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WHN.v $WTHVF Stockwatch Gold Summary for Jan. 10, 2022
2022-01-10 19:00 ET - Market Summary
by Stockwatch Business Reporter
Speaking of resource estimates, Gareth Thomas's Westhaven Gold Corp. ( $WHN ) jumped 6.5 cents to 48.5 cents on 156,000 shares on the heels of a maiden resource estimate for the South zone at the Shovelnose project, near Merritt in British Columbia. The calculation lists 10.59 million tonnes indicated at 2.32 grams of gold and 11.43 grams of silver per tonne, plus 9.18 million tonnes inferred at 0.99 gram of gold and 3.47 grams of silver per tonne -- a total of 1.05 million ounces of gold and 4.9 million ounces of silver.
Mr. Thomas, president and CEO, was "pleased to report a starting inventory of over a million ounces of gold from the first of multiple mineralized zones" at Shovelnose. An expansion and exploration drill program will begin shortly, he says, work that will focus on the FMN zone where high-grade mineralization was intersected last year. That hit, completed last spring, saw a 15.97-metre interval return an average of 9.15 grams of gold and 27.43 grams of silver per tonne.
As well, enthuses Mr. Thomas, targeting new discoveries on undrilled exploration targets within the large, underexplored property will also remain a "key focus" going forward at Shovelnose -- a claim that would seemingly relegate the company's unqualified focus on FMN to one of lesser importance. (In the dialect of promoterese spoken along Howe Street, the frequency of puffy adjectives is often indirectly proportional to the merits of the prospect.)
WHN.v Stockwatch Gold Summary for Jan. 10, 2022
2022-01-10 19:00 ET - Market Summary
by Stockwatch Business Reporter
Speaking of resource estimates, Gareth Thomas's Westhaven Gold Corp. ( $WHN ) jumped 6.5 cents to 48.5 cents on 156,000 shares on the heels of a maiden resource estimate for the South zone at the Shovelnose project, near Merritt in British Columbia. The calculation lists 10.59 million tonnes indicated at 2.32 grams of gold and 11.43 grams of silver per tonne, plus 9.18 million tonnes inferred at 0.99 gram of gold and 3.47 grams of silver per tonne -- a total of 1.05 million ounces of gold and 4.9 million ounces of silver.
Mr. Thomas, president and CEO, was "pleased to report a starting inventory of over a million ounces of gold from the first of multiple mineralized zones" at Shovelnose. An expansion and exploration drill program will begin shortly, he says, work that will focus on the FMN zone where high-grade mineralization was intersected last year. That hit, completed last spring, saw a 15.97-metre interval return an average of 9.15 grams of gold and 27.43 grams of silver per tonne.
As well, enthuses Mr. Thomas, targeting new discoveries on undrilled exploration targets within the large, underexplored property will also remain a "key focus" going forward at Shovelnose -- a claim that would seemingly relegate the company's unqualified focus on FMN to one of lesser importance. (In the dialect of promoterese spoken along Howe Street, the frequency of puffy adjectives is often indirectly proportional to the merits of the prospect.)
WMG.v Westhaven Gold Completes Initial Mineral Resource Estimate of 841,000 Indicated Ounces at 2.47 g/t Gold Equivalent and 277,000 Inferred Ounces at 0.94 g/t Gold Equivalent on the Shovelnose Gold Property
by @nasdaq on 10 Jan 2022, 04:30
VANCOUVER, British Columbia, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce the results from its Mineral Resource Estimate (MRE) at its 100% owned 17,623-hectare Shovelnose Gold Property. The Shovelnose Gold Property is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 km south of the City of Merritt, British Columbia (Canada).
The initial open-pit constrained MRE reported below (Table 1) is of the South Zone, and was completed by P&E Mining Consultants Inc., based on a total of 145 surface drill holes (56,491 m), 25,920 drill core analyses, 3,302 bulk density measurements, and preliminary metallurgical testwork.
Shovelnose South Zone MRE Highlights:
791,000 ounces of gold and 3,894,000 ounces of silver Indicated.
263,000 ounces of gold and 1,023,000 ounces of silver Inferred.
75% of the MRE in the higher confidence Indicated classification: 10.60 million tonnes at 2.47 g/t for 841,000 gold equivalent (AuEq) ounces.
Average AuEq grade of Indicated MRE is 7 times higher than the cut-off grade, demonstrating excellent potential for future economic extraction (Table 2).
Indicated mineralization is largely associated with the individual vein zones, whereas the Inferred is associated with the broader Veinlet Domain (please see Figure 1).
This MRE is based on potential open-pit extraction – an MRE based on potential underground mining is in preparation and will be reported in the coming months.
South Zone is just one of the many known mineralized zones on the Shovelnose Gold Property.
Shovelnose is situated off a major highway, near grid power, rail, large producing mines, and within easy commuting distance from the City of Merritt.
Westhaven CEO and President, Gareth Thomas, notes “This is the first Mineral Resource Estimate on the Shovelnose Gold Property, and we are pleased to report a starting inventory of over a million ounces of gold from the first of multiple mineralized zones. It is important to highlight that 75% of this Mineral Resource is in the Indicated classification and grades 2.47 g/t AuEq. Our technical team sees significant Mineral Resource expansion potential along this key trend (see Figure 3 & 4). The 2022 expansion and exploration drill program will begin shortly, focusing on the FMN Zone, where high-grade gold mineralization (15.97 metres of 9.15 g/t Au) was intersected in drilling last year. Targeting new discoveries on undrilled exploration targets within this large, underexplored property will also remain a key focus going forward.”
Investor and Analyst Webinar:
Westhaven Gold welcomes investors and analysts to join President & CEO Gareth Thomas for a webinar Monday, January 10, 2022, at 2pm ET (11 am PT), to discuss the results of the 2022 Maiden Resource Estimate. Please register at: https://bit.ly/westhaven-resource-estimate-webinar
Table 1
Shovelnose South Zone Pit Constrained Mineral Resource Estimate @ 0.35 g/t AuEq Cut-off (1-15)
Classification Tonnes
(k) Au
(g/t) Contained Au
(koz)
Ag
(g/t) Contained Ag
(koz) AuEq
(g/t) Contained AuEq
(koz)
Indicated 10,592 2.32 791 11.43 3,894 2.47 841
Inferred 9,177 0.89 263 3.47 1,023 0.94 277
1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
4. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
5. Wireframe constrained assays were composited to 1.0m lengths and subsequently capped between no cap to 95 g/t for Au and no cap to 290 g/t for Ag.
6. Grade estimation was undertaken with ID3interpolation.
7. Wireframe constrained bulk density was determined from 1,179 samples. Mineralization bulk density for veins is 2.54 t/m3, for the Veinlet Domain 2.52 t/m3, and for overburden 2.0 t/m3.
8. Au and Ag process recovery value was 95%.
9. US$ metal prices used were $1,675/oz for Au and $21.50/oz for Ag with a USD:CD FX of 0.77.
10. CDN$ operating costs used were $3/t mineralized material mining, $2.50/t waste mining, $2.00/t overburden mining, $18/t processing and $5/t G&A.
11. Pit slopes were 50º in rock and 30º in overburden.
12. AuEq g/t (gold equivalent in grams per tonne) = Au g/t + (Ag g/t/77.9).
13. Tonnage is in 000’s tonnes (k); Contained Au and Ag in 000’s troy ounces (koz).
14. Numbers may not add due to rounding.
15. The Effective Date for the MRE is January 01, 2022.
Table 2
Sensitivities of South Zone Pit Constrained Mineral Resource Estimate
Classification
Cut-Off Tonnes Au Au Ag Ag AuEq AuEq
AuEq g/t k g/t koz g/t koz g/t koz
Indicated
1.0 5,430 3.99 697 19.43 3,392 4.24 740
0.9 5,821 3.78 708 18.44 3,450 4.02 752
0.8 6,363 3.53 722 17.23 3,524 3.75 767
0.7 6,933 3.30 734 16.14 3,597 3.50 781
0.6 7,777 3.00 751 14.73 3,684 3.19 798
0.5 8,773 2.72 768 13.36 3,768 2.89 815
0.4 10,015 2.44 784 11.98 3,856 2.59 833
0.35 10,592 2.32 791 11.43 3,894 2.47 841
0.3 11,473 2.17 799 10.70 3,946 2.30 849
0.2 12,945 1.95 810 9.66 4,020 2.07 861
Inferred
1.0 2,137 2.05 141 7.07 485 2.14 147
0.9 2,446 1.91 150 6.61 519 1.99 156
0.8 2,964 1.72 164 6.00 571 1.79 170
0.7 3,731 1.51 181 5.29 634 1.58 189
0.6 4,810 1.31 203 4.69 725 1.37 211
0.5 6,178 1.13 225 4.19 831 1.19 235
0.4 8,239 0.95 253 3.66 968 1.00 265
0.35 9,177 0.89 263 3.47 1,023 0.94 277
0.3 11,207 0.79 283 3.13 1,126 0.83 297
0.2 17,108 0.59 325 2.50 1,377 0.62 343
A total of thirteen mineralization veins and an encompassing low-grade halo (‘Veinlet Domain’) were interpreted and constructed, as shown in both plan view (Figure 1) and as a representative cross section (Figure 2) below. Models were developed for each vein using the drill core field logs and assays, and represent continuous gold and silver mineralization constrained with a cut-off value of 0.35 g/t AuEq (gold equivalent = Au g/t + Ag g/t/77.9) to a minimum thickness of 2 m drill core length. The 3-D constraining domain wireframes were treated separately for the purposes of rock coding, statistical analysis, compositing limits, and definition of the extent of potentially economic mineralization. All mineralization veins were clipped by the overburden surface.
The Mineral Resource was classified as either Indicated or Inferred based on the geological interpretation, variogram performance and drill hole spacing. Indicated Mineral Resources were classified within the veins using at least two holes within a spacing of 45 m or less. Inferred Mineral Resources were classified for vein blocks at a lower density of drilling, and for the entire Veinlet Domain. Mineralization of the South Zone is considered to be potentially amenable to open pit mining methods, and the Mineral Resource Estimate reported herein is constrained within a pit shell based on a gold equivalent cut-off of 0.35 g/t. Additional mineralization exists outside of that pit shell. Mineralization at the South Zone may also be potentially economic for underground mining, however, that work has not yet been undertaken. The reader is cautioned that Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Drilling, assaying and exploration work on the South Zone demonstrate spatial continuity of the mineralization within potentially mineable shapes, and are sufficient to indicate a reasonable potential for economic extraction, thus qualifying it as a Mineral Resource in accordance with the Canadian Securities Administrators’ National Instrument 43-101 and was estimated in conformity with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) “Estimation of Mineral Resource and Mineral Reserves Best Practice Guidelines” (November 2019) and the definitions set out in the 2014 CIM Definition Standards.
A Technical Report to support the initial Mineral Resource Estimate for the Shovelnose Gold Property – South Zone, prepared in accordance with National Instrument 43-101, will be filed on SEDAR (www.sedar.com) within 45 days of this news release.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas
Gareth Thomas, President, CEO & Director
Qualified Person Statement
The Mineral Resource Estimate for the Shovelnose Gold Property – South Zone was prepared by Yungang Wu, P.Geo., Antoine Yassa, P.Geo. and Eugene Puritch, P.Eng., FEC, CET of P&E Mining Consultants Inc., Brampton, Ontario, all Independent Qualified Persons as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Puritch has reviewed and approved the technical contents of this news release.
