgrade on the Sangihe project, to Operation Production status, the Company needed and received final approval from the Minister of Energy and Mineral Resources. The licence upgrade allowed Baru to begin construction of the gold production facilities and infrastructure for the Sangihe project.
Appointment of New Directors
Baru appointed three new independent directors in 2021. The new board members bring decades of operational experience on heap leach technology and relationships with the financial markets.
In February, Mr. Joseph Keane was appointed to the board. Mr. Keane built metallurgical engineering and consulting firm KD Engineering & Co for an eventual sale to SS Metcon. Mr. Keane was instrumental in starting the first semi-autogenous copper sulphide flotation mill in the Philippines, doubling the production capacity of the largest gold mine in the Southeast Asian country. In addition, he was the project sponsor for China's largest gold heap leach mine (30,000 tonnes per day and 133,000 ounces gold per year) in Inner Mongolia, which was subsequently acquired by China Gold International and expanded to 250,000 ounces gold per year with a resource of over three million ounces.
In April, Mr. John Ellis joined the board. In the late 90’s, Mr. Ellis was the chairman and chief executive officer of Anglo Gold North America, setting up Anglo's gold-mining ventures in the Americas. He was responsible for gold exploration as well as the acquisition/operation of projects in the United States, Canada, and Mexico. He also provided guidance to Inco in Indonesia in the early 2000s for a large nickel laterite mine producing 160 million pounds of nickel annually. He is currently serving as a director of Jaguar Mining Inc., a mid-sized gold producer in the Americas.
In August, Mr. Colin Davies joined the board. A professional geologist by trade, Mr. Davies started his career at Anglo American as a gold mine geologist in South Africa at Vaal Reefs working on brownfield exploration. His travels took him across the world with BP Minerals for diamonds and ultimately to Jakarta, Indonesia, where he would spend nearly 30 years mainly in gold exploration. Early formative roles with Santa Fe Gold and the Pelsart Group led into senior management positions with global mining contractors before culminating with eight years at the J Resources Group, a US$300 million market capitalization mid-cap 150,000-ounce-per-annum gold producer.
Land Acquisition
Throughout 2021, after the production licence was granted, Baru has been actively working to acquire land from local residents to construct its mine. The commitment to sell most of the land targeted for acquisition in phase one by Baru was secured in September 2021. The Company has since focused its efforts confirming titles and preparing legal documents for closings on the purchase of the land. 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.
Baru is equally proud of the relationships it has built with the local residents who are fully supportive of the Company's initiatives which include the offering of jobs and business opportunities for the residents of the island. They welcome a fully engineered mining operation that has the full support of the federal government.
Sangihe Gold Project Construction Commences
In October, construction commenced at the Sangihe heap leach operation. Phase one consists of clearing land, building two 100,000-tonne heap leach pads, pit overburden removal, preparation of waste dumps, a crushing facility, and a processing plant area all with access to roads.
Private Placement
In October, Baru announced a private placement of $1.5 million and in November closed the oversubscribed financing raising $1.67 million. The funds will be used to further the exploration program and to provide support for the start-up of production at the Sangihe gold project.
Structural Study Commissioned
Also, in October, the Company appointed Murphy Geological Services (“MGS”) to conduct a structural study for the entire Sangihe Island Contract of Work (CoW) area. The draft study will be completed in January 2022. This effort will involve the acquisition, processing, and interpretation of Sentinel-2 and Hi-Res (WorldView, GeoEye and Pleiades) satellite imagery to develop a structural synthesis for the geological occurrence of known gold occurrences, and to establish a benchmark for future exploration targets.
Drilling Commences at Sangihe
On December 21st, Baru commenced the 25,000-metre exploration program with the arrival of the drill rig on Sangihe Island. To date the Company has prepared 27 drill pad sites which will be the focus of activity over the next two months.
Local Employees Hired
At the end of 2021, the Company had 80 island residents on payroll. This number does not include numerous secondary jobs created by the suppliers that support Baru’s business needs in the community. With the additional hires the Company expects the total number to exceed 150 employees over the next few months as it proceeds with construction, drilling, and other production activities.
OUTLOOK FOR 2022
The Company’s primary goal is to bring the measured and indicated resources to 1,000,000 ounces for the project. Construction activities will continue during the first quarter with production commencing shortly thereafter. The target will be to produce 1,000 ounces per month once 100% operational status has been achieved.
