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GMG.v $GMGMF Midas Letter CEO Interview Graphene Manufacturing Group... Next Generation Batteries for Phones, Cars & Houses
Midas Letter CEO Interview Graphene Manufacturing Group ($GMG, $GMGMF) Next Generation Batteries for Phones, Cars & Houses
by @newsfile on 26 Oct 2021, 02:00
GMG Commences Construction of Graphene Aluminium-Ion Battery Pilot Plant
Highlights:
Construction of the Pilot Battery Plant has commenced with commissioning expected in November, 2021.
The company has purchased additional equipment to manufacture G+AI Battery prototypes in pouch pack cell format in addition to coin cell format.
Commercial prototypes for coin cell and pouch pack batteries remain on target (see July 14, 2021 press release titled "GMG Announces In-House Battery Pilot Plant Investment").
GMG has secured a site for a new headquarters and Pilot Battery Plant facility.
Brisbane, Queensland--(Newsfile Corp. - October 26, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to provide an update on the pilot production and testing plant (the "Pilot Battery Plant") for GMG's graphene aluminium-ion batteries ("G+IA Batteries") announced in the Company's news release dated July 14, 2021.
Construction of the Pilot Battery Plant has commenced with commissioning of the facility expected to begin in November, 2021. The Pilot Battery Plant will be located in a recently secured new headquarters and production facility in Brisbane.
Further, the Company has committed additional expenditures to allow the Pilot Battery Plant to produce pouch pack cell format batteries in addition to the previously announced coin cell format. This addition to the facility is intended to potentially accelerate the development of G+AI Battery pouch packs and allow early collaboration with some of GMG's major customer prospects and their specific requirements. Pouch pack cells are typically used in personal electronics such as cell phones, laptops, as well as in electric vehicles and grid storage batteries. Revenue from the Pilot Battery Plant is not expected to be significant.
Pilot production of a prototype coin cell battery is targeted before the end of 2021 and a pouch pack commercial prototype battery is targeted before the end of 2022. Subject to successful commercial prototypes and a final investment decision, GMG expects 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.
GMG's Managing Director and CEO, Craig Nicol, commented: "We are excited to shortly be able to develop, manufacture and test our own G+AI Battery coin cell and pouch packs in-house, in continued collaboration with the University of Queensland. This will allow us to potentially accelerate the development of our G+AI Batteries, work with our future customers and further build on our internal expertise. Our new headquarters in Brisbane, Australia, will enable GMG to have graphene manufacturing, graphene fluid blending, the G+AI Battery pilot plant as well as our global headquarters all under one roof which will greatly enhance our overall efficiency."
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 low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance 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 discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: commissioning of the Pilot Battery Plant; the timing of development of a commercial prototype coin cell battery and a pouch pack commercial prototype battery; and the construction of an initial commercial coin cell G+AI Battery manufacturing facility.
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.
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 that results of testing and development data will be consistent with anticipated results and estimates.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100819
GMG.v $GMGFF GMG Commences Construction of Graphene Aluminium-Ion Battery Pilot Plant
by @newsfile on 26 Oct 2021, 02:00
Highlights:
Construction of the Pilot Battery Plant has commenced with commissioning expected in November, 2021.
The company has purchased additional equipment to manufacture G+AI Battery prototypes in pouch pack cell format in addition to coin cell format.
Commercial prototypes for coin cell and pouch pack batteries remain on target (see July 14, 2021 press release titled "GMG Announces In-House Battery Pilot Plant Investment").
GMG has secured a site for a new headquarters and Pilot Battery Plant facility.
Brisbane, Queensland--(Newsfile Corp. - October 26, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to provide an update on the pilot production and testing plant (the "Pilot Battery Plant") for GMG's graphene aluminium-ion batteries ("G+IA Batteries") announced in the Company's news release dated July 14, 2021.
Construction of the Pilot Battery Plant has commenced with commissioning of the facility expected to begin in November, 2021. The Pilot Battery Plant will be located in a recently secured new headquarters and production facility in Brisbane.
Further, the Company has committed additional expenditures to allow the Pilot Battery Plant to produce pouch pack cell format batteries in addition to the previously announced coin cell format. This addition to the facility is intended to potentially accelerate the development of G+AI Battery pouch packs and allow early collaboration with some of GMG's major customer prospects and their specific requirements. Pouch pack cells are typically used in personal electronics such as cell phones, laptops, as well as in electric vehicles and grid storage batteries. Revenue from the Pilot Battery Plant is not expected to be significant.
Pilot production of a prototype coin cell battery is targeted before the end of 2021 and a pouch pack commercial prototype battery is targeted before the end of 2022. Subject to successful commercial prototypes and a final investment decision, GMG expects 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.
GMG's Managing Director and CEO, Craig Nicol, commented: "We are excited to shortly be able to develop, manufacture and test our own G+AI Battery coin cell and pouch packs in-house, in continued collaboration with the University of Queensland. This will allow us to potentially accelerate the development of our G+AI Batteries, work with our future customers and further build on our internal expertise. Our new headquarters in Brisbane, Australia, will enable GMG to have graphene manufacturing, graphene fluid blending, the G+AI Battery pilot plant as well as our global headquarters all under one roof which will greatly enhance our overall efficiency."
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 low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance 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 discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: commissioning of the Pilot Battery Plant; the timing of development of a commercial prototype coin cell battery and a pouch pack commercial prototype battery; and the construction of an initial commercial coin cell G+AI Battery manufacturing facility.
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.
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 that results of testing and development data will be consistent with anticipated results and estimates.
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/100819
SKYG.v $SRKZF neighbour in Newfoundland out with drilling announcement on the Mustang Northern border (Schooner North) and within the Mustang claimbock (Schooner South)...
Exploits Starts Phase Ii Drilling at Schooner and Applies for Three New Drill Permits on the Appleton Fault
by @thenewswire on 26 Oct 2021, 00:05
(TheNewswire)
Exploits Discovery Corp.
Vancouver, British Columbia - TheNewswire - October 26th, 2021 - Exploits Discovery Corp. (“Exploits” or the “Company”) (CNSX:NFLD.CN) (OTC:NFLDF) (FSE:634-FF) is pleased to announce the Company has started Phase II drilling on the Schooner Fault. Work continues on analysis of VTEM data which has now been acquired across almost all of Exploits exploration ground in Newfoundland. Three additional high priority target areas have been chosen for drill permitting on the northern end of the Appleton Fault.
Highlights
- Exploits has completed 4,470 m of drilling at Jonathan’s Pond for a total of 21 drill holes on the JP Vein where there is visible gold in outcrop with assays of up to 24 g/t Au.
- Exploits has started Phase II drilling with a target of 6 drill holes and 3,000 m of drilling at Schooner North and 10 drill holes and 2,500 m of drilling at Schooner South.
- Exploits has started site preparation work for drilling at Little Joanna high grade targets where there is visible gold in outcrop with assays of up to 194 g/t Au.
- Based on new VTEM and ground magnetics data, integrated into the prospecting work completed in the last year, the Company is initiating permitting on Appleton Fault drill targets Duder Lake, Titan South and Appleton North central targets.
President and CEO Jeff Swinoga comments, “While we are still waiting on assay results from Phase I Schooner drilling, the oriented core logging data from the Phase I drill allows us to start our follow up in advance of receipt of assays. The Company is excited to start to see the synthesis of the geophysics and field work producing new targets on the Appleton Fault while we wait for assay results from current drilling.”
Schooner Fault Drilling
The Schooner Fault Zone was identified in early 2021 through historical compilation work of historic till samples, re-interpretation of regional magnetic geophysics, and Exploits’ partner GoldSpot Discoveries Corp.’s (TSXV: SPOT) data analysis techniques. The results delineated a fault structure with coincident gold in till samples trending parallel to the Appleton Fault, approximately 3.5 km to the east, that hosts New Found Gold’s Keats, Lotto, and Knob gold discoveries. Phase II was planned following detailed analysis of the geophysical data and drill core information from the Phase I program.
Click Image To View Full Size
Figure 1: Exploits Discovery Corp.’s Schooner Prospect drill targets. Note: Drill collars in the map are not final and subject to change based on the drill results.
Appleton Fault Drill Targets
Exploits Dog Bay claims on the Port Albert Peninsula cover over 30 km of strike of the Appleton Fault as well as a greater length of the Dog Bay Line Fault. The secondary and tertiary splay faults off of the Appleton Fault are known to host New Found Gold’s Keats Zone gold discovery as well New Found Gold’s other discoveries to the south. Similarly, Labrador Gold’s Big Vein discovery is located along a splay fault off the Appleton Fault. As a generalization there is a target zone 500 m to the east and to the west of the Appleton Fault that appears to be most prospective for gold mineralization along these lower order faults and interpreted structural wedges that are found to host them.
The Duder Lake, Titan South and Appleton North targets have historic gold showings within the Appleton Fault target zone. Work in 2021 demonstrated the potential for more significant discovery at these targets with soils, prospecting, and airborne and ground geophysics. The presence of visible gold to the north at Quinlan veins further demonstrates the potential of the Appleton Fault through the full length of the Dog Bay claims.
Click Image To View Full Size
Appleton Fault; Drill targeting at Duder Lake, Titan South and Appleton North
National Instrument 43-101 disclosure
Nick Ryan, P.Geo, is Senior Geologist for the Company and qualified person as defined by National Instrument 43-101. Mr. Ryan supervised the preparation of the technical information in this news release.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The Company currently holds the Jonathan's Pond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend, and Gazeebow projects covering approximately 2,000 square kilometres of mineral tenements. The PB Hill projects syndicate covers an additional area of almost 2,000 square kilometres.
With five permitted drill targets and three new drill permit applications pending, Exploits is systematically drill-testing targets. The Company is well financed and positioned for discovery.
Exploits believes that the Exploits Subzone Gold Belt, which runs 200 km from Dog Bay southwest to Bay d'Espoir, has been neglected since the last major exploration campaigns in the 1980s. The last 40 years have seen incremental advancements in the understanding of gold mineralization in the camp. The sum of this knowledge is now coming together in discrete and effective exploration models that have delivered results including New Found Gold's 2019 discovery hole. The Exploits Subzone and GRUB regions have been the focus of major staking and financing since late 2019.
The team at Exploits, with significant local experience and knowledge, have studied the entirety of the Exploits Subzone and surrounding regions, and have picked individual land packages for staking or joint ventures, where there are opportunities for world class discoveries and mine development. Exploits intends to leverage its local team and the larger shift in geologic understanding and become one of the most extensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Jeff Swinoga "
President and CEO
For further information, please contact:
Christopher Huggins, Director
(778) 819-2708
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain 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. Readers 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 including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Acknowledgments
Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.
Copyright (c) 2021 TheNewswire - All rights reserved.
GMG And BOSCH Sign Collaboration Arrangement For BOSCH To Design and Deliver GMG's Graphene Aluminium-Ion Battery Manufacturing Plant
by @newsfile on 25 Oct 2021, 03:00
Brisbane, Queensland, Australia--(Newsfile Corp. - October 25, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to announce that 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 a Graphene Aluminium Ion Battery ("G+AI Battery") manufacturing plant.
Robert Bosch Australia Pty Ltd is a subsidiary of the BOSCH Group, a global provider of integrated production line solutions, automation, robotics and testing equipment. BOSCH will support GMG in learning and developing the automation of the battery assembly process and use the results from the GMG G+AI Battery pilot plant to support the scaling of these into fully automated plants. The parties' intent is for BOSCH to become GMG's engineering, design and construction contractor for GMG's near and long-term battery cell manufacturing facility needs (both coin cell and pouch pack).
GMG's Managing Director and CEO, Craig Nicol, commented: "We are proud and excited to be partnering with BOSCH. They are a major, world leading company in this space with outstanding capability to help provide highly automated, efficient and reliable battery manufacturing plants. It has been great working with the BOSCH Australia team so far and we look forward to building a strong long-term partnership with them."
Gavin Smith, President of BOSCH Australia said: "We are delighted to have been chosen by GMG as its long-term factory automation partner. We are excited to bring Bosch's world class technology and expertise to support GMG commercialise its innovative battery technology, with an automated coin cell manufacturing plant the first cab off the ranks."
GMG's commitment to an initial commercial G+AI Battery manufacturing plant, which is planned to produce batteries in coin cell format, is expected to follow successful commercial G+AI Battery prototype development and a final investment decision. The location is not yet decided but is expected to be in Australia where GMG's headquarters and existing operations are located.
Further to the Company's news release dated July 14, 2021, the G+AI Battery pilot plant equipment has been received and the Company intends to commence construction and commissioning shortly.
Following previously announced performance results of GMG's G+AI Battery and highly encouraging customer feedback, the Company believes that it remains on track to develop a commercial prototype coin cell battery before the end of 2021, and thus continues to progress preparations for a commercial scale battery manufacturing facility in parallel. For further information, see the Company's news release dated May 5th 2021 and June 22nd, 2021.
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 low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
About Bosch
Bosch is a preferred supplier of advanced manufacturing solutions and integrations to Australian businesses. Bosch Australia Manufacturing Solutions (BAMS) is committed to strengthening the competitiveness of the Australian manufacturing sector. BAMS has become one of the country's leading factory automation companies, working with a diverse array of blue-chip, mid-tier and start-up manufacturers to automate their manufacturing. With over 50 years of manufacturing experience and factory automation know-how, BAMS aims to help Australian manufacturers become fit for the future.
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 press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking information in this press release includes, but is not limited to, statements relating to: the Letter of Intent and entering into binding agreements with BOSCH, construction of the G+AI Battery manufacturing plant, the Company's partnership with BOSCH, the G+AI Battery pilot plant equipment, the Company's pursuit of additional opportunities for GMG graphene, and the development of a commercial prototype coin cell battery.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, the Company will be successful in negotiating binding agreements with BOSCH as anticipated, the Company will be successful in obtaining all necessary approvals under the Letter of Intent and any binding agreement, the construction of the G+AI Battery manufacturing plant will be completed as anticipated, the Company will secure a partnership with BOSCH as anticipated, the Company the Company will be able to commence construction and commissioning of the G+AI Battery pilot plant equipment on the anticipated timelines, the Company will be successful in collaborating with universities in Australia to develop its products, the Company will be able to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels, and that the Company will be able to develop a commercial prototype coin cell battery before the end of 2021.
Forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the Company will not be successful in negotiating binding agreements with BOSCH, the Company will not be successful in obtaining all necessary approvals under the Letter of Intent and any binding agreement, the construction of the G+AI Battery manufacturing plant will not be completed as anticipated, the Company will not be able to secure a partnership with BOSCH as anticipated, the Company will not be able to commence construction and commissioning of the G+AI Battery pilot plant equipment on the anticipated timelines, the Company will not be successful in collaborating with universities in Australia to develop its products, the Company will not be able to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels, and that the Company will not be able to develop a commercial prototype coin cell battery before the end of 2021. Such forward-looking information represents management's best judgment based on information currently available. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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SKYG.v $SRKZF neighbour in Newfoundland NFG.v out with a revamped drill program...New Found Announces Doubling of Drill Program to 400,000m and Increase to 14 Drill Rigs
by @newswire on 25 Oct 2021, 03:00
VANCOUVER, BC, Oct. 25, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (NYSE American: NFGC) is pleased to announce an expansion of the exploration program at its 100% owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15km west of Gander, Newfoundland. To date the Company has completed approximately 51% (~102,000m) of its current 200,000m diamond drill program at Queensway. Approximately 24,000 meters of drill core is pending assay results.
New Found Gold Corp. Logo (CNW Group/New Found Gold Corp.)
Highlights
Nine core rigs are currently operating, with a tenth scheduled to commence in the first week of November. New Found is targeting an increase in the drill count to 14 rigs with the addition of two core rigs by the end of 2021, followed by two additional rigs in Q1 2022. The ramp up from 9 to 14 drills represents a 55% increase in the drill count with a corresponding increase in the rate of core production from approximately 3,000m per week to approximately 4,700m per week.
New Found plans to increase the current program at the Queensway project to a total of 400,000m, including the approximately 102,000m completed to date. Permit applications for this expansion have now been submitted. This expanded drill program is fully funded out of the Company's current working capital balance of approximately $103 million, which is anticipated to increase to approximately $150 million on closing of the recently announced financing by Eric Sprott. 1
New Found anticipates commencement of construction of a new 25,000 sq ft core processing facility in the next several weeks (the "Giga-Shack") following approval of its permit applications. This facility is budgeted at approximately $3 million and is scheduled to be completed by the end of Q1 2022. This state-of-the-art facility will be capable of handling the logging and processing of core from the expanded exploration program and in fact if required provides sufficient capacity for additional increases in the drilling rate. The Giga-Shack will include 27 offices covering 10,000 sq ft, in addition to 15,000 sq ft of core processing space, a roughly 3x increase to New Found's existing Gander facilities.
New Found also continues to actively recruit additional professional and support staff to add to its growing team in Gander, which now totals 178 people.
Greg Matheson COO of New Found, stated: "To date our Queensway program has delivered three high-grade gold discoveries (Keats, Lotto, and Golden Joint) over 2.6km of strike along the Appleton Fault Zone. At the same time, we continue to generate and advance multiple other high-grade gold targets at the Appleton and JBP Faults along +20km of strike on Queensway North. With several new, high-priority targets and a plan for initial drilling at Queensway South in the coming months, the addition of these new rigs will allow the Company to continue to step-out at Keats, Lotto, and Golden Joint, while also honing in on other potential discoveries. Recognizing our success rate to date, we are excited to now more aggressively pursue further potential high-grade gold discoveries at Queensway."
___________________________
1
Note that this additional financing is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange (the "TSXV") and approval by the shareholders of the Company if required by the TSXV.
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 October 25, 2021, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. With a current working capital balance of approximately $103 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Phone: + 1 (910) 406 2407
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.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/new-found-announces-doubling-of-drill-program-to-400-000m-and-increase-to-14-drill-rigs-301407322.html
SOURCE New Found Gold Corp.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/25/c6146.html
GMG.v $GMGFF GMG And BOSCH Sign Collaboration Arrangement For BOSCH To Design and Deliver GMG's Graphene Aluminium-Ion Battery Manufacturing Plant
by @newsfile on 25 Oct 2021, 03:00
Brisbane, Queensland, Australia--(Newsfile Corp. - October 25, 2021) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to announce that 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 a Graphene Aluminium Ion Battery ("G+AI Battery") manufacturing plant.
Robert Bosch Australia Pty Ltd is a subsidiary of the BOSCH Group, a global provider of integrated production line solutions, automation, robotics and testing equipment. BOSCH will support GMG in learning and developing the automation of the battery assembly process and use the results from the GMG G+AI Battery pilot plant to support the scaling of these into fully automated plants. The parties' intent is for BOSCH to become GMG's engineering, design and construction contractor for GMG's near and long-term battery cell manufacturing facility needs (both coin cell and pouch pack).
GMG's Managing Director and CEO, Craig Nicol, commented: "We are proud and excited to be partnering with BOSCH. They are a major, world leading company in this space with outstanding capability to help provide highly automated, efficient and reliable battery manufacturing plants. It has been great working with the BOSCH Australia team so far and we look forward to building a strong long-term partnership with them."
Gavin Smith, President of BOSCH Australia said: "We are delighted to have been chosen by GMG as its long-term factory automation partner. We are excited to bring Bosch's world class technology and expertise to support GMG commercialise its innovative battery technology, with an automated coin cell manufacturing plant the first cab off the ranks."
GMG's commitment to an initial commercial G+AI Battery manufacturing plant, which is planned to produce batteries in coin cell format, is expected to follow successful commercial G+AI Battery prototype development and a final investment decision. The location is not yet decided but is expected to be in Australia where GMG's headquarters and existing operations are located.
Further to the Company's news release dated July 14, 2021, the G+AI Battery pilot plant equipment has been received and the Company intends to commence construction and commissioning shortly.
Following previously announced performance results of GMG's G+AI Battery and highly encouraging customer feedback, the Company believes that it remains on track to develop a commercial prototype coin cell battery before the end of 2021, and thus continues to progress preparations for a commercial scale battery manufacturing facility in parallel. For further information, see the Company's news release dated May 5th 2021 and June 22nd, 2021.
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 low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
About Bosch
Bosch is a preferred supplier of advanced manufacturing solutions and integrations to Australian businesses. Bosch Australia Manufacturing Solutions (BAMS) is committed to strengthening the competitiveness of the Australian manufacturing sector. BAMS has become one of the country's leading factory automation companies, working with a diverse array of blue-chip, mid-tier and start-up manufacturers to automate their manufacturing. With over 50 years of manufacturing experience and factory automation know-how, BAMS aims to help Australian manufacturers become fit for the future.
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 press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking information in this press release includes, but is not limited to, statements relating to: the Letter of Intent and entering into binding agreements with BOSCH, construction of the G+AI Battery manufacturing plant, the Company's partnership with BOSCH, the G+AI Battery pilot plant equipment, the Company's pursuit of additional opportunities for GMG graphene, and the development of a commercial prototype coin cell battery.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, the Company will be successful in negotiating binding agreements with BOSCH as anticipated, the Company will be successful in obtaining all necessary approvals under the Letter of Intent and any binding agreement, the construction of the G+AI Battery manufacturing plant will be completed as anticipated, the Company will secure a partnership with BOSCH as anticipated, the Company the Company will be able to commence construction and commissioning of the G+AI Battery pilot plant equipment on the anticipated timelines, the Company will be successful in collaborating with universities in Australia to develop its products, the Company will be able to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels, and that the Company will be able to develop a commercial prototype coin cell battery before the end of 2021.
Forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the Company will not be successful in negotiating binding agreements with BOSCH, the Company will not be successful in obtaining all necessary approvals under the Letter of Intent and any binding agreement, the construction of the G+AI Battery manufacturing plant will not be completed as anticipated, the Company will not be able to secure a partnership with BOSCH as anticipated, the Company will not be able to commence construction and commissioning of the G+AI Battery pilot plant equipment on the anticipated timelines, the Company will not be successful in collaborating with universities in Australia to develop its products, the Company will not be able to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels, and that the Company will not be able to develop a commercial prototype coin cell battery before the end of 2021. Such forward-looking information represents management's best judgment based on information currently available. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100684
SKYG.v $SRKZF neighbour in Newfoundland NFG.v out with a rather nice raise...
New Found Announces $48 Million Investment by Eric Sprott
by @newswire on 21 Oct 2021, 06:00
/THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF NEW FOUND GOLD CORP.'S SECURITIES IN THE UNITED STATES/
VANCOUVER, BC, Oct. 21, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (NYSE American: NFGC) is pleased to announce that it has arranged a non-brokered private placement with Mr. Eric Sprott of 5 million common shares of New Found (the "Common Shares"), at a price of C$9.60 per Common Share, for gross proceeds of C$48 million (the "Offering").
New Found Gold Corp. Logo (CNW Group/New Found Gold Corp.)
New Found intends to use the proceeds of the Offering to fund exploration of New Found's 100% owned Queensway Project and for working capital and general corporate purposes. The Offering is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange (the "TSXV") and approval by the shareholders of the Company if required by the TSXV.
Collin Kettell, Founder & Executive Chairman of New Found Gold stated: "Mr. Eric Sprott has been a major supporter of New Found Gold since prior to the Company's IPO. New Found Gold finds itself in an enviable position, well-funded with approximately $150 million in working capital post raise, as the Company continues to explore for high-grade gold at its Queensway Project. With a district size land package and our success to date, we believe there is great potential for this success to continue to build as we advance our program. On behalf of management and the Board of Directors, I would like to thank Eric for his continued support."
Mr. Sprott currently beneficially owns 31,601,200 common shares of New Found. Upon closing of the Offering, Mr. Sprott will beneficially own 36,601,200 common shares of New Found.
In the event the TSXV requires shareholder approval of the Offering, the Company will call a special meeting of its shareholders. The Offering is expected to close shortly after all necessary approvals are obtained.
Any securities issued pursuant to the Offering will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from the date of closing of the Offering. A 1% finders' fee is payable in connection with the Offering.
The securities to be issued under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of New Found's securities in the United States.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. With a current working capital balance of approximately $103 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: contact@newfoundgold.ca
Phone: + 1 (910) 406 2407
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 the Offering, TSXV approval of the Offering, the requirement for and timing of shareholder approval of the Offering, the closing of the Offering, and the timing related thereto, drilling on the Queensway gold project 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 TSXV, 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 the Company's ability to satisfy the conditions to close the Offering, including the Company's ability to obtain all necessary shareholder and stock exchange approvals, 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.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/new-found-announces-48-million-investment-by-eric-sprott-301405422.html
SOURCE New Found Gold Corp.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/21/c0025.html
SUN.ca Wildflower Update
CTO Update
We wanted to provide a brief update on Wildflower's 2020 audit. The audit has been completed.
We advised the British Columbia Securities Commission and they requested the statements and the audit opinion letters be submitted to them for review prior to their filing.
We believe the rationale is to ensure they meet the criteria they established to ensure the exemptive relief application can move forward. The statements were submitted about 2 weeks ago. We have had no response thus far and have requested a time frame for their review but have not heard back.
We will continue to update you as we learn more.
CONTACT INFORMATION:
Krystian Wetulani, Director & CDO
ir@wildflowerbrands.co
1-604-559-0420
SUN.ca Wildflower Update
CTO Update
We wanted to provide a brief update on Wildflower's 2020 audit. The audit has been completed.
We advised the British Columbia Securities Commission and they requested the statements and the audit opinion letters be submitted to them for review prior to their filing.
We believe the rationale is to ensure they meet the criteria they established to ensure the exemptive relief application can move forward. The statements were submitted about 2 weeks ago. We have had no response thus far and have requested a time frame for their review but have not heard back.
We will continue to update you as we learn more.
CONTACT INFORMATION:
Krystian Wetulani, Director & CDO
ir@wildflowerbrands.co
1-604-559-0420
Baru Gold Announces $1.6 Million Financing BARU.v $BARUF
by @thenewswire on 18 Oct 2021, 06:30
(TheNewswire)
Baru Gold Corp.
October 18, 2021 – TheNewswire - Baru Gold Corp (“BARU” or the “Company”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce a $1.6 million private placement (the "Private Placement"). The Private Placement will consist of 16,000,000 units priced at $0.10 per unit (the “Unit”). 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 financing is expected to close on or before October 31, 2021.
Mr. Terry Filbert, CEO of Baru, adds, “The Company currently has sufficient funds to construct and start production that was announced in the news release of September 12, 2021. Construction will consist of clearing land, building two 100,000 tonnes heap leach pads, pit overburden removal, preparation of waste dumps, a crushing facility, and a processing plant area including access roads.
With the start of construction and first pour anticipated in Q1 of 2022, the funds raised from this private placement will be used to further the exploration program announced in the news release of September 14, 2021, provide support for the start-up of production, and our team’s ability to execute both activities concurrently, and general working capital. We are encouraged by the support of our long-term shareholders who have expressed interest in a sizable allocation of this financing and encourage interested investors to contact Baru or your financial advisor for an allocation request.”
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.
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.
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.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1-647-725-3888 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 Announces $1.6 Million Financing
by @thenewswire on 18 Oct 2021, 06:30
(TheNewswire)
Baru Gold Corp.
October 18, 2021 – TheNewswire - Baru Gold Corp (“BARU” or the “Company”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce a $1.6 million private placement (the "Private Placement"). The Private Placement will consist of 16,000,000 units priced at $0.10 per unit (the “Unit”). 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 financing is expected to close on or before October 31, 2021.
Mr. Terry Filbert, CEO of Baru, adds, “The Company currently has sufficient funds to construct and start production that was announced in the news release of September 12, 2021. Construction will consist of clearing land, building two 100,000 tonnes heap leach pads, pit overburden removal, preparation of waste dumps, a crushing facility, and a processing plant area including access roads.