QA/QC
Drill core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each drill 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. Subsequently 0.75 g 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 (30 g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, whereby select samples are dry screened to 100 microns. A duplicate 50 g 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. Westhaven’s QA/QC program includes the collection and submission of regular field core duplicates (quartered core), as well as laboratory and field certified reference materials 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. Selected drill core pulps and reject material were submitted to a third-party laboratory for check assays.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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 Gold Property is situated off a major highway, near power, rail, large producing mines, and within easy commuting distance from the City of Merritt, which translates into low-cost exploration.
Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/57dfcac5-56d7-490b-9b99-9b685b163d42
https://www.globenewswire.com/NewsRoom/AttachmentNg/982aee21-73e3-4770-abd7-be833826afa6
https://www.globenewswire.com/NewsRoom/AttachmentNg/11a873a1-9fc2-4adc-96bb-96d0b20f257d
https://www.globenewswire.com/NewsRoom/AttachmentNg/83271f72-baf9-44f3-a578-6a8ece64d8ac
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SKYG.v $SRKZF neighbour in Newfoundland finally bringing some new gleaming numbers forth ...
New Found Intercepts 70.65 g/t Au Over 5.25m at Golden Joint Main Vein, Extending Zone to 285m Vertical Depth
by @businesswire on 6 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 three diamond drill holes designed to expand the high-grade gold mineralization at the Golden Joint Zone centered approximately 1km north of the Keats Zone (see Figure 1). 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/20220106005367/en/
Table 1. Highlight results from Golden Joint (Graphic: Business Wire)
Table 1. Highlight results from Golden Joint (Graphic: Business Wire)
Golden Joint 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-21-274
164.65
166.75
2.10
33.10
Golden Joint HW
NFGC-21-386
424.75
429.10
5.25
70.65
Golden Joint
Table 1: Highlight results from Golden Joint
At the Golden Joint Main Vein, the interval of 70.65 g/t Au over 5.25m in hole NFGC-21-386 extends the drill-defined depth of high-grade gold by approximately 50m vertically from 235m to 285m deep. This vein is developed in the hanging wall to the Appleton Fault Zone and has been drill-defined over a strike length of approximately 250m that remains open in all directions (see Figure 2).
At the Golden Joint Hanging Wall (‘HW’) Zone, the interval of 33.10 g/t Au over 2.10 m in NFGC-21-274 is the deepest reported intercept to date and extends the zone to a vertical depth of 112m. The Golden Joint HW Zone consists of a network of high-grade gold veins located east of the Golden Joint Main Vein that are now drill-tested over a strike length of approximately 210m and remain open in all directions (Figure 3).
Greg Matheson, COO of New Found, stated: “Today’s announcement continues to demonstrate the high-grade nature of both the Golden Joint Main Vein and the Golden Joint HW, discovered by New Found in 2021. Centrally located between the Company’s Keats and Lotto zones, the Golden Joint veins continue to expand as we step out along strike and to depth and they remain wide open in all directions. Similar to the new footwall discovery of 88.5 g/t Au over 3.35m in Hole NFGC-21-238 at Keats (see October 13, 2021, news release), we are very encouraged to be encountering high-grade gold in multiple veins with differing orientations in the Golden Joint – Lotto corridor and believe these results speak to the strength and extent of the gold mineralizing system along the Appleton Fault Zone. Good continuity is developing on these targets and our geological modelling is allowing us to accurately predict the location of these high-grade veins and to extend them.”
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)*
Au (g/t)****
Zone
NFGC-21-244
245.30
247.30
2.00
1.21
Golden Joint
And
250.60
253.30
2.70
2.03
Golden Joint
And
264.00
266.15
2.15
1.60
Golden Joint
NFGC-21-274
164.65
166.75
2.10
33.10
Golden Joint HW
NFGC-21-386
424.75
430.00
5.25
70.65
Golden Joint
Table 2: Summary of results reported in this release for Golden Joint
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-244
299
-45.5
333
658572
5428399
NFGC-21-274
294
-49
552
658616
5428373
NFGC-21-386
298.5
-46.5
582
658634
5428306
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 three drillholes reported in tables 1, 2 and 4, eleven 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 the first half of the core were submitted to EA for screen fire assay. Following the QC disclosure on November 4, 2021, the Company submitted the second half of the core 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 second half of the core.
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.
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-21-244
245.30
247.30
2.00
1.48
0.92
1.21
And
250.60
253.30
2.70
2.02
2.04
2.03
And
264.00
266.15
2.15
1.30
1.88
1.60
NFGC-21-274
164.65
166.75
2.10
26.62
39.98
33.10
NFGC-21-386
424.75
430.00
5.25
56.73
83.16
70.65
Table 4: Half-Core Composite Comparison
Queensway 400,000m Drill Program Update
Approximately 32% of the planned 400,000m program at Queensway has been drilled to date with approximately 29,500m 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.
Notes
*Note 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.
** Gold values reported are from the first sampled half of the core and was assayed at EA.
***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-21-386.
Sampling, Sub-sampling and Laboratory
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 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. 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 6, 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 32% 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.
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/20220106005367/en/
ILI.v $ARXRF Georgia Lakes fellow explorer out with a nice healthy raise ...RCK has ties to Peter Thiel as an investor for those who may not be aware...Rock Tech Lithium Increases Financing To US$41.0 Million https://thedeepdive.ca/rock-tech-lithium-increases-financing-to-us41-0-million/
BARU.v $BARUF Baru Gold Commences Drilling at Sangihe while Construction Activities Continue
by @thenewswire on 21 Dec 2021, 12:00
(TheNewswire)
Baru Gold Corp.
Vancouver, BC - TheNewswire - December 21, 2021 - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) (OTC:BARUF) is pleased to announce the arrival of the drill rig on Sangihe Island yesterday. The 25,000-metre drilling program announced in a news release dated September 14, 2021 will commence immediately.
The initial area targeted for this drilling program is covered in the Sangihe 2010 NI 43-101 report which identified 835,000 ounces of gold as an inferred resource between Binebase and Bawone villages over approximately 1.2 kilometres of strike length. An infill drilling program will be conducted in this area to upgrade some of the inferred resources into indicated and measured resource status. Over the past few months, the Company has prepared 27 drill pad sites which will be the focus of activity over the next two months.
Thereafter, exploration drilling will continue over an additional 1.45 kilometres from Bawone to South of Salurang village following the continuation of the known geochemical anomaly and with guidance from the ongoing structural study. Once that program has been completed, the identified resources will then be infill drilled to bring some of these resources into indicated and measured status. The rig will then be further deployed for regional target work.
Construction Activities
Construction is currently in progress. Preparation of the laydown area is now 90% complete and widening of the access bridge to the laydown has been completed. All mobilization requirements for construction are in place, including security, labour clearing crew, heavy equipment, fuel, electrical team, and facilities. Catering facilities at camp are operational and on-site laundry facilities will be running next week.
Land acquisition is on-going with minimal effect on construction. The heavy equipment on site will be utilized efficiently and concurrently as required between the drilling and construction activities. The Company currently employs 79 people on this project and 66 are locals from Sangihe Island.
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 production in early 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) 2021 TheNewswire - All rights reserved.
GMG.v $GMGMF Graphene Aluminium-Ion Battery Prototypes Sent to Customers for Testing and Evaluation
by @newsfile on 22 Dec 2021, 01:00
Brisbane, Queensland--(Newsfile Corp. - December 22, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to announce that its graphene aluminium-ion batteries ("G+AI Battery") 2032 type coin cell prototypes (see Figure 1) have been sent to a number of prospective customers around the world.
Coin cell testing to date has demonstrated that the GMG 2032 type G+AI Battery coin cell prototypes are fully rechargeable in several seconds, retain capacity for several thousand charge and discharge cycles, are non-flammable, and are relatively non-toxic and almost fully recyclable. These characteristics compare favourably against typical rechargeable Lithium-Ion 2032 type coin cells which take 3-6 hours to recharge, are toxic and can be quite harmful if ingested, are difficult to recycle, are flammable under certain conditions, and degrade more rapidly in performance.
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Figure 1: GMG 2032 1.7V Prototype
To view an enhanced version of Figure 1, please visit:
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GMG is pleased to report that further battery development, in collaboration with the University of Queensland, has increased the capacity of the G+AI Battery coin cells, when compared to earlier proof of concept prototypes. The Company is also currently in the process of developing the technology required to increase the voltage of the coin cell from approximately 1.7 Volts to 3.4 Volts - making the G+AI Battery better suited for interchangeable use in existing everyday personal devices. In addition to graphene manufactured by GMG, the Company also continues to test different grades of graphene from various sources for use in G+AI Batteries. GMG considers the performance characteristics of these prototypes clear enough to engage potential customers and industry partners for feedback on their commercial potential following subsequent further development.
GMG's CEO and Managing Director, Craig Nicol, said, "We are very pleased with the technical and commercial progress we have made to date on our G+AI Batteries, and with the level of interest received from potential customers. We look forward to customer feedback on these prototypes, and to progressing towards the commercialisation of this impressive battery technology. In parallel we will continue to optimise and improve performance in our newly commissioned pilot plant and start to develop pouch pack formats during 2022 in addition to the coin cell."
About GMG
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the continued optimisation of the G+AI Battery, the potential toxicity and recyclability of the 2032 type G+AI Battery coin cell prototypes, the technological development and optimisation of the G+AI Battery coin cells, the potential commercialization of the 2032 type G+AI Battery coin cell technology, the optimisation and improved performance of the Company's pilot plant, and the development of the 2032 type G+AI Battery coin cell prototype in a pouch pack format.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel, and the intention of the Company to research, develop and produce certain products and technologies, the ability of the Company to optimise certain products and facilities, and the commercial progress and technical characteristics of certain products.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines, and market demand for the Company's products.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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GMG.v $GMGMF Graphene Aluminium-Ion Battery Prototypes Sent to Customers for Testing and Evaluation
by @newsfile on 22 Dec 2021, 01:00
Brisbane, Queensland--(Newsfile Corp. - December 22, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to announce that its graphene aluminium-ion batteries ("G+AI Battery") 2032 type coin cell prototypes (see Figure 1) have been sent to a number of prospective customers around the world.
Coin cell testing to date has demonstrated that the GMG 2032 type G+AI Battery coin cell prototypes are fully rechargeable in several seconds, retain capacity for several thousand charge and discharge cycles, are non-flammable, and are relatively non-toxic and almost fully recyclable. These characteristics compare favourably against typical rechargeable Lithium-Ion 2032 type coin cells which take 3-6 hours to recharge, are toxic and can be quite harmful if ingested, are difficult to recycle, are flammable under certain conditions, and degrade more rapidly in performance.
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Figure 1: GMG 2032 1.7V Prototype
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/8082/108294_b94e44dee499abaf_001full.jpg
GMG is pleased to report that further battery development, in collaboration with the University of Queensland, has increased the capacity of the G+AI Battery coin cells, when compared to earlier proof of concept prototypes. The Company is also currently in the process of developing the technology required to increase the voltage of the coin cell from approximately 1.7 Volts to 3.4 Volts - making the G+AI Battery better suited for interchangeable use in existing everyday personal devices. In addition to graphene manufactured by GMG, the Company also continues to test different grades of graphene from various sources for use in G+AI Batteries. GMG considers the performance characteristics of these prototypes clear enough to engage potential customers and industry partners for feedback on their commercial potential following subsequent further development.