Baru expects 2022 to be exceptionally busy. Exploration drilling will happen in three phases. Phase-1 will be infill drilling between Binebase and Bawone, Phase-2 will be exploration drilling between Bawone and Salurang, and Phase-3 will be infill drilling between Bawone and Salurang.
The Company also plans exploration of the unexplored areas of the entire Sangihe Island Contract of Work (“CoW”) area using data from the structural study that is expected to be completed by end January 2022. The satellite imagery will be used to develop a structural synthesis for the geological occurrence of known gold occurrences, and to establish a benchmark for future exploration targets. This is only one technique that will utilized to further our gold discovery ambitions.
Mr. Terry Filbert, Chairman and CEO of Baru Gold, commented, “Despite ongoing uncertainties surrounding COVID-19 and seasonal delays due to weather and logistic issues in Indonesia, 2021 marked a transformative year of activities for Baru. With the oversubscribed financing we closed in Q4 2021, Baru is well positioned to proceed with drilling and continue its ongoing construction activities at the Sangihe gold project. In 2021 we laid the foundation for significant growth, and we are looking forward to 2022.”
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 early 2022. Construction at Sangihe gold heap leach project is currently underway.
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 BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior near-term producer and 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.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
SKYG.v $SRKZF Perron neighbour out with a sweet raise...AMX.v AMEX Announces C$33.7 Million Bought Deal Private Placement ... 7,000,000 flow-through common shares (the “Flow-Through Shares”) of the Company, at a price per Flow-Through Share of $4.82 (the “Issue Price”), for gross proceeds of C$33,740,000 (the "Offering")...by @nasdaq on 17 Jan 2022, 13:00
AMEX Announces C$33.7 Million Bought Deal Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (“Amex” or the “Company”) (TSXV: AMX) is pleased to announce that it has entered into an agreement with PI Financial Corp. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 7,000,000 flow-through common shares (the “Flow-Through Shares”) of the Company, at a price per Flow-Through Share of $4.82 (the “Issue Price”), for gross proceeds of C$33,740,000 (the "Offering").
The Flow-Through Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)).
The Company has also granted the underwriters an option to purchase up to an additional 15% Flow-Through Shares to cover over-allotments, exercisable in whole or in part at any time prior to the closing date of the Offering.
The gross proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures on Amex’s properties located in Quebec.
The Offering is scheduled to close on or about February 15, 2022, or such other date as agreed between the Company and the underwriters, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.
In connection with the Offering, the underwriters will receive on closing of the Offering a cash commission of 6.0% of the gross proceeds of the Offering, other than for purchasers on a president’s list, for which a cash fee of 3.0% of the aggregate proceeds of the Flow-Through Shares will be paid. The same commission shall be paid to the underwriters in connection with any Flow-Through Shares issued or sold pursuant to the exercise of the underwriters’ option.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 statements which may constitute “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws, including statements regarding the completion of the Offering and the use of proceeds. 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 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 obtain any necessary regulatory approvals, the termination of the agreement governing the Offering, 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.
ILI.v $ARXRF Infinite Ore Announces Drilling Program at Jackpot Lithium Project
by @newsfile on 17 Jan 2022, 04:24
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2022) - Infinite Ore Corp. (TSXV: ILI) (OTCQB:ARXRF) (the "Company" or "Infinite") is pleased to announce a 3,000 m drilling program on its Jackpot Lithium Project. The company has contracted Niigaani Drilling Incorporated who will begin the program in early February.
J.C. St-Amour, President of Infinite Ore commented, "We are pleased to have secured a contract with Niigaani Drilling who have experience drilling lithium pegmatite dykes such as those at Jackpot. The Jackpot property hosts a swarm of stacked granitic pegmatites rich in spodumene, the primary source of lithium. The drill program will expand on drilling conducted in 2018, test the eastern and western extensions of the dykes, as well as other zones of interest with lithium bearing showings in the area." (See Figure 1).