With the start of construction and first pour anticipated in Q1 of 2022, the funds raised from this private placement will be used to further the exploration program announced in the news release of September 14, 2021, provide support for the start-up of production, and our team’s ability to execute both activities concurrently, and general working capital. We are encouraged by the support of our long-term shareholders who have expressed interest in a sizable allocation of this financing and encourage interested investors to contact Baru or your financial advisor for an allocation request.”
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.
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.
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.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1-647-725-3888 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.
WHN.v $WTHVF Westhaven Drills 85.45 Metres of 1.09 g/t Gold and 2.43 g/t Silver, Including 3.14 Metres of 10.80 g/t Gold and 24.80 g/t Silver at Shovelnose
by @nasdaq on 18 Oct 2021, 05:00
VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing, fully-financed drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
Westhaven is reporting assays for 10 holes from its ongoing drill campaign at Shovelnose. Westhaven has completed 34,991 metres of diamond drilling to date in 2021. An additional 18 holes are pending assays.
Recent Drilling Highlights:
SNR21-35 (South Zone: 42.00-127.45m)
85.45 metres (m) of 1.09 g/t gold (Au) and 2.43 g/t silver (Ag),
including 10.00m of 3.42 g/t Au and 3.97 g/t Ag,
including 2.00m of 13.55 g/t Au and 3.98 g/t Ag,
and 3.14m of 10.80 g/t Au and 24.80 g/t Ag.
SNR21-37 (South Zone: 73.00-90.00m)
17.00m of 1.21 g/t Au and 2.50 g/t Ag,
including 2.00m of 6.77 g/t Au and 7.57 g/t Ag.
SNR21-34 (South Zone: 103.08-149.00m)
45.92m of 0.58 g/t Au and 1.84 g/t Ag,
including 15.00m of 1.26 g/t Au and 2.91 g/t Ag.
Please click the following link to the 2021 drill database table of assay results:
https://www.westhavengold.com/projects/shovelnose-gold/maps/
Gareth Thomas, President & CEO of Westhaven Gold, states: “These drill results at the South Zone once again confirm that we are dealing with a robust gold-silver system that continues to expand with drilling. The South Zone resource drilling is complete and drilling is now focused on recently identified exploration targets.” Peter Fischl, Exploration Manager, comments: “Recent drilling continues to intersect mineralization between vein zones at the South Zone. Hole SNR21-35 intersected a shallow intercept of significant gold in a sparsely veined interval of rhyolite tuff situated between Vein Zones 1 and 2. The presence of such mineralization adds to the potential for a near-surface bulk-tonnage resource at South Zone. Renewed drilling along strike to the northwest at the FMN target is testing for similar near-surface vein-hosted mineralization.”
Drilling Update:
Two drills are currently conducting exploration drilling at the FMN Zone and CSAMT (Controlled-source Audio-frequency Magnetotellurics) targets. The FMN Zone is initially being drilled along a series of sections spaced 50 m apart over a strike length of 250m as a follow-up to holes SN20-158, SN21-161 (15.97m of 9.15 g/t Au and 27.43 g/t Ag) and SN21-167. Drilling will be expanded eastward towards holes SN20-139 (5.50m of 4.58 g/t Au and 267.35 g/t Ag) and SN20-145 to test for the continuity of mineralization over strike-lengths similar to that seen at South Zone.
Geophysical Survey Drill Targets (CSAMT/Magnetic)
Two targets along CSAMT Line 4000 are being drill tested west of South Zone. Both targets feature prominent resistivity highs that may be associated with zones of quartz veining similar to that seen at South Zone. Subsequently, two prominent northwest trending magnetic lows situated on trend to the southeast of South Zone, immediately southeast of the Shylock targets, are currently being evaluated as potential drill targets. Please see maps below.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas"
Gareth Thomas, President, CEO & Director
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.
Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration.
Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
Maps accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4688c8e5-17d8-4403-98f8-0edd2842af51
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b736955-aa32-4afe-8a8c-ee5a21d3bef7
https://www.globenewswire.com/NewsRoom/AttachmentNg/7d717877-2f21-407a-8a4c-e00c6d728b88
https://www.globenewswire.com/NewsRoom/AttachmentNg/647afc16-052e-447f-8e91-f29a33f58e10
Primary Logo
Image 1
PLAN MAP
Image 2
CROSS-SECTION
Image 3
CSAMT TARGETS
Image 4
MAGNETIC LOW DRILL TARGETS
SKYG.v $SRKZF neighbour in Newfoundland out with another massive Keats hole...
by @newswire on 14 Oct 2021, 03:00
New Found Intercepts 61.50 g/t Au over 5.20m at Keats 65m Step-Out, Extends High-Grade Zone to 530m Down Plunge
VANCOUVER, BC, Oct. 14, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce recently received assay results from eleven holes drilled at the Keats Zone ("Keats"), located along the Appleton Fault Zone. These holes were completed as part of the Company's ongoing 200,000m diamond drill program at its 100% owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.
Highlights
Highlight intervals are summarized below. Additional results are provided in Table 2.
Highlights (CNW Group/New Found Gold Corp.)
* Note that the true width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 85% to 95% of reported intercepts. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m; grades have not been capped in the averaging.
The Keats Main Zone now extends 530m down-plunge, an increase of 65m from the previously reported distance of 465m defined by the furthest intercept to date in NFGC-21-360 grading 61.50 g/t Au over 5.20m.
Intercepts of 17.59 g/t Au over 6.50m in NFGC-21-312 as well as 63.92 g/t Au over 3.25m and 9.10 g/t Au over 6.25m in NFGC-21-351 continue to demonstrate the high-grade up-dip continuity with robust widths above the core dilatational zone towards surface.
Starting at surface the multiple high-grade zones at Keats now cover an overall footprint of approximately 250m in width x 490m along strike x 307m vertical depth and are open in all directions.
Greg Matheson, COO of New Found, stated: " The high-grade continuity over a distance of 530m in a down-plunge direction is impressive but what's truly encouraging is seeing this continuity continue above the core dilatational zone up-dip towards surface adding significant volume to the high-grade mineralization. In addition, the recently announced results from NFGC-21-238 yielding 88.53 g/t Au over 3.35m in the Keats Footwall has presented multiple exploration fronts as we continue to see the footprint of Keats expand in all directions. All of our drills at Keats and along the Appleton Fault are currently focused on expansion of these high-grade gold systems."
Figure 1. Keats Plan View (CNW Group/New Found Gold Corp.)
Figure 2. Keats Long Section (Drill hole NFGC-21-238 Plotted off section in Footwall Zone) (CNW Group/New Found Gold Corp.)
Figure 3. 3D Keats Composite Cross-Section (A to A’ looking northeast, 175m clipping) (CNW Group/New Found Gold Corp.)
Discussion
The Keats Main Zone is hosted within a faulted domain, the Keats-Baseline Fault, that contains a network of quartz veins that strike to the east-northeast and dip moderately to the southeast at approximately 55° as shown in Figure 3. The massive high-grade gold bearing quartz veins within this structural corridor are dominantly parallel to the orientation of the Keats host structure and drill hole structural data suggests some areas contain high-grade stockwork and spur type veins with a variety of orientations.
Continued step-out drilling will work to expand mineralization south and up-dip of the core dilatational zone within the Keats Main Zone.
Drill Hole Details
Table 2. Summary of results reported in this release (CNW Group/New Found Gold Corp.)
* Note that the true width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 85% to 95% of reported intercepts. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m, grades have not been capped in the averaging.
Table 3. Details of drill holes reported in this release (CNW Group/New Found Gold Corp.)
Figure 5. Photos of mineralization from NFGC-21-312, approximately 156m down hole depth Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-312. (CNW Group/New Found Gold Corp.)
Queensway 200,000m Drill Program Update
Approximately 51 percent of the 200,000 meters have been drilled to date with approximately 24,000 meters of core pending assay results. Nine core rigs are currently operating, with a tenth scheduled to commence shortly.
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 85% to 95% of reported core lengths. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cut-off of 1.0 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated October 14, 2021, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. With a current working capital balance of approximately $105 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Phone: + 1 (910) 406 2407
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.
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New Found Gold Corp. Logo (CNW Group/New Found Gold Corp.)
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SOURCE New Found Gold Corp.
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SKYG.v $SRKZF neighbour in Newfoundland out with another massive hole...
New Found Discovers New High-Grade Zone at Keats; Intercepts 88.53 g/t Au over 3.35m Below Keats Main Zone
by @newswire on 13 Oct 2021, 09:31
VANCOUVER, BC, Oct. 13, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (NYSE American: NFGC) is pleased to announce recently received assay results from hole NFGC-21-238 drilled at the Keats Zone ("Keats"), located along the Appleton Fault Zone. This hole was completed as part of the Company's ongoing 200,000m diamond drill program at its 100% owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.
Highlights
The NFGC-21-238 discovery interval is summarized below and in Table 2.
Hole No.
From (m)
To (m)
Interval (m)*
Au (g/t)
Zone
NFGC-21-238
384.35
387.7
3.35
88.53
Keats FW
* Note that the true width of the mineralization is uncertain. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m; grades have not been capped in the averaging.
This new discovery interval of 88.53 g/t Au over 3.35m in NFGC-21-238 is located at an estimated vertical depth of 307m in the footwall of the Keats Baseline Fault and approximately 65m below the Keats Main Zone (see Figure 1). The high-grade intercept consists of fractures filled with sulphides and a massive quartz vein, both containing particles of free gold (see Figure 2).
The Footwall Zone encompasses the wedge of rock located between the Keats Main Zone and the Appleton Fault Zone. This area remains under explored as drilling has focused on delineating the massive high-grade gold bearing quartz veins that are contained within and trend parallel to the Keats Baseline Fault.
Several high-grade intercepts located within the Footwall Zone have been identified and previously reported; with continued drilling it has become evident that this area is structurally complex and hosts a number of secondary high-grade gold-bearing fault zones, the extents of which are open and demand the attention of follow-up drilling. Exploration drilling is now proceeding to test the extent and orientation of such high-grade gold domains within the Footwall Zone.
Dr. Quinton Hennigh Director of New Found, stated: "The progression of drilling at Keats including the recognition of the potential for multiple zones of high-grade gold mineralization in veining and associated structures at different orientations very closely parallels the discovery progression I observed in the high-grade discoveries at the Fosterville Mine. The initial drilling focused on the Lower Phoenix and Eagle zones leading to their discovery. As drilling progressed, multiple subsequent high-grade gold discoveries were made including the Swan Zone. I believe there is good potential for the discovery of multiple zones of high-grade gold mineralization at Keats and that we are starting to see evidence that we are moving in this direction.
Additionally, the newly discovered high-grade gold and sulphide mineralization in hole NFGC-21-238 is possibly analogous to another feature I observed at Fosterville. In the discovery drilling at the Lower Phoenix and Eagle zones at Fosterville, the grades of sulphide mineralization rapidly increased in proximity to the top of high-grade, quartz-gold lode mineralization. Based on this analogy New Found will drill test below the newly discovered high-grade sulphide mineralization encountered at Keats in hole NFGC-21-238 exploring for similar quartz-gold lode mineralization below this sulphide associated gold mineralization.
I believe that the progression and modelling at Fosterville is a valuable analogy to pursue at Keats and my excitement for the discovery potential at Keats continues to build as these new results come in."
Figure 1. 3D Keats Composite Cross-Section (A to A’ looking northeast, 150m clipping) (CNW Group/New Found Gold Corp.)
Figure 2. Photo of mineralization from NFGC-21-238, approximately 386m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21--238. (CNW Group/New Found Gold Corp.)
Drill-hole Details
Hole No.
From (m)
To (m)
Interval
(m)*
Au (g/t)
Zone
NFGC-21-238
384.35
387.7
3.35
88.53
Keats FW
Table 2: Summary of results reported in this release
* Note that the true width of the mineralization is uncertain. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m, grades have not been capped in the averaging.
Hole No.
Azimuth
(°)
Dip (°)
Length
(m)
UTM E
UTM N
NFGC-21-238
297
-55.5
413
658120
5427133
Table 3: Details of drill holes reported in this release
Queensway 200,000m Drill Program Update
Approximately 51 percent of the 200,000 meters have been drilled to date with approximately 24,000 meters of core pending assay results. Nine core rigs are currently operating, with a tenth scheduled to commence shortly.
Sampling, Sub-sampling and Laboratory
True width of the intercept reported in this press release is uncertain. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cut-off of 1.0 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated October 13, 2021, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. With a current working capital balance of approximately $105 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Phone: + 1 (910) 406 2407
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.
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SKYG.v $SRKZF Quebec neighbour AMX.v $AMXEF out with more outstanding hits at their Perron project ...
Amex Drills High Grade Gold from HGZ Zone of Perron Including up to 43.74 g/t Gold over 6.90 Metres in Shallow Hole and 28.64 g/t Gold over 5.00 Metres at Depth
by @newsfile on 13 Oct 2021, 00:00
Highlights from the Shallow (Western) High Grade Zone include:
43.74 g/t Au over 6.90 m, including 531.99 g/t Au over 0.50 m, for a metal factor of 302 at a vertical depth of 350 m in hole PE-21-409;
76.61 g/t Au over 3.50 m, including 530.97 g/t Au over 0.50 m, for a metal factor of 268 at a vertical depth of 480 m in hole PE-21-383W1;
36.02 g/t Au over 6.55 m, including 218.15 g/t Au over 1.05 m, for a metal factor of 236 at a vertical depth of 250 m in hole PE-21-392;
102.43 g/t Au over 1.80 m, including 357.30 g/t Au over 0.50 m, for a metal factor of 184 at a vertical depth of 300 m in hole PE-21-413;
9.46 g/t Au over 6.25 m for a metal factor of 59 at a vertical depth of 160 m in hole PE-21-378;
7.87 g/t Au over 6.40 m, including 74.47 g/t Au over 1.00 m, for a metal factor of 50 at a vertical depth of 330 m in hole PE-21-399;
4.65 g/t Au over 10.65 m for a metal factor of 50 at a vertical depth of 650 m in hole PE-21-410.