GMG's CEO and Managing Director, Craig Nicol, said, "We are very pleased with the technical and commercial progress we have made to date on our G+AI Batteries, and with the level of interest received from potential customers. We look forward to customer feedback on these prototypes, and to progressing towards the commercialisation of this impressive battery technology. In parallel we will continue to optimise and improve performance in our newly commissioned pilot plant and start to develop pouch pack formats during 2022 in addition to the coin cell."
About GMG
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the continued optimisation of the G+AI Battery, the potential toxicity and recyclability of the 2032 type G+AI Battery coin cell prototypes, the technological development and optimisation of the G+AI Battery coin cells, the potential commercialization of the 2032 type G+AI Battery coin cell technology, the optimisation and improved performance of the Company's pilot plant, and the development of the 2032 type G+AI Battery coin cell prototype in a pouch pack format.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel, and the intention of the Company to research, develop and produce certain products and technologies, the ability of the Company to optimise certain products and facilities, and the commercial progress and technical characteristics of certain products.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines, and market demand for the Company's products.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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BARU.v $BARUF Baru Gold Commences Drilling at Sangihe while Construction Activities Continue
by @thenewswire on 21 Dec 2021, 12:00
(TheNewswire)
Baru Gold Corp.
Vancouver, BC - TheNewswire - December 21, 2021 - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) (OTC:BARUF) is pleased to announce the arrival of the drill rig on Sangihe Island yesterday. The 25,000-metre drilling program announced in a news release dated September 14, 2021 will commence immediately.
The initial area targeted for this drilling program is covered in the Sangihe 2010 NI 43-101 report which identified 835,000 ounces of gold as an inferred resource between Binebase and Bawone villages over approximately 1.2 kilometres of strike length. An infill drilling program will be conducted in this area to upgrade some of the inferred resources into indicated and measured resource status. Over the past few months, the Company has prepared 27 drill pad sites which will be the focus of activity over the next two months.
Thereafter, exploration drilling will continue over an additional 1.45 kilometres from Bawone to South of Salurang village following the continuation of the known geochemical anomaly and with guidance from the ongoing structural study. Once that program has been completed, the identified resources will then be infill drilled to bring some of these resources into indicated and measured status. The rig will then be further deployed for regional target work.
Construction Activities
Construction is currently in progress. Preparation of the laydown area is now 90% complete and widening of the access bridge to the laydown has been completed. All mobilization requirements for construction are in place, including security, labour clearing crew, heavy equipment, fuel, electrical team, and facilities. Catering facilities at camp are operational and on-site laundry facilities will be running next week.
Land acquisition is on-going with minimal effect on construction. The heavy equipment on site will be utilized efficiently and concurrently as required between the drilling and construction activities. The Company currently employs 79 people on this project and 66 are locals from Sangihe Island.
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 production in early 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) 2021 TheNewswire - All rights reserved.
WHN.v $WTHVF Red Cloud buy rating (Trading at .45 at the time of rating)
Valuation:
We maintain a BUY rating and target price of C$1.15 target. Our target
price is based on 0.8x our sum-of-parts derived NAVPS estimate of C$1.40
(unchanged). We note that the company currently trades at a discount
to peers on an EV basis at $46M (peers at $297M). It also trades at 0.30x
NAV versus peers at 0.45x. We believe there is significant potential for the
stock to re-rate with ongoing positive drill results and a maiden resource.
Upcoming Catalysts: 1) Shovelnose drill results (ongoing), 2) South Zone
maiden resource (Q4/21-early 2022), and 3) Metallurgical work (Q4/21).
WHN.v $WTHVF Red Cloud buy rating (Trading at .45 at the time of rating)
Valuation:
We maintain a BUY rating and target price of C$1.15 target. Our target
price is based on 0.8x our sum-of-parts derived NAVPS estimate of C$1.40
(unchanged). We note that the company currently trades at a discount
to peers on an EV basis at $46M (peers at $297M). It also trades at 0.30x
NAV versus peers at 0.45x. We believe there is significant potential for the
stock to re-rate with ongoing positive drill results and a maiden resource.
Upcoming Catalysts: 1) Shovelnose drill results (ongoing), 2) South Zone
maiden resource (Q4/21-early 2022), and 3) Metallurgical work (Q4/21).
ILI.v $ARXRF Stockwatch Diamond & Specialty Minerals Summary for Dec. 17, 2021
2021-12-17 18:38 ET - Market Summary
by Will Purcell
J.C. St-Amour's Infinite Ore Corp. (ILI) fell 1.5 cents to 13.5 cents on 5.1 million shares on word that it has a finite number -- three -- of targets identified as "zones of interest" on its Jackpot lithium project, near Nipigon in Northwestern Ontario. These features, enthuses Mr. St-Amour, president, "demonstrate the expansion potential" of the project. "We are convinced that [the] pegmatites have the same source, increasing the potential for resource expansion," he cheers, adding that the company is looking forward to drilling as early as possible next year.
This new drilling would follow 15 holes completed in 2018, tests that yielded assays as high as 2.47 per cent lithium oxide over 7.23 metres and 3.02 per cent over five metres. The tests averaged 1.28 per cent lithium oxide over intervals that varied from one to 10.65 metres. Those numbers were encouraging, as a historical resource on the property, prepared in the mid-1950s, listed a far-from-infinite two million tonnes at an average of 1.09 per cent lithium oxide. The new drilling is being designed to expand that resource -- and presumably make it compliant. As well, Mr. St-Amour will be chasing newly discovered areas with his drills.
ILI.v $ARXRF Stockwatch Diamond & Specialty Minerals Summary for Dec. 17, 2021
2021-12-17 18:38 ET - Market Summary
by Will Purcell
J.C. St-Amour's Infinite Ore Corp. (ILI) fell 1.5 cents to 13.5 cents on 5.1 million shares on word that it has a finite number -- three -- of targets identified as "zones of interest" on its Jackpot lithium project, near Nipigon in Northwestern Ontario. These features, enthuses Mr. St-Amour, president, "demonstrate the expansion potential" of the project. "We are convinced that [the] pegmatites have the same source, increasing the potential for resource expansion," he cheers, adding that the company is looking forward to drilling as early as possible next year.
This new drilling would follow 15 holes completed in 2018, tests that yielded assays as high as 2.47 per cent lithium oxide over 7.23 metres and 3.02 per cent over five metres. The tests averaged 1.28 per cent lithium oxide over intervals that varied from one to 10.65 metres. Those numbers were encouraging, as a historical resource on the property, prepared in the mid-1950s, listed a far-from-infinite two million tonnes at an average of 1.09 per cent lithium oxide. The new drilling is being designed to expand that resource -- and presumably make it compliant. As well, Mr. St-Amour will be chasing newly discovered areas with his drills.
ILI.v $ARXRF Infinite Ore Finds Additional Lithium Targets on Jackpot Project
by @newsfile on 16 Dec 2021, 04:30
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2021) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Infinite") is pleased to announce that recent channel sampling has identified at least three zones of interest containing spodumene-bearing granitic pegmatites with lithium values matching those of the historical resource area and that demonstrate the expansion potential of the Jackpot lithium project.
Zone 1 is an extension of a previously drilled outcrop and returned channel results of 1.27% Li2O over 4.5 m, 1.32 over 4.0 m, 1.69 Li2O over 6.5 m, respectively.
Zone 2 is approximately 200 m ENE along strike of the pegmatite dykes drilled in 2018 and yield concentrations 1.37 Li2O % over 3.0 m and 0.76 % Li2O over 8.5 m. This zone indicates the potential for the Jackpot dykes to extend to a length of at least 900 m.
Zone 3, approximately 280 m to the north of the previous zone, returned 1.3 % Li2O over 12 m. Infinite is planning an extensive drill program for 2022 expecting to begin this winter. The main objective is to expand the historical resources by drilling beyond the 2018 drill campaign area as well as test the new zones.
In 2022, the Company will also test the zones of interest located on the newly acquired claims approximately 1.1-1.3 km to the WSW of the known Jackpot dykes with a goal of potentially linking these to the resource area. The newly acquired claims expose several outcrops of spodumene-bearing granitic pegmatite dykes that produced Li2O values ranging from 2.29 to 7.08 % (see the company's December 13th, 2021 press release).
Table 1: Selected Channel Sample Assay Results, Jackpot property
Channel no. No. of Samples Li2O (wt. %) Length (m) Comment
002 5 1.27 4.50 Zone 1
004 4 1.32 4.00 Zone 1
005 7 1.69 6.50 Zone 1
022 3 1.27 2.50 Zone 1
023 9 0.76 8.50 Zone 2
024 3 1.37 3.00 Zone 2
029 12 1.30 12.00 Zone 3
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Figure 1 Location of the Jackpot Dykes and Zones of Interest
To view an enhanced version of Figure 1, please visit:
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J.C. St-Amour, President of Infinite Ore commented, "Based on field observations during the 2021 field program and the recent assay results, we are convinced that pegmatites have the same source, increasing the potential for resource expansion. We look forward to drilling the project as early in 2022 as possible to expand on the 2018 drill program and to test newly discovered areas."
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dykes, two of which 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 with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. 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).
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ILI.v $ARXRF Infinite Ore Finds Additional Lithium Targets on Jackpot Project
by @newsfile on 16 Dec 2021, 04:30
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2021) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Infinite") is pleased to announce that recent channel sampling has identified at least three zones of interest containing spodumene-bearing granitic pegmatites with lithium values matching those of the historical resource area and that demonstrate the expansion potential of the Jackpot lithium project.
Zone 1 is an extension of a previously drilled outcrop and returned channel results of 1.27% Li2O over 4.5 m, 1.32 over 4.0 m, 1.69 Li2O over 6.5 m, respectively.
Zone 2 is approximately 200 m ENE along strike of the pegmatite dykes drilled in 2018 and yield concentrations 1.37 Li2O % over 3.0 m and 0.76 % Li2O over 8.5 m. This zone indicates the potential for the Jackpot dykes to extend to a length of at least 900 m.
Zone 3, approximately 280 m to the north of the previous zone, returned 1.3 % Li2O over 12 m. Infinite is planning an extensive drill program for 2022 expecting to begin this winter. The main objective is to expand the historical resources by drilling beyond the 2018 drill campaign area as well as test the new zones.
In 2022, the Company will also test the zones of interest located on the newly acquired claims approximately 1.1-1.3 km to the WSW of the known Jackpot dykes with a goal of potentially linking these to the resource area. The newly acquired claims expose several outcrops of spodumene-bearing granitic pegmatite dykes that produced Li2O values ranging from 2.29 to 7.08 % (see the company's December 13th, 2021 press release).
Table 1: Selected Channel Sample Assay Results, Jackpot property
Channel no. No. of Samples Li2O (wt. %) Length (m) Comment
002 5 1.27 4.50 Zone 1
004 4 1.32 4.00 Zone 1
005 7 1.69 6.50 Zone 1
022 3 1.27 2.50 Zone 1
023 9 0.76 8.50 Zone 2
024 3 1.37 3.00 Zone 2
029 12 1.30 12.00 Zone 3
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Figure 1 Location of the Jackpot Dykes and Zones of Interest
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J.C. St-Amour, President of Infinite Ore commented, "Based on field observations during the 2021 field program and the recent assay results, we are convinced that pegmatites have the same source, increasing the potential for resource expansion. We look forward to drilling the project as early in 2022 as possible to expand on the 2018 drill program and to test newly discovered areas."
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dykes, two of which 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 with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. 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).