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2962/110454_5ae58bf7c46e1bf7_002.jpg
Figure 1. Location of the Jackpot Spodumene bearing granitic dykes.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2962/110454_5ae58bf7c46e1bf7_002full.jpg
Highlights from past drilling included (see Press Releases dated April 18, 2018 and December 13, 2018):
J-18-04: 7.23m at 2.47% Li2O including 2.00m of 4.48% Li2O
J-18-06: 7.00m at 1.60% Li2O, including 3.00m of 2.30% Li2O
J-18-12: 9.00m at 1.34% Li2O, including 1.00m of 2.36% Li2O and 1.00m of 2.39% Li2O
J-18-13: 5.00m of 3.02% Li2O, including 1.00m of 5.11% Li2O
JS-18-01A: 19.80m at 1.27% Li2O including 7.00m of 1.63% Li2O
JS-18-01B: 14.60m at 1.05% Li2O including 4.00m of 2.09% Li2O
JS-18-02A: 17.20m at 1.24% Li2O including 5.00m of 2.09% Li2O
JS-18-02B: 13.05m at 1.25% Li2O including 2.00m of 2.63% Li2O
J-18-52: 22.45m at 1.27% Li2O including 7.00m of 2.27% Li2O
Infinite completed 53 drill holes (9,496 m) in its long-hole program and eight (8) drill holes (298 m) from its short-hole program in 2018. The long-hole program was aimed at surface, near-surface, and deeper spodumene bearing pegmatites of the Main Zone Dike whereas the short-hole program was focused exclusively on delineating surface and near-surface pegmatites.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property reveals two granitic pegmatite dykes providing estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently acquired additional claims exposing lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P. Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, 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).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110454
SKYG.v's $SRKZF Newfoundland neighbour out with another sweet hit...
New Found Intercepts 56.69 g/t Au Over 2.45m at the New Keats Footwall Zone Discovery
by @businesswire on 13 Jan 2022, 03:00
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from one diamond drill hole designed to expand the newly discovered high-grade gold zone found in the Keats footwall. This hole was drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway Project (“Queensway”), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220113005349/en/
Figure 1a. Photo of mineralization from NFGC-21-407, approximately 394m down hole depth^ (Photo: Business Wire)
Figure 1a. Photo of mineralization from NFGC-21-407, approximately 394m down hole depth^ (Photo: Business Wire)
Keats Footwall Zone Drill Result 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-21-407
393.55
396.00
2.45
56.69
Keats FW
Table 1: Highlight results from Keats Footwall
The interval of 56.69 g/t Au over 2.45m in drill hole NFGC-21-407 was intersected at the new Keats Footwall Discovery (see October 13, 2021 news release). This high-grade gold vein is interpreted to be connected to the mineralization encountered in hole NFGC-21-238 which intercepted 88.53 g/t Au over 3.35m thereby extending the vein 20m south; it remains open in all directions. (Figures 2, 3 and 4).
NFGC-21-407 intersected a second gold-bearing vein in the Keats Footwall Zone. This newly discovered vein assayed 4.89 g/t Au over 2.90m and it also remains open in all directions (Figure 3).
Orientation data collected from the optical televiewer image indicates that the high-grade veins are approximately parallel and dip moderately to the southwest. Follow-up drilling is underway targeting the extensions of these veins and to confirm their geometry.
Melissa Render, VP of Exploration for New Found Gold, stated: “It is not surprising that we are encountering new orientations of high-grade gold veins within this highly prospective domain of rock located between the Keats Main Zone and the Appleton Fault Zone. This area is of high-priority because it is evident that it has been subjected to the same gold-bearing fluids and related deformation responsible for producing the Keats Main Zone. The data we are collecting allows us to model and accurately project these high-grade veins which is used in our drill hole planning and ultimately increases our success rate for intersecting them. It is an exciting target and this discovery along with the gained knowledge is critical for exploration achievement; work going forward will look for these vein orientations and more importantly, their intersections with other high-grade gold vein orientations. We currently have one drill dedicated to exploring along strike of this intercept in the footwall domain with more drills on the way.”
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)*
Au (g/t)****
Zone
NFGC-21-407
NSV
Keats Main
And
393.55
396.00
2.45
56.69
Keats FW
And
410.00
412.90
2.90
4.89
And
413.85
416.30
2.45
1.94
And
417.30
419.90
2.60
1.10
Table 2: Summary of results reported in this release for Keats
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-407
296
-57
467
658109
5427123
Table 3: Details of drill holes reported in this release
Discussion
The test work program announced by the Company’s November 4th release is ongoing. The outcomes of all test work will be reported as soon as the outstanding data becomes available.