Highlights from the Deep (Eastern) High Grade Zone include:
28.64 g/t Au over 5.00 m for a metal factor of 143 at a vertical depth of 850 m in hole PE-21-386;
15.63 g/t Au over 6.40 m, including 86.16 g/t Au over 1.00 m, for a metal factor of 100 at a vertical depth of 965 m in hole PE-21-404;
14.78 g/t Au over 8.30 m, including 113.56 g/t Au over 1.05 m, for a metal factor of 123 at a vertical depth of 690 m in hole PE-21-403W1;
14.85 g/t Au over 5.00 m for a metal factor of 74 at a vertical depth of 330 m in hole PE-21-412; and
7.18 g/t Au over 7.70 m for a metal factor of 55 at a vertical depth of 1,000 m in hole PE-21-347W1.
Montreal, Quebec--(Newsfile Corp. - October 13, 2021) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 26 drill holes focused on expansion and definition drilling of the High Grade Zone on 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 on-strike expansion as well as definition drilling of the High Grade Zone as the Company works towards its maiden resource on the Perron Project. A complete list of results is available in Tables 1 & 2 and presented in Figures 2, 3, & 4. Photos of visible gold in select drillholes are presented in Figure 5. In addition to the results detailed below, Amex is awaiting results on over 14,200 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, "I am very excited with today's results for several reasons. Firstly, the highest metal factor hole in this release, PE-21-409 returning 43.74 g/t Au over 6.90 m, comes from an area of the shallower HGZ that had previously thought to be lower grade as shown in Figure 3. Three additional intercepts, PE-21-418, PE-21-399 and PE-383W1, also confirm the high grade potential in this "lower grade" area that should add significant ounces to the eventual resource estimate. Secondly, our drilling at depth continues to reaffirm our interpretation of strong continuity and a larger "envelope" of greater than 50 metal factor mineralization. Amex has a number of drillholes pending from the High Grade Zone as well as across the project and we look forward to receiving the outstanding results."
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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone
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Figure 2: Longitudinal section of the High Grade Zone, with today's released hole locations in green.
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Figure 3: Closeup longitudinal section of the Upper (western) High Grade Zone
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Figure 4: Closeup longitudinal section of the Deeper (Eastern) High Grade Zone
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Figure 5: Photos of visible gold from a number of today's released drill holes
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Table 1: Assay results from the Western (Shallower) High Grade Zone at Perron
Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Metal Factor (g/t*m) Zone
PE-21-409 374.90 381.80 6.90 43.74 350.00 302 Western (Shallower) HGZ
Including 380.00 380.80 0.80 29.78
Including 380.80 381.30 0.50 531.99
PE-21-383W1 538.50 542.00 3.50 76.61 480.00 268
Including 540.00 540.50 0.50 530.97
PE-21-392 297.50 304.05 6.55 36.02 250.00 236
Including 302.50 303.55 1.05 218.15
PE-21-413 338.20 340.00 1.80 102.43 300.00 184
Including 338.70 339.20 0.50 357.30
PE-21-378 214.75 221.00 6.25 9.46 160.00 59
Including 219.40 220.45 1.05 44.49
PE-21-399 351.90 358.30 6.40 7.87 330.00 50
Including 357.80 358.30 1.00 74.47
PE-21-410 720.00 730.65 10.65 4.65 650.00 50
Including 722.85 723.75 0.90 24.22
PE-21-421 466.00 474.90 8.90 4.52 440.00 40
Including 474.40 474.90 0.50 74.96
PE-21-418 343.75 351.00 7.25 3.94 320.00 29
Including 348.95 349.75 0.80 30.23
PE-21-390 198.20 205.00 6.80 2.33 160.00 16
Including 202.90 203.50 0.60 23.32
PE-21-385 212.00 220.25 8.25 2.80 170.00 23
Including 219.75 220.25 0.50 25.52
PE-21-383 551.80 561.00 9.20 0.72 490.00 6
PE-21-420 667.50 669.55 2.05 8.88 590.00 18
Including 667.50 668.20 0.70 23.97
*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~70-80% in HGZ. Metal factor is defined as gold grade multiplied by core length.
Table 2: Assay results from the Eastern (Deeper) High Grade Zone at Perron
Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Metal Factor (g/t*m) Zone
PE-21-386 929.50 934.50 5.00 28.64 850.00 143 Eastern (Deep) HGZ
Including 932.75 934.50 1.75 79.06
PE-21-404 1062.00 1068.40 6.40 15.63 965.00 100
Including 1062.90 1063.90 1.00 86.16
PE-21-403W1 783.50 791.80 8.30 14.78 690.00 123
Including 786.90 787.95 1.05 113.56
PE-21-412 415.00 420.00 5.00 14.85 330.00 74
Including 418.75 419.50 0.75 89.62
PE-21-347W1 1080.30 1088.00 7.70 7.18 1000.00 55
Including 1080.30 1081.00 0.70 54.78
PE-21-347W2 1095.60 1104.50 8.90 5.50 1040.00 49
Including 1095.60 1098.10 2.50 18.14
PE-21-423 424.30 428.40 4.10 9.44 340.00 39
PE-21-403 790.20 793.30 3.10 5.41 700.00 17
Including 792.80 793.30 0.50 31.43
PE-21-393 483.40 484.05 0.65 29.89 410.00 19
PE-21-389 485.50 487.00 1.50 7.55 410.00 11
PE-21-400 460.00 464.10 4.10 1.37 380.00 6
PE-21-408 419.35 420.40 1.05 0.70 340.00 1
PE-21-419 415.00 419.95 4.95 2.06 330.00 10
*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~70-80% in HGZ. Metal factor is defined as gold grade multiplied by core length.
Qualified Person
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.
About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +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 Starts Exploration on Jackpot Lithium Project and Provides Corporate Update
by @accesswire on 12 Oct 2021, 04:01
VANCOUVER, BC / ACCESSWIRE / October 12, 2021 / Infinite Ore Corp. (the "Company") (TSX.V:ILI) (OTCQB:ARXRF) is pleased to provide an update on its exploration and corporate activities. The Company recently mobilized a ground crew to sample target areas on its Jackpot lithium project. The areas of interest were generated from a recent high resolution geophysical survey completed on the Jackpot property. The survey, conducted by Novatem Airborne Geophysics, identified several east-west trending anomalies that reflect structures like that of the Jackpot lithium deposit itself.
The ground crew sampled spodumene bearing pegmatites more than 300 m north-east of the 2018 drilling area. The pegmatites were observed over a strike length of approximately 900 m and appear to continue under cover to the north-east and under a small lake to the south-west. Infinite Ore is designing a drill program to test extensions of the Jackpot lithium deposit.
J.C. St-Amour, President of Infinite Ore commented, "I am very pleased that we have identified pegmatite dykes outside the known Jackpot historical deposit area. These dykes appear to have extensive strike length and represent excellent targets for follow up exploration."
St- Amour continued, "Our ground crew also investigated and sampled other areas on the property where additional pegmatite dykes were identified and need further investigation. Pegmatite dykes tend to occur in swarms and given the area has a thick overburden there is excellent potential to discover numerous other mineralized pegmatites, leading to additional drill targets. Our goal is to get aggressive on exploring the Jackpot project and to identify the lithium potential on this highly prospective package."
The Company's 100% owned Jackpot project is near the Georgia Lake lithium deposit, for which Rock Tech Lithium Inc. recently announced its intent to develop a lithium sulphate production facility located in Thunder Bay, Ontario. The Jackpot property contains known pegmatite showings, including two that contain historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*.
Figure 1: Geophysical map of the Jackpot project.
Sale of Eastern Vision
On the corporate front, the Company is pleased to report that the sale of the Eastern Vision project to Trillium Gold Mines Inc. is progressing. The parties are working towards getting all necessary approvals for the sale with an anticipated closing in November 2021. Upon closing, the Company will receive 4,000,000 common shares of Trillium and a cash payment of $175,000.
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 is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Ore Corp.
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SKYG.v $SRKZF Quebec neighbour StarrPeak STE.v $STRPF increases fully funded drill program to 80,000M...nice
by @newswire on 7 Oct 2021, 06:01
Starr Peak Increases Ongoing Drill Program and Reports Deepest Results to Date: 10.45% Zinc-Equivalent Over 4.75 Metres with Copper-Enrichment; New Geophysical Interpretation Significantly Extends the Deep Zone at Newmétal
VANCOUVER, BC, Oct. 7, 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). A new geophysical interpretation of BHEM surveys of deep drill holes suggests an upward extension to the Deep Zone. This new plate (P4.: 90m x 350m x 1000 siemens) provides an estimate of the average property of the conductor. It does not account for any heterogeneities such has greater thicknesses or conductivities. Starr Peak is also pleased to announce an expansion of its drill program to 80,000 metres which is fully funded.
Highlights
Upper Zone (above 400m vertically)
STE-21-52: 3.35 m of 8.09 % ZnEq,
STE-21-55: 10.30 m of 2.59 % ZnEq
Deep Zone (below 400m vertically)
STE-21-50-W1: 7.85 m of 10.42 % ZnEq,
STE-21-59: 4.75 m of 10.45 % ZnEq
Johnathan More, Chairman and CEO of Starr Peak commented, "The Deep Zone continues to deliver significant grades and is open for extension as we can see in the geophysical responses. We are excited to be releasing some of our highest-grade copper mineralization to date, as such, we continue to gain an understanding of the Normetmar mineralized system and we appear to be seeing an increase of copper mineralization at depth. This often occurs in polymetallic VMS deposits, with metal zonation from zinc-dominant to copper-dominant at depth. We look forward to increasing our understanding of this highly continuous zone of rich mineralization with our expanded and fully funded 80,000 metre drill program."
STE-21-59, the deepest 2021 drill hole to date, highlights the potential outside the geophysical plates, following the mineralized trend. Drilling will shift to testing the Deep Zone defined by the new interpreted BHEM plate. As well, systematic delineation drilling of the Upper Zone continues to expand the limits of the zone. 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.
Table 1 – Deep zone
Table 1 – Deep zone: Intervals are reported as core widths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below (CNW Group/Starr Peak Mining Ltd.)
Table 1 – Deep zone: Intervals are reported as core widths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below (CNW Group/Starr Peak Mining Ltd.)
Intervals are reported as core widths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below
Table 2 – Upper zone
Table 2 – Upper zone: Intervals are reported as core widths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below (CNW Group/Starr Peak Mining Ltd.)
Table 2 – Upper zone: Intervals are reported as core widths measured downhole. True width of mineralization is currently unknown.
*Note: Zn_Eq% formula is defined below (CNW Group/Starr Peak Mining Ltd.)
Intervals are reported as core widths 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 and systematic delineation drilling of the Normetmar Upper Zone above 400m vertical depth is coming to an end. An exploration plan of the prolific Normetmar-Normétal lithological contact within the property is currently underway, taking into account the many new massive sulphide intercepts in 2021.
Figure 1: Longitudinal Section of the Normétal Past-Producing Mine and Normetmar Satellite Deposit. Drilling targets represented by a red star. Historical Drill Intercepts area provided in Zinc-Equivalent calculated using the formula in references. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn – Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under 75%), Tr – Traces, EOH – End of Hole.
Figure 1: Longitudinal Section of the Normétal Past-Producing Mine and Normetmar Satellite Deposit. Drilling targets represented by a red star. Historical Drill Intercepts area provided in Zinc-Equivalent calculated using the formula in references. Abbreviation: Sp – Sphalerite, Cp – Chalcopyrite, Gn – Galena, MS – Massive sulfides, SMS – Semi-massive sulfides (under 75%), Tr – Traces, EOH – End of Hole. (CNW Group/Starr Peak Mining Ltd.)
Qualified Person
Alexis Paulin Bissonnette, Ing. (OIQ 5037621), an independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Alexis Paulin Bissonnette. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of one blank, one standard and one duplicate every 25 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. Additionally, sample weight is taken prior shipment to validate sample identity. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Zinc values over 30% are estimated by potentiometric titration, ZN-VOL50. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
References and disclosures
Normétal historical Mine and Normetmar:
Summary Report, Normetmar Project, January 1988 by L. Boivin
*Metal Factor zinc equivalent formula: Zn_eq (%)* Core length
Zn_eq (%) = Zn(%) + [Cu(%) * Cu price (lb) / Zn price (lb)] + [Ag(%) * Ag price (oz) * 14,632 / Zn price (lb) ] + [Au(%) * Au price (oz) * 14.632 / Zn price (lb)]
Zn_eq % based on US$: 1.2$/lb Zn, $3.5/lb Cu, $25/oz Ag, $1800/oz Au.
The historical information on the Longitudinal have not been validated otherwise than with the information inside historical reports and cross sections. Exact location of historical drill hole pierce points on the longitudinal may be different.
The Company wishes to caution that historical resources described above are historical. The historic resources are relevant to give a ballpark estimate of the potential on the property. Historical resources should not be relied upon. The key assumptions, parameters and methods used to prepare the historical estimate is not known and thus the difference between the historic estimates and NI 43-101 compliant estimates is also not known. The historical estimates used categories other than the ones set up in sections 1.2 and 1.3 of National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not reviewed the historical estimates and has not done sufficient work to classify the historical estimates as current mineral resources and Starr Peak is not treating the historical estimates as current mineral resources under National Instrument 43-101 and CIM Standards for mineral resources and reserves. Further exploration work needs to be done to correctly evaluate these historical resources. Additionally, the methodology of calculation is unknown by the qualified person.
Grab samples are selective by nature and the values reported may not be representative of the mineralized zone.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
On Behalf of the Board of Directors of Starr Peak Mining Ltd.,
"Johnathan More"
Johnathan More
Chairman and Chief Executive Officer
About Starr Peak Mining Ltd.
Starr Peak Mining Ltd. is a Canadian based mineral exploration company focused on the acquisition and exploration of precious and base metal mineral deposits. The primary objective of the Company is to acquire, explore and develop high potential and quality gold and base metal deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Information:
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Starr Peak assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
Starr Peak Mining Ltd. Logo (CNW Group/Starr Peak Mining Ltd.)