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107823
ILI.v $ARXRF Infinite Ore Signs Definitive Agreement to sell Interest in Eastern Vision Project in Red Lake
by @newsfile on 15 Dec 2021, 04:00
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2021) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Infinite") announced today that, further to its news release dated July 19, 2021, it has signed a definitive agreement (the "Definitive Agreement") with Trillium Gold Mines Inc. (TSXV: TGM) ("Trillium") whereby Trillium will acquire all of Infinite's property holdings known as the Eastern Vision Project located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt in the Red Lake District, Ontario (the "Transaction").
The Definitive Agreement provides that Trillium would issue 4,000,000 common shares of Trillium and pay $175,000 in cash to Infinite. In addition, Trillium would assume all of Infinite's cash payment commitments under its existing option agreements. Infinite would retain its share issuance obligations. The Eastern Vision project includes the Fredart, Garnet Lake, Confederation North, and Confederation South properties; Trillium would hold greater than 100 km of favourable structure on trend with Great Bear Resources' Dixie Deposit.
Figure 1 Trillum Gold's Property Holdings
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J.C. St-Amour, President of Infinite Ore commented, "The Transaction gives Infinite, through its share ownership in Trillium, exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area. This also allows us to focus our exploration efforts on our 100% owned Jackpot Lithium project, located near Thunder Bay, Ontario. Infinite is preparing a winter drilling program that would focus on resource expansion."
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dykes, two of which 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 with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest 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).
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107683
ILI.v $ARXRF Infinite Ore Signs Definitive Agreement to sell Interest in Eastern Vision Project in Red Lake
by @newsfile on 15 Dec 2021, 04:00
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2021) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Infinite") announced today that, further to its news release dated July 19, 2021, it has signed a definitive agreement (the "Definitive Agreement") with Trillium Gold Mines Inc. (TSXV: TGM) ("Trillium") whereby Trillium will acquire all of Infinite's property holdings known as the Eastern Vision Project located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt in the Red Lake District, Ontario (the "Transaction").
The Definitive Agreement provides that Trillium would issue 4,000,000 common shares of Trillium and pay $175,000 in cash to Infinite. In addition, Trillium would assume all of Infinite's cash payment commitments under its existing option agreements. Infinite would retain its share issuance obligations. The Eastern Vision project includes the Fredart, Garnet Lake, Confederation North, and Confederation South properties; Trillium would hold greater than 100 km of favourable structure on trend with Great Bear Resources' Dixie Deposit.
Figure 1 Trillum Gold's Property Holdings
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To view an enhanced version of Figure 1, please visit:
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J.C. St-Amour, President of Infinite Ore commented, "The Transaction gives Infinite, through its share ownership in Trillium, exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area. This also allows us to focus our exploration efforts on our 100% owned Jackpot Lithium project, located near Thunder Bay, Ontario. Infinite is preparing a winter drilling program that would focus on resource expansion."
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dykes, two of which 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 with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest 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).
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ILI.v $ARXRF Infinite Ore Expands Jackpot Lithium Project
by @newsfile on 13 Dec 2021, 04:00
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2021) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) (the "Company") is pleased to announce that it has entered into an agreement (the "Purchase Agreement") with an arms length party increasing the Jackpot lithium project by acquiring a 100% interest in claims adjacent to those holding the historical resource of 2 million tons grading 1.09% Li2O. The newly acquired claims may hold the western extension of the pegmatite dykes that contain the historical resources.
A sampling program completed in 2016 identified pegmatite showings on trend with the Jackpot pegmatite dykes that contain the historical resource. The showings are approximately 1.1 - 1.3 km to the WSW of the main Jackpot dykes. Grab samples results returned values as outlined in the following table:
Assay Result Distribution
Number of Samples Li2O (%)
1 7.0 - 8.0
3 6.0 - 7.0
3 5.0 - 6.0
6 4.0 - 5.0
6 3.0 - 4.0
8 2.0 - 3.0
1 1.0 - 2.0
1 0.5 - 1.0
9 <0.5
38 samples assayed
(Source: Everton Resources Inc. news release, August 23, 2016)
Figure 1: Map of Jackpot Property
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Under the terms of the Purchase Agreement, the Company will acquire a 100% interest in 87 claims for a consideration of C$225,000 in cash and 5,000,000 common shares in the capital of the company. In the event that the claims are demonstrated to contain a NI 43-101 compliant inferred resource in excess of 5,000,000 tons of Li2O, the Company shall make a bonus payment of 5,000,000 common shares. The vendor will retain a royalty consisting of a 2.5% Net Smelter Return. The Company, at its discretion, can purchase 1% of the royalty for cancellation for a purchase price of $1,000,000.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company as 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 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).
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GMG.v $GMGMF Graphene Manufacturing Group Commences Graphene Aluminium-Ion Battery Pilot Plant Operations
by @newsfile on 9 Dec 2021, 03:49
Brisbane, Queensland, Australia--(Newsfile Corp. - December 9, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG " or the "Company") is pleased to advise that the pilot production and testing plant ("Battery Pilot Plant") for its graphene aluminium-ion batteries ("G+AI Batteries") is operational and that the first G+AI Batteries in coin cell format have been manufactured. Additional equipment to enable the manufacture G+AI Batteries in pouch pack cell format is expected to arrive in early 2022.
GMG's Managing Director and CEO, Craig Nicol, commented: "The commissioning of our Battery Pilot Plant is an important milestone for GMG. Not only will it allow us to develop, manufacture and test our own G+AI Battery coin cell and subsequently pouch packs in-house, it will also enable the Company to accelerate the commercial development of our G+AI Batteries, work with future customers and further build on our internal expertise. We also expect the Battery Pilot Plant to accelerate optimisation of our G+AI Battery prototypes, building on the encouraging results we have already achieved which are generating so much interest from prospective customers."
"Having our own manufacturing and testing capability also supports collaboration efforts with industry partners that continue to express strong interest in the initial performance results and future potential of G+AI Batteries. The lessons we learn from this process will be highly valuable as we work towards commercialisation of this technology," Nicol said.
As previously announced, subject to successful commercial prototypes and a final investment decision, GMG aims to construct an initial commercial coin cell G+AI Battery manufacturing facility, followed by first production and sales of G+AI Batteries. The location of this manufacturing facility is not yet decided but will likely be in Australia where GMG's headquarters and existing operations are located. As previously announced on the 25th October 2021, GMG and Robert Bosch Australia Pty Ltd ("BOSCH") have signed a non-binding Letter of Intent, with the aim to agree on the terms of binding agreements for BOSCH to design and deliver this manufacturing facility.
GMG's current cash balance is approximately A$15.6m, leaving the Company well-funded for the next stage of its growth plans.
About GMG
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the expectation that the Pilot Battery Plant will allow the Company to develop, manufacture and test its own G+AI Battery coin cell and pouch packs in-house and that such capability may accelerate the development of the Company's G+AI Batteries; the expectation that additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format will arrive in January 2022; GMG's expectations relating to construction of an initial commercial coin cell G+AI Battery manufacturing facility, production and sales of G+AI Batteries and the anticipated timing of such events; the proposed location of the anticipated manufacturing facility; and the potential full commercialization of the Company's technology.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel; the intention of the Company to research, develop and produce certain products; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format and the timeline for such acquisition; the ability of the Company to complete construction of an initial commercial coin cell G+AI Battery manufacturing facility, including obtaining necessary permits; timing of anticipated construction; and fluctuations in the market for graphene.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format in a timely manner; the costs associated with construction of an initial commercial coin cell G+AI Battery manufacturing facility; the ability of the Company to obtain necessary production permits; the continued demand for graphene; sufficient demand for the Company's products; and that in-house production of G+AI Batteries by the Company will be cost-effective.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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GMG.v $GMGMF Graphene Manufacturing Group Commences Graphene Aluminium-Ion Battery Pilot Plant Operations
by @newsfile on 9 Dec 2021, 03:49
Brisbane, Queensland, Australia--(Newsfile Corp. - December 9, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG " or the "Company") is pleased to advise that the pilot production and testing plant ("Battery Pilot Plant") for its graphene aluminium-ion batteries ("G+AI Batteries") is operational and that the first G+AI Batteries in coin cell format have been manufactured. Additional equipment to enable the manufacture G+AI Batteries in pouch pack cell format is expected to arrive in early 2022.
GMG's Managing Director and CEO, Craig Nicol, commented: "The commissioning of our Battery Pilot Plant is an important milestone for GMG. Not only will it allow us to develop, manufacture and test our own G+AI Battery coin cell and subsequently pouch packs in-house, it will also enable the Company to accelerate the commercial development of our G+AI Batteries, work with future customers and further build on our internal expertise. We also expect the Battery Pilot Plant to accelerate optimisation of our G+AI Battery prototypes, building on the encouraging results we have already achieved which are generating so much interest from prospective customers."
"Having our own manufacturing and testing capability also supports collaboration efforts with industry partners that continue to express strong interest in the initial performance results and future potential of G+AI Batteries. The lessons we learn from this process will be highly valuable as we work towards commercialisation of this technology," Nicol said.
As previously announced, subject to successful commercial prototypes and a final investment decision, GMG aims to construct an initial commercial coin cell G+AI Battery manufacturing facility, followed by first production and sales of G+AI Batteries. The location of this manufacturing facility is not yet decided but will likely be in Australia where GMG's headquarters and existing operations are located. As previously announced on the 25th October 2021, GMG and Robert Bosch Australia Pty Ltd ("BOSCH") have signed a non-binding Letter of Intent, with the aim to agree on the terms of binding agreements for BOSCH to design and deliver this manufacturing facility.
GMG's current cash balance is approximately A$15.6m, leaving the Company well-funded for the next stage of its growth plans.
About GMG
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the expectation that the Pilot Battery Plant will allow the Company to develop, manufacture and test its own G+AI Battery coin cell and pouch packs in-house and that such capability may accelerate the development of the Company's G+AI Batteries; the expectation that additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format will arrive in January 2022; GMG's expectations relating to construction of an initial commercial coin cell G+AI Battery manufacturing facility, production and sales of G+AI Batteries and the anticipated timing of such events; the proposed location of the anticipated manufacturing facility; and the potential full commercialization of the Company's technology.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel; the intention of the Company to research, develop and produce certain products; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format and the timeline for such acquisition; the ability of the Company to complete construction of an initial commercial coin cell G+AI Battery manufacturing facility, including obtaining necessary permits; timing of anticipated construction; and fluctuations in the market for graphene.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format in a timely manner; the costs associated with construction of an initial commercial coin cell G+AI Battery manufacturing facility; the ability of the Company to obtain necessary production permits; the continued demand for graphene; sufficient demand for the Company's products; and that in-house production of G+AI Batteries by the Company will be cost-effective.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107197
ILI.v $ARXRF Infinite Ore closes over $3-million in financings
2021-12-08 16:52 ET - News Release
Mr. J.C. St-Amour reports
INFINITE ORE CLOSES FINANCING
Further to its news releases of Nov. 9 and 10, 2021, Infinite Ore Corp. has closed non-flow through and flow-through private placements. The company issued 49,287,200 non-flow-through (NFT) units at a price of six cents per NFT unit for aggregate gross proceeds of $2,957,232 and 6,712,800 flow-through (FT) units at a price of 8.5 cents per FT unit for aggregate gross proceeds of $570,588.
Each NFT unit comprises one common share and one transferable share purchase warrant of the company. Each warrant will entitle the holder to purchase one share at a price of 10 cents per warrant share for a 24 month period after the closing date.