While the test work program is in progress and for the purpose of reporting a whole core assay result, the Company collected the other half of the sampled core intervals through select mineralized domains. In addition to the one drill hole reported in tables 1, 2 and 4, ten additional mineralized domains were treated similarly, the results of which will be disclosed in the same way once available. For the mineralized domains being reported, samples of both the first half and second half of the core were submitted to ALS for screen fire assay. A weighted gold average for both core- halves was calculated and is reported in Tables 1,2 and 4.
Table 4 compares the composite gold grade of each half of the core when reviewed independently. Note that for the results reported, the highest-grade samples had higher grades reported for the first half of the core. This differs from the results released on January 6, 2022, where the highest-grade samples were reported in the second half of the core. Given the nuggety nature of the gold mineralization at Queensway, significant differences are expected between each half-core assay. As noted, the test program announced by the Company on November 4, 2021 is designed to statistically assess differences in half core results and to assess any potential bias in the results, with results from this test work anticipated in the next several weeks.
It is not the intention for the Company to always release whole core assay results; certain gold grade composites will be reported on a whole-core basis to build additional confidence in selected mineralized zones.
Following a pause late last year the Company anticipates a continuous ramp up in receipt and disclosure of drill results over the coming weeks and will consequently move towards the disclosure of larger batches of assay results in its news releases.
Hole No.
From (m)
To (m)
Interval
(m)*
Au (g/t)**
1st Half-Core
Au (g/t)***
2nd Half-
Core
Au (g/t)****
Weighted
Avg.
NFGC-21-407
393.55
396.00
2.45
91.80
17.95
56.69
And
410.00
412.90
2.90
4.28
5.32
4.89
And
413.85
416.30
2.45
1.51
2.32
1.94
And
417.30
419.90
2.60
1.31
0.91
1.10
Table 4: Half-Core Composite Comparison
Queensway 400,000m Drill Program Update
Approximately 33% of the planned 400,000m program at Queensway has been drilled to date with approximately 29,700m of the core with pending assay results. Ten core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Notes
*Orientations of the mineralized intervals have insufficient information at this time to determine a true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
** Gold values reported are from the first sampled half of the core and was assayed at ALS.
***Gold values reported are from the second sampled half of the core and was assayed at ALS.
****Gold values reported are a weighted average of both halves of the core comprising the sampled interval.
^Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-407.
Sampling, Sub-sampling and Laboratory
True widths of the intercepts reported in this press release have yet to be determined due to insufficient orientation data at this time. Reported grades have not been capped. Assays are uncut, and calculated intervals are reported over a minimum length of 2.0m 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 g 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 with 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 3% of sample pulps are sent to secondary laboratories for check assays. See also the Company's November 4, 2021, news release regarding work to assess the presence and source of variability relating to core samples submitted to Eastern Analytical. The test work program announced in the Company’s November 4th release is ongoing. The Company anticipates receiving results from lab work undertaken for this program in January 2022 and will report findings based on these results from its independent consultants shortly thereafter.
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 January 13, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 33% complete. The Company is well funded for this program with a current working capital balance of approximately $130 million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220113005349/en/
SKYG.v's $SRKZF Virginia claimblock neighbour out with another sweet hit...Labrador Gold Intersects 50.52 g/t Gold Over 2 Metres at Kingsway
by @nasdaq on 12 Jan 2022, 08:00
TORONTO, Jan. 12, 2022 (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 along the Appleton Fault Zone at its 100% controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s ongoing 50,000 metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.
High grade gold continues to be found at Big Vein including intercepts of 50.52 g/t Au over 2m in hole K-21-76 from the HTC Footwall Zone. A deeper (200m to 201m) intercept of 15.86 g/t Au over 1 m from the same hole appears to be from a new zone. Approximately 135 metres along strike to the southwest, Hole K-21-74 intersected 2.86 g/t Au over 25m including 16.21g/t Au over 1m and 5.7g/t over 7m in a possible new zone in the immediate footwall to the Big Vein Zone. Testing further to the Southwest along Big Vein indicates consistent increased width of mineralization in the Big Vein zone as shown here by Hole K-21-75, that intersected 3.33 g/t Au over 4m within a larger intercept of 12m grading 1.62 g/t Au from 28m.
“Drilling at Big Vein continues to turn up high grade gold mineralization both down plunge and along strike. Two potential new zones are indicated by these results and grade 15.86 g/t Au over 1m in Hole K-21-76 and 16.21 g/t Au over 1m within a larger 29m interval in hole K-21-74 located 135m along strike to the southwest,” said Roger Moss, President and CEO of the Company. “We are very encouraged by the thickening of the Big Vein Zone to the southwest and look forward to results from many more holes drilled in this area. Drilling continues along strike to the southwest and down plunge at Big Vein. Drilling is also ongoing at the Pristine Target from which we are still awaiting the first assays.”