SOURCE Starr Peak Mining Ltd.
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BARU.v $BARUF Baru Gold Commences Sangihe Gold Mine Construction
by @thenewswire on 5 Oct 2021, 10:45
(TheNewswire)
October 5, 2021 – TheNewswire - Vancouver, BC - Baru Gold Corp (TSXV:BARU) | (OTC:BARUF) (“Baru ” or the “Company”) is pleased to announce it has commenced construction of phase one of the Sangihe gold project.
Construction will consist of clearing land, building two 100,000 tonnes heap leach pads, pit overburden removal, preparation of waste dumps, a crushing facility, and a processing plant area including access roads.
Baru COO Garry Kielenstyn and the Indonesian team are currently on site to supervise the engineering and contractor management, oversee site activities and keep costs in line and within budget. Construction of the heap leach pad system is targeted to be completed and operational by December 2021, with first production gold pour in Q1 2022.
The Company, along with its contractors, are currently preparing the principal production area, grubbing, and establishing pit limits to the plan. The focus will be on digging out the pregnant solution pond, constructing pond berms, and compacting to engineering specifications in preparation for installation of the leach pad liner and the processing facility.
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Heap leaching is an industrial mineral processing method used to extract precious metals and other compounds from ore using a series of chemical reactions that absorb specific minerals and re-separate them after their division from other earth materials. Heap leaching is the most economical and environmentally efficient method of processing lower grade mined ore. Heap leaching achieves these processing efficiencies by placing finely crushed ore on a liner, then adding reagents via drip systems to the ore. As compared to conventional processing methods such as flotation, agitation, or vat leaching, heap leaching is widely used in modern large-scale mining operations to produce the desired concentrates at a lower cost for lower grade ores.
Terry Filbert, President, CEO and Director of Baru, commented, “The successful start of construction of the pit, pads, and pond facilities is a tremendous milestone for our Sangihe project. Once operations are running smoothly and Sangihe starts generating reliable cashflow we will invest that cashflow to expand the resource through an extended exploration and drilling program. This will allow us to expand production and the mine’s life. We will provide further updates on the heap leach operations in the weeks to come.”
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.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance, or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance, or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Commences Sangihe Gold Mine Construction
by @thenewswire on 5 Oct 2021, 10:45
(TheNewswire)
October 5, 2021 – TheNewswire - Vancouver, BC - Baru Gold Corp (TSXV:BARU) | (OTC:BARUF) (“Baru ” or the “Company”) is pleased to announce it has commenced construction of phase one of the Sangihe gold project.
Construction will consist of clearing land, building two 100,000 tonnes heap leach pads, pit overburden removal, preparation of waste dumps, a crushing facility, and a processing plant area including access roads.
Baru COO Garry Kielenstyn and the Indonesian team are currently on site to supervise the engineering and contractor management, oversee site activities and keep costs in line and within budget. Construction of the heap leach pad system is targeted to be completed and operational by December 2021, with first production gold pour in Q1 2022.
The Company, along with its contractors, are currently preparing the principal production area, grubbing, and establishing pit limits to the plan. The focus will be on digging out the pregnant solution pond, constructing pond berms, and compacting to engineering specifications in preparation for installation of the leach pad liner and the processing facility.
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Heap leaching is an industrial mineral processing method used to extract precious metals and other compounds from ore using a series of chemical reactions that absorb specific minerals and re-separate them after their division from other earth materials. Heap leaching is the most economical and environmentally efficient method of processing lower grade mined ore. Heap leaching achieves these processing efficiencies by placing finely crushed ore on a liner, then adding reagents via drip systems to the ore. As compared to conventional processing methods such as flotation, agitation, or vat leaching, heap leaching is widely used in modern large-scale mining operations to produce the desired concentrates at a lower cost for lower grade ores.
Terry Filbert, President, CEO and Director of Baru, commented, “The successful start of construction of the pit, pads, and pond facilities is a tremendous milestone for our Sangihe project. Once operations are running smoothly and Sangihe starts generating reliable cashflow we will invest that cashflow to expand the resource through an extended exploration and drilling program. This will allow us to expand production and the mine’s life. We will provide further updates on the heap leach operations in the weeks to come.”
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.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance, or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance, or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
VXL.v $VXLLF Nice follow thru ...day 2 of the move +40% ...congrats holders...hsb
VXL.v $VXLLF Vaxil Announces Progress on Research and Development Activities
by @nasdaq on 29 Sep 2021, 04:50
Not for distribution by US newswire or in United States
NESS-ZIONA, Israel, Sept. 29, 2021 (GLOBE NEWSWIRE) -- VAXIL BIO LTD. (“Vaxil” or the “Company”) (TSX VENTURE: VXL), an innovative immunotherapy biotech company specializing in cancer and infectious diseases, announces here on the progress of its various research and development activities including; development of oral formulation for signal peptides ("SPs"), research on the utilization of P-Esbp polymer as a novel anti-cancer drug, and the issuance of U.S. patent No. 11135277 on 5 October, 2021, titled: “Antigen specific multi epitope-based anti-infective vaccines”.
Vaxil is continuing with its mission to bring novel medicines to the public, which includes the utilization of SPs as anti-cancer and anti-microbial vaccines. In order to improve treatment procedures of SP-based vaccines, Vaxil has engaged in efforts to develop a SP-based oral formulation. Vaxil believes that oral delivery of SPs can benefit patients by simplifying administration procedures without compromising the therapeutic efficacy, and it may also simplify manufacturing processes, transportation, and storage conditions.
SP-based oral formulation is being developed independently, as well as in partnership with an established oral delivery company. So far, various potential oral formulations were explored for their ability to solubilize SPs and for their feasibility to be used in in vivo studies against MUC1 and COVID-19 targets. A potentially promising formulation was identified and currently it is being further studied to better define its performance. In parallel, an in vivo study was initiated aimed at testing the ability of the SP-based oral formulation to induce a systemic immune response in mice.
As previously reported Vaxil is making progress in the licensed drug delivery polymer that targets with high affinity E-selectin (P-Esbp), which was invented by Prof. Ayelet David, Head of the Drug Targeting and Nanomedicine Laboratory, Department of Clinical Biochemistry and Pharmacology from Ben-Gurion University of the Negev. E-selectin is an important component in inflammation, metastasis, and tumor growth processes, and Prof. Ayelet David’s previous work demonstrated therapeutic efficacy of P-Esbp conjugated with the anti-cancer drug doxorubicin (P-Esbp-DOX) in prolonging the survival of tumor-bearing mice with both primary (Lewis lung carcinoma) and metastatic tumors (melanoma lung metastasis model).
In order to further explore and establish the potential of P-Esbp-DOX for treating cancer, an in vivo experiment was designed aimed at evaluating the therapeutic efficacy of P-Esbp-DOX in a mouse model of aggressive liver metastasis of colorectal tumors. To this end, P-Esbp was successfully conjugated with DOX, and the maximum tolerated dose of P-Esbp-DOX was determined in the suitable mouse strain. Currently the in vivo treatment study is ongoing, and the results would help Vaxil to strategize the appropriate approach for a clinical program.
In addition, Vaxil announces that it further strengthens its intellectual property assets regarding the treatment of tuberculosis by using SPs, since a patent will be issued in the U.S. (U.S. patent No. 11135277) on 5 October, 2021, titled: “Antigen specific multi epitope-based anti-infective vaccines”, that includes claims relating to various SP-based anti-tuberculosis vaccines.
ABOUT VAXIL
Vaxil is an Israeli immunotherapy biotech company focused on its novel approach to targeting prominent cancer markers and infectious diseases. Its lead product ImMucin™ successfully completed a Phase 1/2 clinical trial in multiple myeloma for which it received orphan drug status from the FDA and EMA. The Company aims to continue to develop ImMucin™, a COVID-19 and a tuberculosis vaccine / treatment that has demonstrated promising preliminary results with further preclinical evaluation planned. Additional indications and mAb candidates are under evaluation as immuno-oncology and infectious disease treatments alone and in combination with other treatments.
Vaxil exploits the unique properties of signal peptide domains on crucial proteins to develop targeted therapies against cancer targets and infectious disease pathogens. These signal peptide domains are identified by VaxHit™, Vaxil’s proprietary bioinformatic approach. These signal peptides induce a robust T- and B-cell response across wide and varied HLA subtypes, while acting as true, universal neoantigens. The peptide platform targets these cells by “educating” or specifically activating the immune system to recognize and attack the affected cells. In addition, Vaxil’s mAb platform directly recognizes the target protein expressed on malignant cells and recruits other elements of the immune system to lyse those cells.
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.
Disclaimer: The Company cautions that COVID-19 Vaccine Development is still under early-stage research and development and is not making any express or implied claims that it has the ability to eliminate the COVID-19 virus at this time. The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States or elsewhere. These securities have not been, and will not be, registered in the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.
CONTACT INFORMATION
For further information please visit https://vaxil-bio.com/ or contact:
Gadi Levin, CFO — info@vaxil-bio.com, 647-558-5564
Primary Logo
VXL.v $VXLLF Nice follow thru ...day 2 of the move +40% ...congrats holders...hsb
SKYG.v $SRKZF neighbour in Newfoundland out with another sweet hit...
New Found Intercepts 64.94 g/t Au over 2.10m in Step-Out Drilling at the Golden Joint HW Zone and Extends the Golden Joint Main Vein to 235m Vertical Depth
by @newswire on 30 Sep 2021, 07:30
VANCOUVER, BC, Sept. 30, 2021 New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (NYSE American: NFGC) is pleased to announce assay results from eight step-out diamond drill holes designed to expand the high-grade gold mineralization at the Golden Joint Zone, a recently made discovery located approximately 1km north of the Keats Zone and approximately 850m south of the Lotto Zone. These holes were drilled as part of the Company's ongoing 200,000m diamond drill program at its 100%-owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
Highlights
Highlight intervals are summarized below. Additional results are provided in Table 2.
Table 1. Highlight results from Golden Joint (CNW Group/New Found Gold Corp.)
*
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.
The Golden Joint Zone is located approximately halfway between the Keats and Lotto zones and occurs on the east side of the Appleton Fault Zone. At this location, there is a confluence of secondary structures which hosts a network of high-grade gold veins forming two zones, Golden Joint Main Vein and Golden Joint Hanging Wall ('HW'), with an apparent conjugate relationship that is now drill-defined over a surface area of approximately 185m x 185m (Figures 2 and 3).
Immediately east of the Appleton Fault Zone is the Golden Joint Zone which is characterized by the presence of a high-grade Au-bearing, north south-striking, steeply west-dipping quartz vein, the Golden Joint Main Vein, similar to the Lotto Main Vein. Further east is the Golden Joint HW Zone, which strikes northeast, dips moderately to the southeast and is comprised of both stockwork and massive high-grade gold quartz veins (Figure 2). These two high-grade gold domains resemble mineralization styles found along this segment of the AFZ including at the Keats and Lotto zones.
Intercepts of 64.94 g/t Au over 2.10m and 17.43 g/t Au over 2.45m in hole NFGC-21-225 and 18.04 g/t Au over 2.00m in NFGC-21-181 in the Golden Joint HW Zone demonstrate persistent growth and continuity of this high-grade secondary gold trend.
16.35 g/t Au over 4.50m in NFGC-21-307B extends the high-grade gold mineralization in the Golden Joint Main Vein to 235m vertical depth and it remains open in all directions (Figure 1). Furthermore, the Golden Joint Main Vein continues to deliver strong results including 15.32 g/t Au over 4.25m in NFGC-21-322 and 20.70 g/t Au over 2.00m in NFGC-21-181, indicating a robust gold mineralization system.
Continued exploration will consist of two rigs targeting extension of the two Golden Joint high-grade gold trends down-dip and along strike in both directions, north to Dome and south towards Keats as both trends are open in all directions.
Melissa Render, VP of Exploration of New Found, stated: "At such an early stage of target advancement it is extremely encouraging to see such robust grades, continuity and strong vein development in two distinct zones at the Golden Joint. This area is of high priority, and it will be both exciting and interesting to see how continued drilling may connect the multitude of mineralized trends through this 2km length of the Appleton Fault Zone."
Figure 1. Golden Joint location and long-section (CNW Group/New Found Gold Corp.)
Note:
Golden Joint HW intervals are not included on this long-section (see Table 2)
Figure 2. Golden Joint Main and Golden Joint HW plan view (CNW Group/New Found Gold Corp.)
Figure 3. Golden Joint location along the Appleton Fault Zone (CNW Group/New Found Gold Corp.)
Drillhole Details
Table 2. Summary of results reported in this release (CNW Group/New Found Gold Corp.)
*
Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 70% to 90% of reported interva7ls. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
**
Results released on June 30, 2021, from NFGC-21-241 updated with additional secondary zone result.
Table 3. Details of drill holes reported in this release (CNW Group/New Found Gold Corp.)
Queensway 200,000m Drill Program Update
Approximately 48% of the 200,000m have been drilled to date with approximately 22,300m of core pending assay results. Nine core rigs are currently operating, with a tenth scheduled to commence shortly.
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 2m using a lower cut-off of 1.0 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30 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 initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated September 30, 2021, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. With a current working capital balance of approximately $110 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Phone: +1 (910) 406-2407
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to further exploration and drilling on the Company's Queensway gold project in Newfoundland, interpretation of results of the drilling program and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
VIEW PDF (CNW Group/New Found Gold Corp.)
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VXL.v $VXLLF Vaxil Announces Progress on Research and Development Activities
by @nasdaq on 29 Sep 2021, 04:50
Not for distribution by US newswire or in United States
NESS-ZIONA, Israel, Sept. 29, 2021 (GLOBE NEWSWIRE) -- VAXIL BIO LTD. (“Vaxil” or the “Company”) (TSX VENTURE: VXL), an innovative immunotherapy biotech company specializing in cancer and infectious diseases, announces here on the progress of its various research and development activities including; development of oral formulation for signal peptides ("SPs"), research on the utilization of P-Esbp polymer as a novel anti-cancer drug, and the issuance of U.S. patent No. 11135277 on 5 October, 2021, titled: “Antigen specific multi epitope-based anti-infective vaccines”.