Each FT unit comprises one flow-through common share and one transferable non-flow-through share purchase warrant of the company. Each warrant will entitle the holder to purchase one share at a price of 11 cents per warrant share for a 24-month period after the closing date.
Finders' fees of $47,874.80 were paid to arm's-length parties.
Proceeds raised from the offering will be used toward exploration activities on the company's Jackpot lithium project, and for general working capital and unallocated funds as per Tier 2 status requirements.
All securities issued under the offering are subject to a statutory hold period expiring on April 9, 2022.
The financings, although conditionally approved by the TSX Venture Exchange, are subject to final approval.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is earning into a large land package with the potential for volcanogenic massive sulphide and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.
BARU.v $BARUF Baru Gold Increases Private Placement and Closes Final Tranche
by @thenewswire on 1 Dec 2021, 06:30
(TheNewswire)
Baru Gold Corp.
December 1, 2021 – TheNewswire - Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce that due to investor demand the Company has increased the size of the non-brokered private placement (the “Private Placement”) announced in its news releases dated October 18 and November 4, 2021 and closed the final tranche to raise an additional $674,000.00 from the issuance of 6,740,000 units (the “Units”) priced at $0.10 per Unit, bringing the total raised in two tranches to $1,676,000.00. Each Unit consists of one common share in the capital of the Company (a "Share") and one-half common share purchase warrant (a "Warrant"). Each full Warrant shall be exercisable into one Share at an exercise price of $0.17 for two years from the date such Warrant is issued.
In this final tranche, finder’s fees of $19,600.00 are payable in cash on a portion of the private placement to parties at arm’s length to the Company. In addition, 196,000 non-transferable finder’s warrants to purchase up to 196,000 Shares are being issued (the “Finder’s Warrants”), the Finder’s Warrants having the same terms as the Warrants.
All securities issued in the final tranche of the Private Placement will be subject to a four-month hold period expiring April 1, 2022.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.
The proceeds raised from the Private Placement will be used to further the exploration program and to provide support for the start-up of production at the Sangihe Gold project, and for general working capital.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in late 2021/early 2022.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Increases Private Placement and Closes Final Tranche
by @thenewswire on 1 Dec 2021, 06:30
(TheNewswire)
Baru Gold Corp.
December 1, 2021 – TheNewswire - Vancouver, BC - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce that due to investor demand the Company has increased the size of the non-brokered private placement (the “Private Placement”) announced in its news releases dated October 18 and November 4, 2021 and closed the final tranche to raise an additional $674,000.00 from the issuance of 6,740,000 units (the “Units”) priced at $0.10 per Unit, bringing the total raised in two tranches to $1,676,000.00. Each Unit consists of one common share in the capital of the Company (a "Share") and one-half common share purchase warrant (a "Warrant"). Each full Warrant shall be exercisable into one Share at an exercise price of $0.17 for two years from the date such Warrant is issued.
In this final tranche, finder’s fees of $19,600.00 are payable in cash on a portion of the private placement to parties at arm’s length to the Company. In addition, 196,000 non-transferable finder’s warrants to purchase up to 196,000 Shares are being issued (the “Finder’s Warrants”), the Finder’s Warrants having the same terms as the Warrants.
All securities issued in the final tranche of the Private Placement will be subject to a four-month hold period expiring April 1, 2022.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.
The proceeds raised from the Private Placement will be used to further the exploration program and to provide support for the start-up of production at the Sangihe Gold project, and for general working capital.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in late 2021/early 2022.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2021 TheNewswire - All rights reserved.
GMG.v $GMGMF Global Patent Application Filed for Graphene Aluminium-Ion Battery Technology
by @newsfile on 30 Nov 2021, 05:00
Brisbane, Queensland, Australia--(Newsfile Corp. - November 30, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to provide an update regarding the patent status of the associated Graphene Aluminium-Ion Battery ("G+AI Battery") technology.
GMG's partner, UniQuest Pty Limited ("UniQuest"), has filed a global patent application for the G+AI Battery under the Patent Corporation Treaty ("PCT") following an initial filing on November 25, 2020. The patent application is an important step in securing the intellectual property ("IP") and global commercialisation rights for the G+AI Battery technology that GMG has rights to develop and deploy.
As reported on April 22nd 2021, GMG is developing G+AI Battery technology with the University of Queensland (or "UQ") and has entered into a licence agreement dated February 26, 2021 (the "Licence Agreement") with UniQuest Pty Limited ("UniQuest"), an entity which commercialises research work done by the University of Queensland. The Licence Agreement has a term of 20 years or longer, should patents remain in place in certain countries. Under the terms of the Licence Agreement, GMG will pay for certain patent costs as they arise and will pay Uniquest a minimum royalty on sales of G+AI Batteries.
GMG CEO, Craig Nicol, commented: "This PCT application is another important milestone for GMG. Apart from securing the IP and global commercialisation rights, it also further cements our long-term partnership with the University of Queensland and Uniquest to develop the G+AI battery, which continues to progress well."
As disclosed in GMG's prospectus dated March 31, 2021, GMG and the University of Queensland entered into a research agreement dated February 26, 2021 (the "Research Agreement"), pursuant to which both parties are working collaboratively with financial support from the Australian Government to progress research and development, and ultimately the commercialization of G+AI Batteries.
About UniQuest
UniQuest is the commercialisation company of the University of Queensland (UQ). Working at the interface between industry and UQ's researchers, UniQuest commercialises UQ's intellectual property in partnership with UQ researchers to create societal and economic impact. Established in 1984, UniQuest's commercialisation activities have placed UQ at the forefront of academic research translation in Australia.
http://uniquest.com.au/
About GMG
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 payments under the Licence Agreement, discussions of future plans and management's expectations and intentions with respect to the Research Agreement.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel, and the intention of the Company to research, develop and produce certain products, the Company's success in obtaining all necessary approvals with regard to the patent application process, the creation of IP, and the Company's success in collaborating with UQ and UniQuest to develop its products and IP.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines, the Company will be successful in obtaining all necessary approvals under the patent application process, the development and licencing of IP as anticipated, and the Company will be successful in collaborating with UQ and UniQuest to develop its products and IP.
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/105801
GMG.v $GMGMF Global Patent Application Filed for Graphene Aluminium-Ion Battery Technology
by @newsfile on 30 Nov 2021, 05:00
Brisbane, Queensland, Australia--(Newsfile Corp. - November 30, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to provide an update regarding the patent status of the associated Graphene Aluminium-Ion Battery ("G+AI Battery") technology.
GMG's partner, UniQuest Pty Limited ("UniQuest"), has filed a global patent application for the G+AI Battery under the Patent Corporation Treaty ("PCT") following an initial filing on November 25, 2020. The patent application is an important step in securing the intellectual property ("IP") and global commercialisation rights for the G+AI Battery technology that GMG has rights to develop and deploy.
As reported on April 22nd 2021, GMG is developing G+AI Battery technology with the University of Queensland (or "UQ") and has entered into a licence agreement dated February 26, 2021 (the "Licence Agreement") with UniQuest Pty Limited ("UniQuest"), an entity which commercialises research work done by the University of Queensland. The Licence Agreement has a term of 20 years or longer, should patents remain in place in certain countries. Under the terms of the Licence Agreement, GMG will pay for certain patent costs as they arise and will pay Uniquest a minimum royalty on sales of G+AI Batteries.
GMG CEO, Craig Nicol, commented: "This PCT application is another important milestone for GMG. Apart from securing the IP and global commercialisation rights, it also further cements our long-term partnership with the University of Queensland and Uniquest to develop the G+AI battery, which continues to progress well."
As disclosed in GMG's prospectus dated March 31, 2021, GMG and the University of Queensland entered into a research agreement dated February 26, 2021 (the "Research Agreement"), pursuant to which both parties are working collaboratively with financial support from the Australian Government to progress research and development, and ultimately the commercialization of G+AI Batteries.
About UniQuest
UniQuest is the commercialisation company of the University of Queensland (UQ). Working at the interface between industry and UQ's researchers, UniQuest commercialises UQ's intellectual property in partnership with UQ researchers to create societal and economic impact. Established in 1984, UniQuest's commercialisation activities have placed UQ at the forefront of academic research translation in Australia.
http://uniquest.com.au/
About GMG
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 payments under the Licence Agreement, discussions of future plans and management's expectations and intentions with respect to the Research Agreement.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel, and the intention of the Company to research, develop and produce certain products, the Company's success in obtaining all necessary approvals with regard to the patent application process, the creation of IP, and the Company's success in collaborating with UQ and UniQuest to develop its products and IP.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines, the Company will be successful in obtaining all necessary approvals under the patent application process, the development and licencing of IP as anticipated, and the Company will be successful in collaborating with UQ and UniQuest to develop its products and IP.
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/105801
SKYG.v $SRKZF Sky Gold Discovers New Gold Target and Expands the Evening Star Property, Nevada
by @accesswire on 30 Nov 2021, 05:03
VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / Sky Gold Corp. (TSX-V:SKYG) (US:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to announce the discovery of another new mineralized occurrence that has returned high grade gold and silver values on its Evening Star Property, located in Mineral County, Nevada.
Known as the "Towerview Zone", the mineralization was discovered through prospecting, followed by geological mapping, rock and soil sampling, in areas north of the recently announced "High Life Copper Zone" (Press Release November 4, 2021).
A total of 65 rock samples (grab and chip samples*) have been taken over a trend length of approximately 1.0 kilometer in a West-North-West direction, by approximately 200 meters width. The arithmetic average is 2.007 parts per million gold (Au ppm), 8.71 ppm silver (Ag), 1,115 ppm copper, 595 ppm lead (Pb) and 340 ppm zinc (Zn). Peak values were 18.210 ppm Au, 97.60 ppm Ag, and +10,000 ppm Cu (i.e. 1 Cu%). Significantly, two samples comprising composite chips from limonitic, fractured felsic granitoid units, at the entrance of a historic decline adit returned 8.530 ppm Au (6.00 ppm Ag, 154 ppm Cu) across a 2.4 meter width (east side), and 6.880 ppm Au (53.5 ppm Ag, and 1,210 ppm Cu) over 1.8 meter width (west side). Table with all results are posted on the Company's website, http://skygoldcorp.com.
Seventeen (17) rock samples (*) returned +2.00 ppm Au (over 25% of the samples taken) indicating widespread gold mineralization along the 1 kilometer strike length. Two well defined gold anomalies have been identified (North-West ("NW") Target and South-East ("SE") Target) and were further investigated with two soil grids over these areas. In addition, stream sediments (silt) samples were collected over a much larger area to determine if anomalous gold and copper values may be present in bedrock away from the newly discovered Towerview target.
The Towerview target is located approximately 1.25 to 2.00 kilometers North-North-West of the center of the High Life Copper Zone. An additional 28 unpatented mineral claims have been staked and filed with the County to cover the new gold target. The gold mineralization is hosted in sheared and altered granitic rocks. Minor oxide copper mineralization was observed (malachite, azurite, chrysocolla), associated with quartz veins, veinlets, limonitic microfractures. Numerous historic workings were observed and sampled, comprising shallow shafts, declines, and trenches. Old, overgrown trails exist but no signs of modern mechanized exploration have been found. This suggesting that the targets were never drilled with modern equipment. To date no data or records have been uncovered on the historic workings and it is estimated they may be about a century old.