Hole ID From (m) To (m) Width (m) Au (g/t) Zone
K-21-76 24 25 1 1.1 Big Vein
132 143 11 1.44
175 177 2 50.52 HTC Footwall
183 192 9 1.28
199 201 2 8.91
including 200 201 1 15.86 New Zone
K-21-75 13 14 1 3.15 Big Vein
28 40 12 1.62
including 28 32 4 3.33
K-21-74 68 69 1 8.98 Big Vein
202 227 25 2.86 New Zone
including 202 203 1 16.21
and 207 211 4 2.63
and 214 221 7 5.7
K-21-73 76 88 12 1.09 Big Vein
K-21-68 67 68 1 1.72 Big Vein
211 215 4 3.4 HTC
K-21-66 7 9 2 1.16 Big Vein
14 16 2 1.45
18 19 1 1.3
38 48 10 1.65
81 82 1 1.5
210 211 1 4.43 HTC
Table 1. Summary of Assay Results
All intersections are downhole length as there is insufficient Information to calculate true width.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/35ca1eb1-410a-4400-8f1f-6ad6f95584b1
https://www.globenewswire.com/NewsRoom/AttachmentNg/d32a1500-62b5-464c-bfd7-6aa35986e246
Hole ID Easting Northing Elevation Azimuth Inclination Depth (m)
K-21-76 661574.3 5435213.9 40.3 102 64 225.66
K-21-75 661435.5 5435096.1 40.0 145 45 185
K-21-74 661442.4 5435186.6 50.5 130 50 329
K-21-73 661436.2 5435096.7 39.9 165 72 272
K-21-68 661442.0 5435186.7 50.5 130 55 377
K-21-66 661435.5 5435096.1 40.0 165 55 305
Table 2. Drill hole collar details
Big Vein target
The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres 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 1.87g/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. Drilling has produced 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.
The ongoing 50,000 metre drill program has now tested Big Vein over approximately 250 metres of strike length and to vertical depths of 200 metres. A total of 26,767 metres of the 50,000 metres have been completed in 116 holes primarily at Big Vein. Drilling at the new “Pristine” target began in November and nine holes totaling 2,229 metres have been drilled to date. Assays have been received for 59% of samples submitted to the laboratory or approximately 15,800 metres of core.
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ and NQ 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 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $30 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 153,711,033 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
WHN.v +1 Million Ounces of Gold Delineated at Shovelnose
Taylor Combaluzier | Mining Analyst research@redcloudsecurities.com Exploration Update
January 11, 2022 Impact: Positive
Westhaven announced a maiden I&I mineral resource estimate (MRE) for its 100%-owned Shovelnose gold project totalling 1.05M oz Au and 4.92M oz Ag (~1.2M oz AuEq). We view this MRE positively as it beat our mineral inventory estimate for the South Zone of ~916k oz AuEq. We are also impressed that the company achieved its target of delivering a maiden resource by early 2022 – particularly given the weather and fire-related challenges it faced last year in southern B.C.
https://cdn-ceo-ca.s3.amazonaws.com/1gtr6g5-20220110-WHN-Update-1.pdf
SKYG.v $SRKZF neighbour in the Abitibi region of Que. out with some solid news...
by @newswire on 11 Jan 2022, 05:00
STARR PEAK REPORTS VMS INTERCEPTS OF 8.98% ZINC-EQUIVALENT OVER 9.85 METRES AND 1.28% COPPER OVER 7.20 METRES
VANCOUVER, BC, Jan. 11, 2022 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTCQX: STRPF) is pleased to announce drill results from the 2021 drilling campaign on its NewMétal property ("NewMétal" or "the Property"), located in the Abitibi Greenstone Belt of Québec near the town of Normétal. The ongoing drill program targets the Normetmar Upper and Deep zones, located directly below the Normetmar high grade zinc deposit and approximately one kilometre West of the historic Normétal Mine which produced ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag (Boivin, 1988). See below Table 1, Table 2 and Figure 1 showing assay results to date and Zinc Equivalent (Zn_Eq) calculations for mineralized intervals.