Vaxil is continuing with its mission to bring novel medicines to the public, which includes the utilization of SPs as anti-cancer and anti-microbial vaccines. In order to improve treatment procedures of SP-based vaccines, Vaxil has engaged in efforts to develop a SP-based oral formulation. Vaxil believes that oral delivery of SPs can benefit patients by simplifying administration procedures without compromising the therapeutic efficacy, and it may also simplify manufacturing processes, transportation, and storage conditions.
SP-based oral formulation is being developed independently, as well as in partnership with an established oral delivery company. So far, various potential oral formulations were explored for their ability to solubilize SPs and for their feasibility to be used in in vivo studies against MUC1 and COVID-19 targets. A potentially promising formulation was identified and currently it is being further studied to better define its performance. In parallel, an in vivo study was initiated aimed at testing the ability of the SP-based oral formulation to induce a systemic immune response in mice.
As previously reported Vaxil is making progress in the licensed drug delivery polymer that targets with high affinity E-selectin (P-Esbp), which was invented by Prof. Ayelet David, Head of the Drug Targeting and Nanomedicine Laboratory, Department of Clinical Biochemistry and Pharmacology from Ben-Gurion University of the Negev. E-selectin is an important component in inflammation, metastasis, and tumor growth processes, and Prof. Ayelet David’s previous work demonstrated therapeutic efficacy of P-Esbp conjugated with the anti-cancer drug doxorubicin (P-Esbp-DOX) in prolonging the survival of tumor-bearing mice with both primary (Lewis lung carcinoma) and metastatic tumors (melanoma lung metastasis model).
In order to further explore and establish the potential of P-Esbp-DOX for treating cancer, an in vivo experiment was designed aimed at evaluating the therapeutic efficacy of P-Esbp-DOX in a mouse model of aggressive liver metastasis of colorectal tumors. To this end, P-Esbp was successfully conjugated with DOX, and the maximum tolerated dose of P-Esbp-DOX was determined in the suitable mouse strain. Currently the in vivo treatment study is ongoing, and the results would help Vaxil to strategize the appropriate approach for a clinical program.
In addition, Vaxil announces that it further strengthens its intellectual property assets regarding the treatment of tuberculosis by using SPs, since a patent will be issued in the U.S. (U.S. patent No. 11135277) on 5 October, 2021, titled: “Antigen specific multi epitope-based anti-infective vaccines”, that includes claims relating to various SP-based anti-tuberculosis vaccines.
ABOUT VAXIL
Vaxil is an Israeli immunotherapy biotech company focused on its novel approach to targeting prominent cancer markers and infectious diseases. Its lead product ImMucin™ successfully completed a Phase 1/2 clinical trial in multiple myeloma for which it received orphan drug status from the FDA and EMA. The Company aims to continue to develop ImMucin™, a COVID-19 and a tuberculosis vaccine / treatment that has demonstrated promising preliminary results with further preclinical evaluation planned. Additional indications and mAb candidates are under evaluation as immuno-oncology and infectious disease treatments alone and in combination with other treatments.
Vaxil exploits the unique properties of signal peptide domains on crucial proteins to develop targeted therapies against cancer targets and infectious disease pathogens. These signal peptide domains are identified by VaxHit™, Vaxil’s proprietary bioinformatic approach. These signal peptides induce a robust T- and B-cell response across wide and varied HLA subtypes, while acting as true, universal neoantigens. The peptide platform targets these cells by “educating” or specifically activating the immune system to recognize and attack the affected cells. In addition, Vaxil’s mAb platform directly recognizes the target protein expressed on malignant cells and recruits other elements of the immune system to lyse those cells.
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.
Disclaimer: The Company cautions that COVID-19 Vaccine Development is still under early-stage research and development and is not making any express or implied claims that it has the ability to eliminate the COVID-19 virus at this time. The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States or elsewhere. These securities have not been, and will not be, registered in the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.
CONTACT INFORMATION
For further information please visit https://vaxil-bio.com/ or contact:
Gadi Levin, CFO — info@vaxil-bio.com, 647-558-5564
Primary Logo
SKYG.v $SRKZF Quebec neighbour AMX.v $AMXEF Crux Investor Interview -Victor Cantorre Amex Exploration (AMX.v) - Big Copper Discovery Adds to Big Gold Story
SKYG.v's $SRKZF Newfoundland neighbour...listing on the big board...congrats to them...
New Found to List on the NYSE American Stock Exchange
by @newswire on 24 Sep 2021, 04:30
VANCOUVER, BC, Sept. 24, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce that the Company intends to list its common shares on the NYSE American stock exchange ("NYSE American") in the United States. New Found expects its common shares will commence trading on the NYSE American on or about September 29, 2021, under ticker symbol "NFGC". New Found's common shares will continue trading on the TSX Venture Exchange under ticker symbol "NFG".
New Found Gold Corp. Logo (CNW Group/New Found Gold Corp.)
Concurrent with the start of trading on the NYSE American, New Found's common shares will cease trading on the OTC Markets. Shareholders are not required to take any action.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. Nine rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by Q3 2021. With a current working capital balance of approximately $111 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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SOURCE New Found Gold Corp.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/24/c5465.html
GMG.v $GMGFF Graphene Manufacturing Group
GMG presentation at the 2021 Bezinga EV Conference
SKYG.v's Virginia Claim block nicely situated here relative to NFG.v's Big Dave and LAB.v's Golden Glove recent huge discoveries...
cheers
hsb
https://twitter.com/zippy_01/status/1441378941202153476/photo/1
GMG.v $GMGFF Graphene Manufacturing Group
#KorelinEconomicsReport (09/02/2021) #AudioInterview #EnergyStorage #EnergySavings
Craig Nichol, Founder and President of #Graphene Manufacturing Group $GMG joins us to recap the recent news highlighting independent testing of the THERMAL-XR division and a financing for around $11 million. We also provide a preview for the #webinar upcoming on Thursday, September 2, at 2pm PT (5pm ET).
#KorelinEconomicsReport (09/02/2021) #AudioInterview #EnergyStorage #EnergySavings
Craig Nichol, Founder and President of #Graphene Manufacturing Group $GMG joins us to recap the recent news highlighting independent testing of the THERMAL-XR division and a financing for around $11 million. We also provide a preview for the #webinar upcoming on Thursday, September 2, at 2pm PT (5pm ET).
SKYG.v $SRKZF Newfoundland neighbour (couple of kms away) out with massive NR this am ...
New Found Reports 1,131 g/t Au and 568 g/t Au Rock Samples at New 'Big Dave' Showing 2km North of Lotto
by @newswire on 23 Sep 2021, 04:30
VANCOUVER, BC, Sept. 23, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce recent assay results from field sampling along the Appleton Fault Zone. High-grade gold surface grab samples have been found in a new area 2km north of the Lotto Zone at the Company's 100% owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
Highlights
Highlight sample assay results are summarized below.
Highlights (CNW Group/New Found Gold Corp.)
* Note that grab samples are not intended to be representative of gold mineralization at Big Dave
A potential new zone of high-grade gold mineralization has been discovered along the Appleton Fault yielding assay results up to 1,131 g/t Au and is being called Big Dave. This showing is located 2km north of the Lotto Zone and 4km north of the Keats Zone, representing the northernmost showing of high-grade gold to date at the Queensway.
Sampling at Big Dave represents the first recorded surface rock samples from this under explored section of the Appleton Fault. This area of the Appleton Fault demonstrates limited outcrop and the two high-grade grab samples collected were of highly angular quartz float containing visible gold. The samples were located in close proximity to one another indicating the high potential for further discoveries along the Appleton Fault.
Big Dave shares a similar stratigraphic location to the Keats and Lotto zones along the east side of the Appleton Fault.
The highly angular nature of the float samples and geographical location indicate a bedrock source that reaches surface and may be close to the sample site.
The nearest drill hole to this new zone is located over 2km to the south at the Lotto Zone and these results indicate the potential for further high-grade gold mineralization along the underexplored Appleton Fault.
Big Dave is easily accessed through gravel logging roads located within 700m of the sample site.
The two samples of quartz contained disseminated fine-grained visible gold, boulangerite, chalcopyrite and arsenopyrite typical of the high-grade veins discovered at the Keats, Lotto, Golden Joint and other showings along the Appleton Fault.
Extensive geophysical coverage of the area has allowed the Company to vector and plan drill targets to be completed in Q4 2021.
Greg Matheson, COO of New Found, stated: "Over 20 years ago a single high-grade float sample was located along the Appleton Fault yielding 1,869 g/t Au; this sample led to the eventual discovery of the nearby Keats Zone. The continued drill expansion of the high-grade Keats Zone demonstrates our ability to find the source of such high-grade samples. Continuing to discover new areas with high-grade gold is exciting and speaks volumes to the potential to transform the Queensway into a multi-discovery district."
Figure 1. Big Dave Plan View (CNW Group/New Found Gold Corp.)
Photos of Rock Samples
Figure 2a. Photos of C745011 (CNW Group/New Found Gold Corp.)
Figure 2b. Photos of C745011 (CNW Group/New Found Gold Corp.)
Note that these photos are not intended to be representative of gold mineralization at Big Dave
Sampling, Sub-sampling and Laboratory
Assay values reported are uncut and were obtained by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland. The entire sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Field program Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated Sept 23, 2021, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. Nine rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs in Q3 2021. With a current working capital balance of approximately $111 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Phone: (604) 562 9664
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to further exploration and drilling on the Company's Queensway gold project in Newfoundland, interpretation of results of the drilling program and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
VIEW PDF (CNW Group/New Found Gold Corp.)
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SOURCE New Found Gold Corp.
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BARU.v $BARUF Reconnaissance Mapping Defines Potential New Exploration Targets on Sangihe
by @thenewswire on 22 Sep 2021, 06:30
(TheNewswire)
Vancouver, BC - TheNewswire - September 22, 2021 - Baru Gold Corp (“Baru” or the "Company”) (TSXV:BARU) (OTC:BARUF) has, during the past month on Sangihe, undertaken reconnaissance mapping and sampling prior to the commencement of the Resource Development drilling program. This effort has identified four new prospects which could become future exploration drilling targets should the samples taken from these prospects return positive assay results.
The four new prospects are known as Darelupang, West Bawone, Southwest Bawone and South Salurang.
- The Darelupang prospect is located 300 metres west of the Binebase 2021 Resource Development Drilling holes. It is defined as a low sulphidation (LS) vein system composed of a sheeted quartz vein zone of 1.2 metres width within a volcanic breccia host rock. Textures that are visible on individual veins within this zone are vuggy, zoning, and colloform bending.
- The West Bawone prospect is located 300 metres west of the Bawone 2021 Resource Development Drilling holes. It is defined as high sulphidation (HS) silica-alunite system composed of a 1 metre wide hydrothermal breccia with chloritic and hematitic alteration within a volcanic breccia host rock. The hydrothermal breccia has a chalcedonic-silica ground mass.
- The South Salurang prospect is located 100 metres south of the current exploration drilling program planned from Bawone to South of Salurang village and southeast of the outskirts of Salurang village. It is defined as high sulphidation (HS) silica-alunite system composed of a 1 metre wide oxidized sheeted-stockwork zone with a density of 10 veinlets/ metre. The veinlets with the stockwork zone have a brecciated texture. At a separate location in the South Salurang was an outcrop of oxidized vuggy silica rock with a width of 1.5 metres which consists of a brecciated and vuggy texture.
- The Southwest Bawone prospect is located 1,100 metres southwest of the Bawone 2021 Resource Development Drilling holes. It is defined as a low sulphidation (LS) vein system composed of a hydrothermal breccia of 1 metre width with hematitic alteration within a volcanic breccia host rock. Also sampled at the Southwest Bawone prospect was a brecciated green silica vein with hematitic alteration on the clasts, colloform bending of the veinlets and a chloritic ground mass as shown in Figure 1.
Click Image To View Full Size
Figure 1. Brecciated green silica vein from Southwest Bawone prospect.
All outcrops encountered in these four new prospects have been mapped with grab and channel samples and have been submitted to the Intertek Laboratory in Jakarta for assay analysis.
Frank Rocca, Chief Geologist of Baru Gold, commented, “All of these new prospects are very exciting as none are included in the resources covered in the Sangihe 2010 NI 43-101 report which identified 835,000 ounces of gold as inferred resources; and so, with further exploration, these resources have the potential to be expanded significantly. Also important to note, as with the area Baru will soon begin production on, the newly explored areas will not require the relocation of any homes or villages.”
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.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance, or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance, or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Reconnaissance Mapping Defines Potential New Exploration Targets on Sangihe
by @thenewswire on 22 Sep 2021, 06:30
(TheNewswire)
Vancouver, BC - TheNewswire - September 22, 2021 - Baru Gold Corp (“Baru” or the "Company”) (TSXV:BARU) (OTC:BARUF) has, during the past month on Sangihe, undertaken reconnaissance mapping and sampling prior to the commencement of the Resource Development drilling program. This effort has identified four new prospects which could become future exploration drilling targets should the samples taken from these prospects return positive assay results.
The four new prospects are known as Darelupang, West Bawone, Southwest Bawone and South Salurang.
- The Darelupang prospect is located 300 metres west of the Binebase 2021 Resource Development Drilling holes. It is defined as a low sulphidation (LS) vein system composed of a sheeted quartz vein zone of 1.2 metres width within a volcanic breccia host rock. Textures that are visible on individual veins within this zone are vuggy, zoning, and colloform bending.
- The West Bawone prospect is located 300 metres west of the Bawone 2021 Resource Development Drilling holes. It is defined as high sulphidation (HS) silica-alunite system composed of a 1 metre wide hydrothermal breccia with chloritic and hematitic alteration within a volcanic breccia host rock. The hydrothermal breccia has a chalcedonic-silica ground mass.