The Company has also completed a preliminary soil sampling survey over two areas approximately 200 by 200 meters each, over the SE target. Peak values in soil samples were 2.830 ppm Au, 10.40 ppm Ag, 930 ppm Cu, 1,370 ppm Pb, and 800 ppm Zn. The arithmetic average for the soil samples (45 samples) was 0.171 ppm Au, 0.6 ppm Ag, 141 ppm Cu, 99 ppb Pb, and 119 ppm Zn. The 90% percentile values (indicative as strongly anomalous for gold) were 0.206 ppm Au, 4.3 ppm Ag, 314 ppm Cu, 150 ppm Pb and 205 ppm Zn.
The gold-in-soil results are interpreted as strongly anomalous, with good correlation with copper and silver. The soil samples results are supportive of the anomalous values obtained from the rock sampling program which were conducted over a much larger area.
* The reader is cautioned that grab rock samples, while not representative of the grade of mineralization of an occurrence or target, are useful in determining prospectivity and geological features.
Rock and soil samples were taken by a contract geologist under supervision of a Company representative. Samples were securely shipped and received by Paragon Geochemical, an ISO (International Organization for Standardization) accredited assay laboratory, in Sparks, Nev., with chain-of-custody documentation through delivery. Mineralized commercial reference standards and blank standards are inserted into the sample stream.
Following the receipt of pending assays from the stream sediment and additional soil and rock sampling on the new Towerview zone, the Company will also be making application with the Bureau of Land Management to complete an expanded drill program. To date, the Evening Star property has received permits for 1.46 acres of disturbance, under a Notice of Intent, which allows for up to five acres of surface disturbance. EM Strategies, based in Reno, Nevada, will be contracted to assist with the new permit submittal.
Qualified Person
Garry Clark, 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 gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) 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/675224/Sky-Gold-Discovers-New-Gold-Target-and-Expands-the-Evening-Star-Property-Nevada
RKL.ca ...Crux Investor interview neighbouring Mexican lithium developer BCN.CEO Bacanora (BCN -Aim Listed UK) The project, the Sonora Lithium Project, is being developed by Gangfeng Lithium and Bacanora under a 50-50 partnership and is currently in advanced stages. The project is slated to begin production in 2023. #lithium #ganfang $RKL https://www.bacanoralithium.com/media/w ... #project-4
SKYG.v $SRKZF Quebec neighbour out with another solid raise...
Starr Peak Closes Strategic Institutional Private Placement
by @newswire on 23 Nov 2021, 07:17
VANCOUVER, BC, Nov. 23, 2021 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTC: STRPF) is pleased to announce that it has closed a non-brokered private placement of Flow-Through Units at $2.55 per Unit. The Company has issued 1,474,510 Units at $2.55 per Unit for gross proceeds of $3,760,000.50. Each Unit consists of one flow-through common share and one-half of one share purchase warrant, with each whole share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $3.25 per share for a period of 18 months from closing. The financing was completed at a substantial premium to its current share price.
Starr Peak Mining Ltd. logo (CNW Group/Starr Peak Mining Ltd.)
In connection with the closing, the Company paid a cash fee to a finder for a portion of the financing. The flow-through shares and warrants issued are subject to a hold period expiring March 23, 2022.
The proceeds from the financing will be used for drilling and exploration work on the Company's Quebec properties.
On Behalf of the Board of Directors of Starr Peak Mining Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Mining Ltd.
Starr Peak Mining Ltd. is a Canadian based mineral exploration company focused on the acquisition and exploration of precious and base metal mineral deposits. The primary objective of the Company is to acquire, explore and develop high potential and quality gold deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Information:
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Starr Peak assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward- looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
SOURCE Starr Peak Mining Ltd.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2021/23/c7747.html
RKL.ca Adding coverage to a new company here based on the strength of their recent acquisition in the Lithium space...cheers...hsb
by @accesswire on 16 Nov 2021, 05:01
Rockland Resources Acquires the Elektra Claystone Lithium Project in Sonora, Mexico
VANCOUVER, BC / ACCESSWIRE / November 16, 2021 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE:RKL) is pleased to announce it has signed an option agreement to earn a 100% interest in the very strategically located Elektra ("Elektra Project") claystone lithium project located in northern Sonora, Mexico, contiguous to the advanced Sonora Lithium Project ("Sonora") owned, and being developed, by Bacanora Lithium Plc ("Bacanora") (50%) and Ganfeng Lithium Co., Ltd. ("Ganfeng") (50%).
The Sonora project hosts (source Bacanora Annual Report December 31, 2020) "a large, scalable and high-grade lithium resource (*) with construction in progress directed at the first lithium production in 2023."
Rockland's CEO, Mike England stated "The Elektra Lithium Project acquisition represents a decisive move into the battery metal sector for Rockland, in addition to our gold exploration projects. With global lithium demand expected to quadruple by 2025, and with claystone lithium deposits recognized as a significant near-term lithium production source, the acquisition of the Elektra Project is a rare opportunity. Our knowledge of the project through an associated company, and our experience and familiarity with both the owners and the technical team that worked on the Elektra Project, will allow us to fast-track exploration activities."
Dr. Richard Sutcliffe, reports "The Elektra Lithium Project targets lithium-rich clays and claystone units, derived from alteration of shallow-dipping volcanic rocks. Rockland's exploration program will have the objective of defining a lithium resource on the Agua Fria prospect and to test multiple other lithium targets outlined by surface sampling and trenching, that could potentially be developed by low-cost, low-strip, conventional open pit mining."
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 proposed 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.
* 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.
Rockland further announces it has arranged a non-brokered private placement of 12 million units ("Units") at a price of $0.20 per Unit for aggregate gross proceeds of $2,400,000.00 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one half of one transferable Share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.30 per share. Proceeds raised from the Offering will be used towards exploration activities on the Company's newly acquired Elektra Lithium project as well as general and administrative purposes.
The Company can earn a 100% interest (less NSR) in the Elektra Lithium project through cumulative option payments of 10 million common shares in the Company and US$1.5 million over a 48 month period. A 2% NSR will be granted to the vendors and the Company will have an option to purchase 50% of the NSR for $1,000,000 at any time. A finders fee will be payable.
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.
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/673076/Rockland-Resources-Acquires-the-Elektra-Claystone-Lithium-Project-in-Sonora-Mexico
WHN.v $WTHVF Westhaven Reports 95% Gold and 96% Silver Recoveries in Preliminary Metallurgical Test Work at the Shovelnose Gold Property
by @nasdaq on 15 Nov 2021, 04:30
VANCOUVER, British Columbia, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce preliminary metallurgical test results 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 kilometers south of Merritt, British Columbia.
Gareth Thomas, President & CEO of Westhaven Gold, states: “We are pleased that two tranches of initial metallurgical test work undertaken by ALS Metallurgy Kamloops demonstrate high gold (average 95%) and silver (average 96%) recoveries from three quartz vein systems that comprise the South Zone. Mineralization is non-refractory and amenable to recovery by a standard industry process flowsheet. Results will support our maiden resource estimate on the South Zone, due in early Q1 2022.”
Highlights of Work by ALS Metallurgy Kamloops:
representative samples (14.5 to 18.0 kg mass) were submitted from each of the three main quartz vein systems within the South Zone (four from Vein Zone 1, and one each from Vein Zones 2 and 3)
feed grades for the six samples assayed between 3.3 and 37.1 g/t gold, and between 12 and 136 g/t silver – see table below for details
sulphur measured between 0.3 and 0.7%; nearly all as sulphide sulphur
carbon measured between 0.04 and 0.7%; with low levels of organic carbon (0.03 to 0.04%) with a low percentage as coarse “nugget” gold
combined flotation recovery and cyanidation extraction of gold ranged from 93 to 98% (average 95%), and for silver from 95 to 98% (average 96%)
recoveries through an industry standard process flowsheet were comparable for both lower and higher-grade samples, and for each of the three vein zones
Metallurgical Test Programs and Results:
Westhaven prepared six composite samples for preliminary metallurgical work from archived jaw crushed coarse (>70% passing 2mm square mesh sieve) ‘reject’ drill core material associated with routine sampling activities. This crushed drill core should be sufficient for scoping level testing, but there may be some degradation in the performance of the samples during testing. Westhaven has collected additional drill core from the South Zone during 2021 and, once the maiden mineral resource estimate has been completed, this fresh uncrushed core would be available for additional metallurgical testwork beyond scoping levels. Samples ranged from 14.5 to 18.0kg each (combined total of 97 kg), with four composite samples submitted to ALS Metallurgy Kamloops from Vein Zone 1 mineralization, and one each from Vein Zones 2 and 3. Results of two tranches of test work completed in 2021 are compiled in the table and figure below. A point form summary of the two metallurgical test results is also provided.
A table accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0b983c9d-b43a-42d8-802e-23bb97560b5a
A graph accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/313a6608-8e1c-4f39-ae70-212e485c1ed3
Notes:
Achieved lengths for samples VnZn1–21 and VnZn2–1933 show a slight difference due to missing coarse reject material. In VnZn1-21 a single 0.35m interval could not be found. Three samples totaling 2.1m length were missing from VnZn2–1933.
As reported by ALS Metallurgy Kamloops (“ALS”), an ISO 9001:2015 certified testing laboratory.
Gold head grade in g/t from nominal 500g screened metallic assay as reported by ALS Metallurgy Kamloops.
Silver head grade from aqua regia digestion (g/t) as reported by ALS Metallurgy Kamloops. Silver head grades were also derived from 4 acid digestion carried out by ALS Geochemistry Vancouver, and agree within a few percentage points.
Check assays on select sample materials returned from the metallurgical test work, including head feed and concentrates, were submitted by Westhaven to an independent third-party analytical facility whose results support those reported by ALS.
Primary grind sizing was a nominal 75 micron K80 (80% of material passing through a 75 micron mesh screen).
Gold and silver recovery percentages are for combined flotation recovery and cyanidation extraction, as reported by ALS Metallurgy Kamloops.
Two tranches of metallurgical testwork were undertaken by ALS Metallurgy Kamloops in 2021. Primary objectives of the first program (KM6326) were to:
Assess the chemical content of six provided samples through standard chemical assays, screened metallic gold assays, and multi-element ICP analyses.
Assess the amenability of the gold and silver within the six samples to gravity concentration through laboratory scale Knelson gravity testing with hand panning of the Knelson concentrate.
Assess the amenability of the gold and silver within the six samples to bulk froth flotation separation through rougher flotation testing.
Assess the cyanidation extraction potential of gold and silver within the six samples through cyanidation leach extraction bottle roll tests.
The second program (KM6393) was conducted as a follow-up to the initial testing to assess finer primary grind sizings and additional flowsheet configurations using the remaining sample mass. The primary objectives of the second program were to:
Assess the effect of a finer primary grind sizing on the gold and silver recovery for the six samples using bulk rougher flotation separation.
Assess the cyanidation extraction potential of gold and silver for the six samples at a finer primary grind sizing through whole ore cyanidation leach extraction bottle roll tests.
Investigate a flowsheet incorporating bulk froth flotation with cyanidation of the flotation tailings at both primary grind sizings, through cyanidation bottle roll testing on rougher tailings.
Results of the two metallurgical programs are summarized below:
Screened metallic gold grades for the six feed grades measured between 3.3 and 37.1 g/t.
Silver content by wet digestion ranged between 12 and 136 g/t.
Sulphur measured between 0.3 and 0.7 percent; nearly all as sulphide sulphur.