Highlights
Upper Zone (above 400m vertically)
STE-21-73: 5.90 m of 6.04 % ZnEq
Deep Zone (below 400m vertically)
STE-21-82-W1: 9.85 m of 8.98 % ZnEq, incl. 0.82% Cu;
STE-21-81: 7.20 m of 5.14 % Zn Eq, incl. 1.28% Cu
Johnathan More, Chairman and CEO of Starr Peak commented, "The Deep Zone drilling continues to deliver significant copper mineralization zonation. Ongoing drilling of the Deep Zone and related targets is adding to our understanding of this large VMS mineralized system which remains open for extensions in several directions. We are also very excited about the planned drill testing of gold targets this winter, which has been our intention for a long time."
Table 1 – Deep Zone
Zone
Hole No.
From
(m)
To
(m)
Length
(m)
Zn
(%)
Cu
(%)
Ag
(g/t)
Au
(g/t)
Zn_Eq
(%)*
Deep
STE-21-82-W1
822.05
831.90
9.85
4.76
0.82
41.99
0.24
8.98
Incl.
822.05
827.25
5.20
2.69
1.47
64.19
0.40
9.81
STE-21-81
666.40
673.60
7.20
0.56
1.28
14.88
0.18
5.14
Incl.
942.55
945.15
2.60
5.93
0.11
15.71
0.09
6.93
STE-21-68
743.15
749.30
6.15
3.62
0.36
14.94
0.11
5.39
Incl.
746.80
749.30
2.50
7.67
0.27
10.54
0.09
8.98
STE-21-68-W1
728.80
734.50
5.70
3.36
0.33
7.96
0.06
4.68
Incl.
733.15
734.50
1.35
10.53
1.23
27.94
0.17
15.35
STE-21-68-W2
709.95
713.45
3.50
3.21
1.98
28.48
0.36
10.65
Incl.
711.40
713.45
2.05
4.73
2.99
42.69
0.54
15.94
STE-21-70
526.20
528.40
2.20
0.59
0.01
4.58
0.01
0.79
STE-21-74
825.40
827.50
2.10
4.41
0.90
29.31
0.35
8.68
STE-21-77-W1
724.70
729.40
4.70
0.36
0.01
7.18
0.02
0.64
Intervals are reported as drill core lengths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below
Table 2 – Upper Zone
Zone
Hole No.
From
(m)
To
(m)
Length
(m)
Zn
(%)
Cu
(%)
Ag
(g/t)
Au
(g/t)
Zn_Eq
(%)*
Upper
STE-21-73
426.90
432.80
5.90
4.93
0.09
20.92
0.10
6.04
Incl.
426.90
428.70
1.80
6.84
0.07
33.10
0.14
8.36
Incl.
431.30
432.80
1.50
8.60
0.08
9.95
0.13
9.41
STE-21-62
416.80
423.15
6.35
0.28
0.01
1.22
0.02
0.38
STE-21-63
395.00
398.00
3.00
0.23
0.00
0.71
0.01
0.28
STE-21-65
343.30
347.15
3.85
1.88
0.26
5.13
0.04
2.90
STE-21-65
353.55
358.60
5.05
2.04
0.05
7.23
0.03
2.45
STE-21-67
430.20
430.50
0.30
0.06
0.24
14.60
0.04
1.27
Intervals are reported as drill core lengths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below
Drilling will resume on the project this week following the holiday break, targeting the Deep Zone below 600m vertical depth. A second drill will continue targeting the 4 km long prolific Normetmar-Normétal lithological contact within the property, taking into account the many new massive sulphide intercepts in 2021.
Additionally, gold targets located in the northern half of the Newmétal property will be drill tested in early 2022, with cold weather facilitating access to certain areas.
Figure 1: Longitudinal Section of Normetmar Satellite Deposit trend at depth. Drilling targets represented by a red star. Historical Drill Intercepts area provided in Zinc-Equivalent calculated using the formula in references. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn – Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under 75%), Tr – Traces, EOH – End of Hole.
Figure 1: Longitudinal Section of Normetmar Satellite Deposit trend at depth. Drilling targets represented by a red star. Historical Drill Intercepts area provided in Zinc-Equivalent calculated using the formula in references. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn – Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under 75%), Tr – Traces, EOH – End of Hole. (CNW Group/Starr Peak Mining Ltd.)
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 has not been validated otherwise than with the information inside historical reports and cross sections. Exact location of historical drill hole pierce points on the longitudinal may be different.
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/January2022/11/c9897.html