- The South Salurang prospect is located 100 metres south of the current exploration drilling program planned from Bawone to South of Salurang village and southeast of the outskirts of Salurang village. It is defined as high sulphidation (HS) silica-alunite system composed of a 1 metre wide oxidized sheeted-stockwork zone with a density of 10 veinlets/ metre. The veinlets with the stockwork zone have a brecciated texture. At a separate location in the South Salurang was an outcrop of oxidized vuggy silica rock with a width of 1.5 metres which consists of a brecciated and vuggy texture.
- The Southwest Bawone prospect is located 1,100 metres southwest of the Bawone 2021 Resource Development Drilling holes. It is defined as a low sulphidation (LS) vein system composed of a hydrothermal breccia of 1 metre width with hematitic alteration within a volcanic breccia host rock. Also sampled at the Southwest Bawone prospect was a brecciated green silica vein with hematitic alteration on the clasts, colloform bending of the veinlets and a chloritic ground mass as shown in Figure 1.
Click Image To View Full Size
Figure 1. Brecciated green silica vein from Southwest Bawone prospect.
All outcrops encountered in these four new prospects have been mapped with grab and channel samples and have been submitted to the Intertek Laboratory in Jakarta for assay analysis.
Frank Rocca, Chief Geologist of Baru Gold, commented, “All of these new prospects are very exciting as none are included in the resources covered in the Sangihe 2010 NI 43-101 report which identified 835,000 ounces of gold as inferred resources; and so, with further exploration, these resources have the potential to be expanded significantly. Also important to note, as with the area Baru will soon begin production on, the newly explored areas will not require the relocation of any homes or villages.”
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.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance, or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance, or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
BARU.v $BARUF Reconnaissance Mapping Defines Potential New Exploration Targets on Sangihe
by @thenewswire on 22 Sep 2021, 06:30
(TheNewswire)
Vancouver, BC - TheNewswire - September 22, 2021 - Baru Gold Corp (“Baru” or the "Company”) (TSXV:BARU) (OTC:BARUF) has, during the past month on Sangihe, undertaken reconnaissance mapping and sampling prior to the commencement of the Resource Development drilling program. This effort has identified four new prospects which could become future exploration drilling targets should the samples taken from these prospects return positive assay results.
The four new prospects are known as Darelupang, West Bawone, Southwest Bawone and South Salurang.
- The Darelupang prospect is located 300 metres west of the Binebase 2021 Resource Development Drilling holes. It is defined as a low sulphidation (LS) vein system composed of a sheeted quartz vein zone of 1.2 metres width within a volcanic breccia host rock. Textures that are visible on individual veins within this zone are vuggy, zoning, and colloform bending.
- The West Bawone prospect is located 300 metres west of the Bawone 2021 Resource Development Drilling holes. It is defined as high sulphidation (HS) silica-alunite system composed of a 1 metre wide hydrothermal breccia with chloritic and hematitic alteration within a volcanic breccia host rock. The hydrothermal breccia has a chalcedonic-silica ground mass.
- The South Salurang prospect is located 100 metres south of the current exploration drilling program planned from Bawone to South of Salurang village and southeast of the outskirts of Salurang village. It is defined as high sulphidation (HS) silica-alunite system composed of a 1 metre wide oxidized sheeted-stockwork zone with a density of 10 veinlets/ metre. The veinlets with the stockwork zone have a brecciated texture. At a separate location in the South Salurang was an outcrop of oxidized vuggy silica rock with a width of 1.5 metres which consists of a brecciated and vuggy texture.
- The Southwest Bawone prospect is located 1,100 metres southwest of the Bawone 2021 Resource Development Drilling holes. It is defined as a low sulphidation (LS) vein system composed of a hydrothermal breccia of 1 metre width with hematitic alteration within a volcanic breccia host rock. Also sampled at the Southwest Bawone prospect was a brecciated green silica vein with hematitic alteration on the clasts, colloform bending of the veinlets and a chloritic ground mass as shown in Figure 1.
Click Image To View Full Size
Figure 1. Brecciated green silica vein from Southwest Bawone prospect.
All outcrops encountered in these four new prospects have been mapped with grab and channel samples and have been submitted to the Intertek Laboratory in Jakarta for assay analysis.
Frank Rocca, Chief Geologist of Baru Gold, commented, “All of these new prospects are very exciting as none are included in the resources covered in the Sangihe 2010 NI 43-101 report which identified 835,000 ounces of gold as inferred resources; and so, with further exploration, these resources have the potential to be expanded significantly. Also important to note, as with the area Baru will soon begin production on, the newly explored areas will not require the relocation of any homes or villages.”
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.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance, or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance, or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
SKYG.v $SRKZF Quebec neighbour AMX.v $AMXEF out with some solid intercepts this am ...by @newsfile on 21 Sep 2021, 00:00
Amex Drills Copper Rich VMS Mineralization in First Follow-Up Drillhole on the Qf Zone; Intersects 1.93% Copper, 0.15% Zinc, 0.28 g/t Gold and 14.0 g/t Silver over 8.00 M
Montreal, Quebec--(Newsfile Corp. - September 21, 2021) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce the results of its first follow-up drillhole on the copper rich volcanogenic massive sulphide ('VMS') QF zone. The QF Zone occurs along the Normétal Mine Horizon which is a kilometric tuffaceous unit that host the nearby past-producing Normétal Mine as shown in Figure 1. Recall that the QF Zone discovery drillhole, PEX-21-076, returned 2.40% copper, 0.72% zinc, 0.27 g/t gold and 22.15 g/t silver over 7.80 m as announced on August 9, 2021. Today's results from drillhole PEX-21-083, which is approximately 65 metres deeper than the discovery hole, returned 1.93% Cu, 0.15% Zn, 0.28 g/t Au, and 14.0 g/t Ag over 8.0 metres, including a high-grade core of 3.40% Cu, 0.25% Zn, 0.48 g/t Au, and 24.31 g/t Ag over 4.55 metres, which confirms both the width and grade of the discovery hole as shown in Figures 2, 3, & 4 and Table 1.
Dr. Jacques Trottier, Executive Chairman of Amex, commented, "I am very pleased to have essentially replicated the widths and strong grades of the discovery hole with a vertical step down by 65 metres. This successful follow-up drill hole confirms that this mineralization could be of significant size and we are enthusiastically looking forward to the results of this follow up drilling phase. We have since drilled additional holes targeting the on-strike and vertical extensions of this mineralization. The similarity in grade of the QF Zone holes announced to date to the past-producing 10.1 million tonne Normétal Mine is especially encouraging. On the backs of the successes to date on this zone, Amex has allocated an additional 5,000 metres of drilling to further test this copper-rich sulfide zone."
In 2021, Amex conducted a small exploration program focused on the Normétal Mine Sequence, which is present over more than 4.5 km long within the Perron property. The QF Zone represents one of several similar targets that occur along the Normétal Mine Sequence on the Perron project.
Table 1: Assay results from the QF Zone at Perron
Hole ID From (m) To (m) Length (m) Cu (%) Zn (%) Au (g/t) Ag (g/t) Zone
PEX-21-083 712.70 720.70 8.00 1.93 0.15 0.28 14.00 QF Zone
Including 712.70 717.25 4.55 3.40 0.25 0.48 24.31
*PEX-21-076 663.10 670.90 7.80 2.40 0.72 0.27 22.15 QF Zone
Including 666.50 670.90 4.40 3.92 1.22 0.39 35.99
Including 670.00 670.90 0.90 6.94 4.65 0.30 73.00
Core lengths are reported; true widths are currently unknown. *PEX-21-076 was previously released on August 9, 2021
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Figure 1: Geological map of the Normétal Volcanic Complex, with the location of the Perron Property and the new VMS discovery (named the QF Zone). Modified from Lafrance et al., 2000.
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Figure 2: Geological compilation map of the target VMS area of the Perron property located within the Normétal Mine Sequence containing the QF Zone. Hydrothermal alteration indexes, generated during the reworking of historical data, are plotted along drillholes with whole rock analysis available. CCPI (Chlorite Carbonate Pyrite Index : Large et al. 2001) = 100*(MgO+FeO)/(MgO+FeO+Na2O+K2O); AI (Alteration Index : Ishikawa et al., 1976) = 100*(K2O+MgO)/(MgO+FeO+Na2O+K2O). Geology is modified from Sigéom.
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Figure 3A and 3B: Long section of the QF Zone. A) All drill holes intersections with an emphasis on grades and mineralization typology. B) All drillholes intersections with an emphasis on borehole electromagnetic (BHEM) anomalies. Abbreviations: MS - Massive sulphides; SMS - Semi-massive sulphides; Po - Pyrrhotite; Py - Pyrite; VTEM - versatile Time Domain Electromagnetic.
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Figure 4: Photographs of the massive to disseminated sulphides Cu-rich lens intersected in drill hole PEX-21-083. Abbreviations : Cp - Chalcopyrite; MS - Massive sulphides; Sp - Sphalerite; Po - Pyrrhotite; Py - Pyrite
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Qualified Person
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of one blank, one standard and one duplicate every 10 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. Additionally, sample weight is taken prior shipment to validate sample identity. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Amex
Amex Exploration Inc. is a junior mining exploration company, 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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SKYG.v $SRKZF Virginia claimblock neighbour ...Labrador Gold Samples 338 g/t Au in New Discovery at Golden Glove 3.5km South of Big Vein
by @nasdaq on 21 Sep 2021, 05:00
Highlights
Rock chip assays from the new discovery include 338.08 g/t Au, 194.28 g/t, 193.69 g/t and 83.61 g/t Au confirming the presence of high-grade epizonal gold in a second location on the Kingsway property
This further demonstrates the significant potential for high-grade near surface gold mineralization to be found along the Appleton Fault Zone
Golden Glove lies on the southeast side of the Appleton Fault Zone similar to gold occurrences to the south of Kingsway
TORONTO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce high-grade assay results from samples collected at a brand new discovery, the Golden Glove, located approximately 3.5km south of Big vein, part of its 100% controlled Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District.
Assays of six grab samples taken from an outcrop of mineralized quartz vein range from 2.99 to 338.08g/t Au. The three highest grade samples contained visible gold. A sample of quartz vein float approximately 60 metres to the northeast of the visible gold outcrop assayed 2.16g/t Au. Highlights of the results are given below.
Sample # Sample Type Sample Type Rock Type Au (g/t)
709307 outcrop float Quartz vein 2.16
709253 outcrop Grab* Quartz vein with visible gold 338.08
709252 outcrop Grab Quartz vein with visible gold 194.28
709251 outcrop Grab Quartz vein with visible gold 193.69
709010 Outcrop Grab Quartz vein with py, apy and cpy 6.34
709009 Outcrop Grab Quartz vein with py, apy and cpy 83.61
555963 Outcrop Grab Quartz Vein with py 2.99
Abbreviations: py pyrite, apy arsenopyrite, cpy chalcopyrite *Note that grab samples are select samples and are not necessarily representative of gold mineralization found on the property.
The Golden Glove discovery is located adjacent to the Appleton Fault Zone approximately 3.5km southwest of Big Vein. Unlike Big Vein, it is located on the southeast side of the Appleton Fault Zone, similar to the Keats, Golden Joint and Lotto occurrences on New Found Gold’s Queensway property immediately to the south.
“The discovery of high-grade gold mineralization at Golden Glove is the result of our systematic approach to exploration at Kingsway. Golden Glove is just one of six prospective gold targets, excluding Big Vein, that we have generated and are currently exploring along the Appleton Fault,” said Roger Moss, President and CEO of Labrador Gold. “We continue to advance these targets and generate new ones along the entire 12km length of the Appleton Fault covered by the Kingsway Project. This is the second new discovery made by LabGold on the Kingsway project following the discovery of Big Vein late last year. We anticipate making further discoveries as we continue to explore what appears to be a very productive fault zone.”
Figure 1. Location of the Golden Glove visible gold occurrence together with other prospective gold targets along the Appleton Fault Zone.
https://www.globenewswire.com/NewsRoom/AttachmentNg/73bedc9c-55cf-454d-a8e9-5bfb71de552e
Figure 2. Samples from Golden Glove containing visible gold.
https://www.globenewswire.com/NewsRoom/AttachmentNg/f7b86958-8832-49ae-a78b-2e9929eb0bce
QA/QC
Samples were shipped to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples were analyzed for gold by whole sample metallic screen/fire assay or by standard 30g fire assay with ICP (inductively coupled plasma) finish. The company submits blanks, field duplicates and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $34 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.
The Company has 152,912,462 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter: @LabGoldCorp
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Primary Logo
Figure 1
Location of the Golden Glove visible gold occurrence together with other prospective gold targets along the Appleton Fault Zone.
Figure 2
Samples from Golden Glove containing visible gold.
GLM.ca $GOLXF Golden Lake Hits Significant Mineralization in Six Of Six Drill Holes at The Jewel Ridge Property, Nevada
by @accesswire on 16 Sep 2021, 05:03
VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / Golden Lake Exploration Inc. (CSE:GLM) (GOLXF-OTCQB) ("GLM" or the "Company") reports today a summary and detailed assay results from six additional diamond drill holes of the ongoing Phase 2 program on the "Eureka Target" on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nevada. All six holes have intersected a robust zone of "Carlin-style", oxide, significant gold mineralization in carbonates with the best intercept (based gold grade x thickness in meters) in hole JR-21-21DD which returned 39 meters from the collar averaging 1.07 g/t Au and 2.2 g/t Ag and the average over the six holes being 36 meters in thickness grading 0.81 grams gold per tonne (g/t Au) and 2.1 grams silver per tonne (g/t Au). To date, all intercepts of the Eureka Target start at surface, or at shallow depths and are targets for open-pit, heap-leachable gold operations. Hole JR-21-17DD intersected the thickest zone of gold mineralization at 47.9 meters averaging 0.42 g/t Au and 1.2 g/t Ag and returned anomalous gold values (+0.30 g/t Au) for a plus 110-meter interval.