Carbon measured between 0.04 and 0.7 percent; with low levels of organic carbon (0.03 and 0.04 percent), suggesting that there should not be issues with reagent consumption or gold/silver preg-robbing during a cyanidation leaching procedure.
Initial investigations used a primary grind sizing of 150um K80, and supplementary work used a 75um K80 grind.
A Bond ball work index test for a composite prepared from the remaining sample mass of four of the six original samples was calculated at about 20 kWhr/tonne.
Gravity recovery and screened metallic analyses indicate that there was likely not a presence of coarse “nugget” gold, and that a gravity recovery circuit would not likely be included in mine design.
Combined flowsheet test results recorded reagent consumptions slightly lower at the coarser primary grind sizing with sodium cyanide consumptions recorded at 0.46 kg/tonne leach feed and lime consumption at about 0.66 kg/tonne leach feed. At the finer primary grind sodium cyanide consumptions averaged about 0.63 kg/tonne leach feed and lime consumption was recorded at about 0.74 kg/tonne leach feed.
ALS Metallurgy Kamloops concluded that the highest recoveries/extractions of gold and silver were produced through initial rougher flotation with cyanidation leaching of the rougher tailings. At the finer primary grind sizing, the average combined flotation recovery and cyanidation extraction of gold and silver measured 95 and 96 percent, respectively.
Recommendations for future testing include optimization of rougher tailings cyanidation conditions, cyanidation of rougher concentrates, cleaner flotation testing and a more extensive variability program – all of which would require larger masses of feed material – as well as confirming marketability of the final concentrate.
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. Results for the two metallurgical test programs were provided and approved by Robert Sloan, P.Eng, VP ALS Metallurgy Americas, a Qualified Person for the purpose of National Instrument 43-101. 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.
Primary Logo
Image 1
A point form summary of the two metallurgical test results
Image 2
South zone metallurgical samples
ILI.v $ARXRF
Diamond & Specialty Minerals Summary for Nov. 12, 2021
2021-11-12 21:03 ET - Market Summary
by Will Purcell
J.C. St-Amour's Infinite Ore Corp. ( $ILI ) lost one-half cent to 14 cents on 1.3 million shares. Infinite had a good day Thursday, adding one cent to 14.5 cents on 1.68 million shares on word that it is offering 25 million flow-through and regular shares, all at 8.5 cents, as it seeks an additional $2.12-million to advance its Jackpot lithium project in Northwestern Ontario. This follows hard on the heels of word Tuesday that the company was offering 50 million regular shares at six cents, seeking $3-million for Jackpot.
Mr. St-Amour cheers Jackpot as hosting a historical resource of two million tons averaging 1.09 per cent lithium oxide in one pegmatite and 700,000 tons at 1.38 per cent in a second, but his main pitch centres of the project's proximity to Georgia Lake, being worked by Rock Tech Lithium Inc. ( $RCK : $7.21). Georgia Lake hosts 6.6 million tonnes indicated at 1.01 per cent lithium oxide and 6.7 million tonnes inferred at 1.16 per cent. A recent dream sheet proposed a $350-million mine.
ILI.v $ARXRF Infinite Ore Increases Private Placement
by @accesswire on 10 Nov 2021, 12:58
VANCOUVER, BC / ACCESSWIRE / November 10, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) announces that it has arranged an additional non-brokered private placement of 25 million units and flow-through units ("Units") at a price of $0.085 per Unit for aggregate gross proceeds of $2,125,000.00 (the "Offering"). Each Unit will be comprised of one common share ("Share") or Flow-through share (Flow-through shares") and one transferable Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.11 per share. Proceeds raised from the Offering will be used towards exploration activities on the Company's Jackpot Lithium project and for general working capital and unallocated funds as per Tier 2 status requirements.
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
These offerings are subject to TSX Venture Exchange acceptance.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is focused on the exploration and development of its 100% owned Jackpot lithium property located near Nipigon, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Ore Corp.
View source version on accesswire.com:
https://www.accesswire.com/672230/Infinite-Ore-Increases-Private-Placement
SKYG.v $SRKZF Que neighbour out with some more great results...AMX.v $AMXEF Amex Reports 8.25 g/t Gold over 44.80 Metres and 1.22 g/t Gold over 64.75 Metres from the Denise Zone of Perron
by @newsfile on 11 Nov 2021, 00:00
Highlights from the Denise Zone include:
8.25 g/t Au over 44.80 m, including 602.00 g/t Au over 0.50 m, at a vertical depth of ~230 m in hole PE-21-337;
1.22 g/t Au over 64.75 m, including 10.96 g/t Au over 3.55 m, at a vertical depth of ~200 m in hole PE-21-305;
2.38 g/t Au over 6.50 m at a vertical depth of 260 m in hole PE-21-291;
1.36 g/t Au over 10.50 m at a vertical depth of 335 m in hole PE-21-311;
1.55 g/t Au over 8.50 m at a vertical depth of 230 m in hole PE-21-285;
1.41 g/t Au over 9.00 m at a vertical depth of 340 m in hole PE-21-382;
2.01 g/t Au over 6.50 m at a vertical depth of 290 m in hole PE-21-369;
2.65 g/t Au over 9.90 m at a vertical depth of 40 m in hole PE-21-368;
1.50 g/t Au over 19.70 m at a vertical depth of ~30 m in hole PE-21-364; and
0.76 g/t Au over 37.55 m at a vertical depth of ~100 m in hole PE-21-374.
Montreal, Quebec--(Newsfile Corp. - November 11, 2021) - Amex Exploration Inc. (TSXV: AMX) (FRA: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 36 drill holes focused on expansion and definition drilling of the Denise Zone ("Denise"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones.
Today's results are focused on near surface and on-strike expansion as well as definition drilling of the Denise Zone as the Company works towards its maiden resource on the Perron Project. A complete list of results is available in Table 1 and presented in Figure 2. In addition to the results detailed below, Amex is awaiting results on over 9,500 samples at three labs from holes targeting the HGZ, Denise, QF Zone, and Grey Cat Zone, as well as regional exploration drilling.
Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "We are very pleased to see Denise growing as this Zone has the potential to add meaningful near surface ounces to the overall gold resource at Perron. Today's results indicate that Denise is a system that exhibits both low-grade bulk tonnage and higher-grade vein type tendencies. This will provide optionality for future potential mining scenarios."
Trottier continued, "One of the major near-term goals of our coming winter drilling season is to test the expansion potential of Denise to the East along strike for at least a kilometre. Last year in July we reported in holes PE-21-262, 270, 273, and 277, all of which expand the Denise Zone eastward and even to the east of a cross-cutting late diabase dyke. There has been very little drilling to the east, as shown in Figure 1, due to better access in winter and permitting requirements. Having already intercepted gold along this trend we view this as a top priority for the coming drilling."
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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone
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Figure 2: Longitudinal section of the Denise Zone, with today's released hole locations in green and/or labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.
To view an enhanced version of Figure 2, please visit:
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Table 1: Assay results from the Denise Zone at Perron
Denise Zone Results
Hole ID From (m) To (m) Length (m) Au (g/t) Zone Vertical depth (m)
PE-21-337 255.20 300.00 44.80 8.25 Denise Zone ~230 and 270
Including 255.20 255.70 0.50 602.00
And 339.70 340.20 0.50 34.29
PE-21-305 199.85 264.60 64.75 1.22 Denise Zone ~200 and 270
Including 205.00 208.55 3.55 10.96
And 356.50 357.00 0.50 41.75
PE-21-291 327.00 333.50 6.50 2.38 Denise Zone ~260
Including 333.00 333.50 0.50 25.87
PE-21-322 274.50 277.50 3.00 2.38 Denise Zone ~230 and 260
And 305.70 319.50 13.80 1.12
Including 310.30 311.30 1.00 6.82
PE-21-311 373.55 377.35 3.80 1.93 Denise Zone ~320 and 335
And 405.00 415.50 10.50 1.36
Including 415.00 415.50 0.50 22.08
PE-21-285 269.50 274.00 4.50 1.51 Denise Zone ~200 and 230
Including 269.50 270.00 0.50 11.76
And 321.00 329.50 8.50 1.55
PE-21-354 208.40 238.05 29.65 0.54 Denise Zone ~150 and 180
Including 222.00 226.20 4.20 2.88
PE-21-382 309.00 312.00 3.00 6.23 Denise Zone ~260 and 340
And 412.50 421.50 9.00 1.41
PE-21-381 345.00 348.00 3.00 3.89 Denise Zone ~280
PE-21-369 195.00 199.50 4.50 1.38 Denise Zone ~160 and 290
And 230.10 230.60 0.50 31.87
And 343.10 349.60 6.50 2.01
PE-21-368 66.70 76.60 9.90 2.65 Denise Zone ~40 and 180
And 226.90 227.40 0.50 25.47
PE-21-364 33.00 52.70 19.70 1.50 Near Surface Denise Zone ~30
Including 52.20 52.70 0.50 44.11
PE-21-374 101.45 139.00 37.55 0.76 Near Surface Denise Zone ~100
Including 105.00 109.50 4.50 2.66
PE-21-279 57.00 57.50 0.50 0.80 Near Surface Denise Zone ~40
PE-21-278 150.40 150.90 0.50 1.12 Near Surface Denise Zone ~100
PE-21-363 81.50 84.00 2.50 0.88 Near Surface Denise Zone ~60
PE-21-358 83.00 85.50 2.50 1.87 Near Surface Denise Zone ~60
PE-21-303 148.55 149.45 0.90 0.98 Near Surface Denise Zone ~100
PE-21-298 108.50 115.50 7.00 0.38 Near Surface Denise Zone ~70
PE-21-304 73.50 80.60 7.10 0.71 Near Surface Denise Zone ~50
PE-21-355 70.50 80.85 10.35 0.30 Near Surface Denise Zone ~50 and 90
And 106.50 109.50 3.00 0.48
And 119.05 128.80 9.75 0.31
PE-21-351 47.50 48.50 1.00 1.39 Near Surface Denise Zone ~35
PE-21-308 151.00 151.50 0.50 1.41 Near Surface Denise Zone ~100 and 130
And 169.50 172.05 2.55 0.65
And 193.50 194.55 1.05 0.63
PE-21-312 140.75 142.00 1.25 0.52 Near Surface Denise Zone ~100
PE-21-314 78.00 81.00 3.00 1.23 Near Surface Denise Zone ~50
PE-21-252 130.95 133.85 2.90 0.78 Near Surface Denise Zone ~90
PE-21-254 31.50 33.00 1.50 1.57 Near Surface Denise Zone ~20
PE-21-317 91.20 94.70 3.50 2.67 Near Surface Denise Zone ~65
PE-21-320 52.50 56.00 3.50 1.17 Near Surface Denise Zone ~30
PE-21-325 35.00 35.80 0.80 2.20 Near Surface Denise Zone ~20
PE-21-327 21.00 22.50 1.50 0.88 Near Surface Denise Zone ~15
PE-21-330 51.50 54.85 3.35 1.80 Near Surface Denise Zone ~40
PE-21-332 25.00 25.50 0.50 11.86 Near Surface Denise Zone ~15
PE-21-335 31.00 34.00 3.00 1.36 Near Surface Denise Zone ~20 and 50
And 69.00 73.00 4.00 0.45
PE-21-339 26.75 31.00 4.25 0.47 Near Surface Denise Zone ~50
And 67.50 68.05 0.55 13.74
PE-21-341 56.50 57.00 0.50 5.21 Near Surface Denise Zone ~60
And 85.50 87.00 1.50 3.77
Qualified Person
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.
About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
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ILI.v $ARXRF Infinite Ore Launches Private Placement
by @accesswire on 9 Nov 2021, 04:01
VANCOUVER, BC / ACCESSWIRE / November 9, 2021 / Infinite Ore Corp. (the "Company") (ILI-TSX:V) (OTCQB:ARXRF) announces that it has arranged a non-brokered private placement of 50 million units ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $3,000,000.00 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one transferable Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.10 per share. Proceeds raised from the Offering will be used towards exploration activities on the Company's Jackpot Lithium project and for general working capital and unallocated funds as per Tier 2 status requirements.
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
These offerings are subject to TSX Venture Exchange acceptance.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is focused on the exploration and development of its 100% owned Jackpot lithium property located near Nipigon, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Ore Corp.
View source version on accesswire.com:
https://www.accesswire.com/671850/Infinite-Ore-Launches-Private-Placement
BARU.v $BARUF Baru Gold Closes $1 Million First Tranche of Financing
by @thenewswire on 4 Nov 2021, 14:35
(TheNewswire)
Baru Gold Corp.
Vancouver, BC – TheNewswire - November 4, 2021 - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) (OTC:BARUF) is pleased to announce that it has closed $1,002,000.00, issuing 10,020,000 Units in the first tranche of the $1.6 million financing previously announced on October 18, 2021. Each unit will be comprised of one common share in the capital of the Company (a "Share") and one-half common share purchase warrant (a "Warrant"). Each full Warrant shall be exercisable into one Share at an exercise price of $0.17 for 2 years from the date such Warrant is issued. The private placement (the "Private Placement") consists of up to 16,000,000 units priced at $0.10 per unit (the “Unit”).
In this tranche, finder’s fees of $29,890.00 are payable in cash on a portion of the private placement to parties at arm’s length to the Company. In addition, 291,900 non-transferable finder’s warrants to purchase up to 291,900 Shares are being issued (the “Finder’s Warrants”), the Finder’s Warrants having the same terms as the Warrants.
All securities issued in the first tranche of the Private Placement will be subject to a four-month hold period expiring March 5, 2022.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.
The proceeds raised from the Private Placement will be used to further the exploration program and to provide support for the start-up of production at the Sangihe Gold project, and for general working capital.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in late 2021/early 2022.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Closes $1 Million First Tranche of Financing
by @thenewswire on 4 Nov 2021, 14:35
(TheNewswire)
Baru Gold Corp.
Vancouver, BC – TheNewswire - November 4, 2021 - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) (OTC:BARUF) is pleased to announce that it has closed $1,002,000.00, issuing 10,020,000 Units in the first tranche of the $1.6 million financing previously announced on October 18, 2021. Each unit will be comprised of one common share in the capital of the Company (a "Share") and one-half common share purchase warrant (a "Warrant"). Each full Warrant shall be exercisable into one Share at an exercise price of $0.17 for 2 years from the date such Warrant is issued. The private placement (the "Private Placement") consists of up to 16,000,000 units priced at $0.10 per unit (the “Unit”).
In this tranche, finder’s fees of $29,890.00 are payable in cash on a portion of the private placement to parties at arm’s length to the Company. In addition, 291,900 non-transferable finder’s warrants to purchase up to 291,900 Shares are being issued (the “Finder’s Warrants”), the Finder’s Warrants having the same terms as the Warrants.
All securities issued in the first tranche of the Private Placement will be subject to a four-month hold period expiring March 5, 2022.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.
The proceeds raised from the Private Placement will be used to further the exploration program and to provide support for the start-up of production at the Sangihe Gold project, and for general working capital.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in late 2021/early 2022.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2021 TheNewswire - All rights reserved.
SKYG.v $SRKZF Sky Gold Discovers New Copper Target on the Evening Star Property, Nevada
by @accesswire on 4 Nov 2021, 05:03
VANCOUVER, BC / ACCESSWIRE / November 4, 2021 / Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to announce the discovery of a new zone of surface copper mineralization on its Evening Star Property, located in Mineral County, Nevada.
Discovered through prospecting, geological mapping, rock and soil sampling, the new target known as the "High Life Zone" was sampled over an area approximately 200 by 400 meters. Fifteen (15) surface grab samples averaged 0.42 percent copper (% Cu), and 11.7 parts per million silver (Ag ppm). Peak values were 1.54 Cu % and 63.7 Ag ppm. The table below summarizes all rock samples received from the preliminary sampling.
The Evening Star property is prospective for CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization and has previously been explored for copper-gold porphyry mineralization. The property is located 12 kilometers southeast of the town of Hawthorne, north of, and contiguous to the Pamlico property, owned by Newrange Gold Corp.
The High Life Zone is located approximately 250 meters north of the Gold Bug mine workings. The copper mineralization appears as copper oxides (malachite, azurite, chrysocolla), associated with quartz veins, veinlets, limonitic microfractures and disseminated in a quartz monzonite porphyry host rock interpreted as Cretaceous in age. To date, no carbonate rocks have been observed. Outcrop exposure is limited due to widespread sandy, druzy, weathered granodiorite cover (windblown) but the grab rock samples are interpreted to reflect subcrop mineralization under relatively thin cover.
The Company has also completed a preliminary soil sampling survey over the same area that the rock samples were collected, comprised of 33 samples. The arithmetic average for the soil samples was 0.040 ppm Au, 1.8 ppm Ag, 479 ppm Cu, 77 ppb Pb, and 173 ppm Zn. The 90% percentile values (indicative as strongly anomalous) were 0.099 ppm Au, 7.6 ppm Ag, 1197 ppm Cu (0.12% Cu), 195 ppm Pb and 419 ppm Zn.
These soil results are interpreted as strongly anomalous for copper and silver and are supportive of the anomalous values obtained from the rock sampling program. The soil geochemistry is also anomalous for gold which was not reflected in the rock sample assays. In addition, some rock and soil samples are elevated in bismuth and arsenic which may indicate multiple phases of mineralization.
Following the receipt of pending assays from additional soil and rock sampling on the new copper area, the Company will also be making application with the Bureau of Land Management to complete an expanded drill program. To date, the Evening Star property has received permits for 1.46 acres of disturbance, under a Notice of Intent, which allows for to five acres of surface disturbance. EM Strategies, based in Reno, Nevada, will be contracted to assist with the new permit submittal.
Qualified Person
Sky Gold'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 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 also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization. The Company also owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/671112/Sky-Gold-Discovers-New-Copper-Target-on-the-Evening-Star-Property-Nevada
SKYG.v $SRKZF Que neighbour out with some rich stuff...Starr Peak (STE.v) Reports Results of its Ongoing 2021 Drilling Campaign with Multiple VMS Intersects Up To 6.65% Zinc-Equivalent Over 13.45 Metres Including Copper Rich Sub Intersect of 3.83% Cu Over 2.25 Metres
by @newswire on 2 Nov 2021, 06:01
VANCOUVER, BC, Nov. 2, 2021 /CNW/ - Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTC:STRPF) is very pleased to announce a number of drill results from its ongoing 2021 drilling campaign on its NewMétal property ("NewMétal" or "the Property"), located in the Abitibi Greenstone Belt of Quebec near the town of Normétal. The NewMétal project also includes the past-producing Normétal Mine, from which ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag were produced (Boivin, 1988). Results are extending the Upper and Deep zones, located directly under Normetmar trend at depth. See below Table 1, Table 2 and Figure 1 showing up to date assay results and Zinc Equivalent (Zn_Eq) calculations of drill hole mineralized intervals.
Highlights
Upper Zone (above 400m vertically)
STE-21-66: 13.45 m of 6.65 % ZnEq, incl. 3.83% Cu over 2.25m
Deep Zone (below 400m vertically)
STE-21-59-W3: 10.1 m of 6.16 % ZnEq
Johnathan More, Chairman and CEO of Starr Peak commented, "The two Zones are delivering high copper mineralization zonation which is as expected in polymetallic VMS deposits. The Deep Zone and related targets at depth will add to our understanding of this mineralized system as it is open for extensions in several directions. We are also very excited by the just initiated exploration program along the Normétal-Normetmar lithological contact."
Table 1 – Deep zone
Table 1 – Deep zone (CNW Group/Starr Peak Mining Ltd.)
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
Table 2 – Upper zone (CNW Group/Starr Peak Mining Ltd.)
Intervals are reported as drill core lengths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below
Drilling continues on the project targeting the Deep Zone below 600m vertical depth. A second drill has started targeting the 4 km long prolific Normetmar-Normétal lithological contact within the property, taking into account the many new massive sulphide intercepts in 2021.
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 have not been validated otherwise than with the information inside historical reports and cross sections. Exact location of historical drill hole pierce points on the longitudinal may be different.
The Company wishes to caution that historical resources described above are historical. The historic resources are relevant to give a ballpark estimate of the potential on the property. Historical resources should not be relied upon. The key assumptions, parameters and methods used to prepare the historical estimate is not known and thus the difference between the historic estimates and NI 43-101 compliant estimates is also not known. The historical estimates used categories other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not reviewed the historical estimates and has not done sufficient work to classify the historical estimates as current mineral resources and Starr Peak is not treating the historical estimates as current mineral resources under National Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration work needs to be done to correctly evaluate these historical resources. Additionally, the methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
On Behalf of the Board of Directors of Starr Peak Mining Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Mining Ltd.
Starr Peak Mining Ltd. is a Canadian based mineral exploration company focused on the acquisition and exploration of precious and base metal mineral deposits. The primary objective of the Company is to acquire, explore and develop high potential and quality gold and base metal deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Information:
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Starr Peak assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
Starr Peak Mining Ltd. (CNW Group/Starr Peak Mining Ltd.)
SOURCE Starr Peak Mining Ltd.
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SKYG.v $SRKZF Sky Gold Provides Update on Drill Program on the Evening Star Property, Nevada
by @accesswire on 1 Nov 2021, 07:57
VANCOUVER, BC / ACCESSWIRE / November 1, 2021 / Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to provide an update on diamond drilling activities on its Evening Star Property, located in Mineral County, Nevada.
The Company initiated a diamond drill program on the Evening Star property on July 27, 2021. One drill hole (ES-21-01) was completed to a depth of 256.3 meters (851 ft) at the Gold Bug target, where there are strong coincident geophysical (gravity and magnetic) anomalies (refer to press release March 17, 2021) interpreted to be related to silver-rich base-metal skarn and/or CRD mineralization. Assays are pending for hole ES-21-01. The drill program for Evening Star proposed 2,500 meters, designed in 12 to 15 holes with eight drill site areas permitted on the Gold Bug, Golden Eagle-Golden Bomber and Good Hope 2 targets. Regrettably, since August 23, 2021, drilling was suspended due to complications related to Covid-19.
Drilling has now resumed on the property at the Gold Bug target utilizing the same rig and drill contractor (Altar Drilling Inc. of Tucson, AZ). The Evening Star property is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization and is located 12 kilometers southeast of the town of Hawthorne. The property is north of, and contiguous to the Pamlico property, owned by Newrange Gold Corp.
Qualified Person
Sky Gold'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 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 also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization. The Company also owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/670567/Sky-Gold-Provides-Update-on-Drill-Program-on-the-Evening-Star-Property-Nevada
ILI.v $ARXRF Nice weekly candle forming here +37.50% so far, volume increasing. https://schrts.co/GHSiAmSc