Table 1 SUMMARY OF DRILL RESULTS - EUREKA TARGET, JEWEL RIDGE PROPERTY, EUREKA COUNTY, NV
Mike England, Golden Lake CEO, states, "We have followed up our initial drill results with very strong numbers demonstrating that we have hardly gotten started. Drilling on the Eureka Target on the Jewel Ridge Property continues to deliver significant intervals of oxide gold mineralization, with six impressive intercepts in all six holes reported. Our team at Jewel Ridge continues to expand the footprint of the near-surface Carlin-style mineralization. Drilling and geological mapping also continues on the property directed at the high-grade bonanza CRD mineralization. The large gold halo (+100 meter thickness) in hole JR-21-17DD, open to the north and north-east, represents an exploration target with significant tonnage potential. Activity, including drilling, will continue on the property throughout the fall."
Highlights
Diamond drilling continues on the Eureka Target on the north-central portion of the Jewel Ridge property, with drilling currently active on hole JR-21-28 DD. All holes have been core drilled. To date, 14 holes have been drilled as part of the Phase 2 program, comprising 2,710 meters (8,890 ft).
Hole JR-21-17DD is the most northern located hole with assays received and although lower in grade, it exhibits a much thicker zone (+110 meters) of anomalous gold mineralization than previously indicated on the Jewel Ridge property. From the collar at surface, to a depth of 110.3 meters, the Upper Mineralized one ("UMZ") averaged 0.32 g/t Au and 1.1 g/t Ag. Higher grade intervals included 25.5 meters averaging 0.54 g/t Au and 1.6 g/t Ag from a depth of 39.0 meters, and 7.0 meters averaging 0.54 g/t Au and 0.9 g/t Ag from a depth of 79.9 meters. In addition, hole JR021-17DD intersected the Lower Mineralized Zone ("LMZ") returning 0.55 g/t AU and 3.2 g/t Ag over 5.1 meters from a depth of 255.1 meters.
Based on drilling to date, the disseminated, "Carlin-style", oxide mineralization appears as a tabular zone, varying from 25 to 45 meters in thickness (with potential for +100 meters thickness), dipping shallowly to the east, and north-east. The Carbonate Replacement Deposit ("CRD") bonanza mineralization intersected in hole JR-20-12DD occurs within the disseminated oxide gold mineralized zone, and in places below it. Hole JR-21-22DD intersected a narrow (0.7 meter) CRD intercept approximately 7.2 meters below the UMZ which returned 0.94 g/t Au, 14.5 g/t Ag and 0.24% lead (Pb) and 0.78 % zinc (Zn). The delineation of the CRD targets are complicated by more extensive underground workings in the Eureka Target area than was previously known, with several holes terminated by encountering these underground workings.
SUMMARY OF DRILL HOLES JR-21-DD17 DD to JR-21-225DD (detailed assays on the Company website)
Drilling Quality assurance and quality control statement
Procedures have been implemented to assure QA/QC of drill hole assaying being done at an ISO accredited assay laboratory. All intervals of drill holes are being assayed and samples have been securely shipped and received by Paragon Geochemical in Sparks, Nevada, with chain-of-custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence. All results will be analyzed for consistency.
About the Jewel Ridge Property
The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company's focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company's property.
Qualified person
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE
CONTACT: Telephone: 1-604-683-3995
TollFree:1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Golden Lake Exploration Inc.
View source version on accesswire.com:
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SKYG.v $SRKZF Newfoundland neighbour out with additional definition drilling at Keats zone...
New Found Intercepts More High-Grade Gold at Keats; Extends Zone 200m Vertically Towards Surface
by @newswire on 15 Sep 2021, 04:30
VANCOUVER, BC, Sept. 15, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce recently received assay results from twenty-nine holes drilled at the Keats Zone ("Keats"), located along the Appleton Fault Zone. These holes were completed as part of the Company's ongoing 200,000m diamond drill program at its 100% owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.
Highlights
Highlight intervals are summarized below. Additional results are provided in Table 2.
Highlights (CNW Group/New Found Gold Corp.)
Hole No.
From
(m)
To (m)
Interval
(m)*
Au (g/t)
Zone
NFGC-21-145
39.00
41.50
2.50
21.29
Keats Main
NFGC-21-170
101.55
106.40
4.85
31.80
Keats Main
NFGC-21-184
140.25
143.25
3.00
36.52
Keats Main
NFGC-21-250
170.75
177.80
7.05
32.65
Keats Main
NFGC-21-251
227.00
229.00
2.00
137.49
Keats Main
NFGC-21-257
229.50
232.55
3.05
24.12
Keats Main
NFGC-21-310
279.25
281.45
2.20
104.59
Keats Main
* Note that the true width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 85% to 95% of reported intercepts. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m; grades have not been capped in the averaging.
The interval of 104.59 g/t Au over 2.20m in NFGC-21-310 is the furthest south drill interval reported to date along the south-westerly plunging core dilatational zone extending drill definition of this zone (see Figures 1 and 2).
Recent intercept highlights of 31.80 g/t Au over 4.85m in NFGC-21-170 and 36.52 g/t Au over 3.00m in NFGC-21-184 up dip of the core dilatational zone within the Keats fault demonstrate strong vertical continuity of the Keats Main Zone to surface.
The Keats high-grade zone vertical profile now exceeds 200m up dip of the core dilatational zone and is open to surface and along strike to the northeast and southwest.
Drill hole NFGC-21-257 intersected a new zone of high-grade gold mineralization in the hanging wall of the Keats fault near surface; the interval graded 9.18g/t Au over 2.70m.
Future exploration at Keats will continue to expand the Keats Main zone along strike and down plunge but also focus on targeting specific zones in both the hanging wall and foot wall of the Keats fault.
Denis Laviolette, President of New Found, stated: "The high-grade zones along the Appleton Fault continue to see significant expansion. Today's announcement demonstrates further continuity of high-grade gold mineralization at Keats including between the core dilatational zone and surface; a vertical distance of 200m. Last week we announced that we doubled the drilled depth of the high-grade Lotto vein system with strong vertical continuity, and we are now seeing similar vertical continuity at Keats above the plunging dilation zone. We are pleased to see high-grade zones that start at surface and extend for these distances along strike and to depth, remaining open in all directions for further expansion. The addition of a new hanging wall zone at Keats near surface adds to the growing list of discoveries made this past year along the Appleton Fault. These discoveries continue to support our belief in the high potential for additional discoveries along approximately 7.8km of strike on the Appleton Fault, within a prospective corridor of approximately 500m on each side of the Appleton Fault."
Figure 1. Keats Plan View (CNW Group/New Found Gold Corp.)
Figure 2. Keats Long Section (CNW Group/New Found Gold Corp.)
Figure 3. 3D Keats Composite Cross-Section (A to A’ looking north, 150m clipping) (CNW Group/New Found Gold Corp.)
Drill-hole Details
Table 2. Summary of results reported in this release (CNW Group/New Found Gold Corp.)
Table 2b. Summary of results reported in this release (CNW Group/New Found Gold Corp.)
Table 2c. Summary of results reported in this release (CNW Group/New Found Gold Corp.)
Hole No.
From
(m)
To (m)
Interval
(m)*
Au (g/t)
Zone
NFGC-21-92
176.00
178.00
2.00
1.92
Keats South
NFGC-21-120**
9.65
21.70
12.05
12.65
Keats Main
Including
9.65
13.25
3.60
35.76
And**
22.90
25.00
2.10
1.33
And**
28.20
33.00
4.80
1.98
And**
36.00
38.00
2.00
2.66
And**
40.30
46.00
5.70
5.16
And
95.00
98.00
3.00
1.69
Keats FW
NFGC-21-140
95.50
103.45
7.95
3.59
Keats Main
Including
100.15
102.45
2.30
9.69
And
164.25
166.60
2.35
1.01
Keats FW
NFGC-21-145
39.00
41.50
2.50
21.29
Keats Main
And
81.00
83.35
2.35
13.04
Keats FW
NFGC-21-148A
233.50
256.35
22.85
1.15
Keats Main
NFGC-21-149
48.05
53.60
5.55
2.46
Keats Main
And
62.55
67.35
4.80
9.22
And
72.80
77.45
4.65
1.82
NFGC-21-163
73.80
85.40
11.60
4.92
Keats Main
Including
77.65
80.65
3.00
13.30
And
154.00
156.75
2.75
1.40
Keats FW
NFGC-21-164
247.80
250.00
2.20
1.37
Keats Main
And
261.00
263.00
2.00
1.23
And
267.45
270.00
2.55
1.65
And
272.30
277.20
4.90
1.77
NFGC-21-170
70.00
72.70
2.70
1.96
Keats Main
And
90.70
93.00
2.30
1.02
And
101.55
106.40
4.85
31.80
NFGC-21-173
115.60
117.80
2.20
1.39
Keats Main
And
126.90
128.95
2.05
4.09
NFGC-21-174
273.60
277.05
3.45
1.79
Keats Main
And
300.00
306.00
6.00
1.57
And
340.90
343.00
2.10
1.85
Keats FW
NFGC-21-184
140.25
143.25
3.00
36.52
Keats Main
And
151.30
154.00
2.70
1.02
NFGC-21-188A
NSV
Keats Main
NFGC-21-194
NSV
Keats North
NFGC-21-198
141.85
144.30
2.45
1.03
Keats Main
And
154.50
156.55
2.05
4.23
NFGC-21-200
NSV
Keats Main
NFGC-21-203
157.35
162.15
4.80
2.71
Keats Main
Including
157.35
159.90
2.55
4.14
And
173.50
176.00
2.50
1.08
And
242.60
245.65
3.05
1.12
Keats FW
NFGC-21-212
71.60
74.75
3.15
2.64
Keats Main
And
90.00
92.65
2.65
1.77
NFGC-21-222
242.00
245.70
3.70
1.20
Keats Main
And
260.00
262.85
2.85
1.33
And
290.95
293.20
2.25
1.19
And
334.95
337.00
2.05
1.51
NFGC-21-223
21.00
23.65
2.65
1.05
Keats Main
And
88.40
90.60
2.20
1.23
Keats FW
NFGC-21-227
42.30
44.30
2.00
1.71
Keats Main
NFGC-21-229
NSV
Keats Main
NFGC-21-236
48.75
51.05
2.30
2.28
Keats Main
And
61.65
64.00
2.35
1.91
NFGC-21-247
43.55
45.90
2.35
1.01
Keats Main
And
51.35
62.00
10.65
3.37
Including
52.85
55.05
2.20
10.10
And
64.40
66.50
2.10
1.46
And
77.00
79.60
2.60
1.31
And
83.55
85.55
2.00
1.30
And
90.65
93.00
2.35
1.05
Keats FW
And
160.00
162.05
2.05
2.02
NFGC-21-250
170.75
177.80
7.05
32.65
Keats Main
Including
171.60
175.90
4.30
52.36
And
183.05
188.80
5.75
2.01
NFGC-21-251
227.00
229.00
2.00
137.49
Keats Main
NFGC-21-257
62.30
65.00
2.70
9.18
Keats HW
And
229.50
236.00
6.50
16.04
Keats Main
Including
229.50
232.55
3.05
24.12
NFGC-21-283
235.40
237.55
2.15
1.05
Keats Main
And
239.30
246.85
7.55
1.21
And
253.40
255.45
2.05
1.08
And
268.55
270.95
2.40
1.10
And
272.35
274.55
2.20
6.96
NFGC-21-310
279.25
281.45
2.20
104.59
Keats Main
Table 2: Summary of results reported in this release
* Note that the true width of the mineralization is uncertain, but host structures are interpreted to be steeply dipping implying true widths in the range of 85% to 95% of reported intercepts. Intervals are calculated at a 1 g/t Au cut-off grade and minimum width of 2m, grades have not been capped in the averaging. ** Results released on July 5, 2021, from NFGC-21-120 updated with additional secondary zone results.
Hole No.
Azimuth
(°)
Dip (°)
Length
(m)
UTM E
UTM N
NFGC-21-92
300
-45
346
657836
5427049
NFGC-21-120
300
-45
109
658228
5427529
NFGC-21-140
300
-45
182
658159
5427410
NFGC-21-145
300
-45
209
658117
5427435
NFGC-21-148A
300
-45
333
658182
5427224
NFGC-21-149
300
-45
141
658158
5427455
NFGC-21-163
300
-45
233
658092
5427392
NFGC-21-164
300
-45
288
658204
5427216
NFGC-21-170
300
-45
171
658114
5427379
NFGC-21-173
300
-45
188
658135
5427367
NFGC-21-174
300
-45
366
658205
5427215
NFGC-21-184
300
-45
196
658157
5427354
NFGC-21-188A
300
-45
269
658292
5427337
NFGC-21-194
300
-45
365
658587
5427560
NFGC-21-198
300
-45
227
658164
5427343
NFGC-21-200
297
-55
395
658170
5427203
NFGC-21-203
300
-45
314
658144
5427333
NFGC-21-212
298.5
-45.5
194
658126
5427401
NFGC-21-222
297
-55
350
658133
5427195
NFGC-21-223
299
-45.5
112
658241
5427551
NFGC-21-227
299
-45.5
146
658253
5427545
NFGC-21-229
297
-55.5
356
658130
5427165
NFGC-21-236
299
-45.5
251
658130
5427457
NFGC-21-247
299
-45.5
182
658147
5427476
NFGC-21-250
298
-46
205
658207
5427368
NFGC-21-251
118
-75
334
657951
5427310
NFGC-21-257
118
-78
346
657951
5427310
NFGC-21-283
300
-45
392
658148
5427216
NFGC-21-310
300
-45
386
658112
5427179
Table 3: Details of drill holes reported in this release
Figure 4. Photos of mineralization from NFGC-21-310, approximately 279m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-310. (CNW Group/New Found Gold Corp.)
Queensway 200,000m Drill Program Update
Approximately 44 percent of the 200,000 meters have been drilled to date with approximately 20,000 meters of core pending assay results. Nine core rigs are currently operating, with a tenth scheduled to start in Q3 2021.
Sampling, Sub-sampling and Laboratory
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 85% to 95% of reported core lengths. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cut-off of 1.0 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated Sept 15, 2021, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. Nine rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs in Q3 2021. With a current working capital balance of approximately $111 million, New Found is well funded for this program.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Phone: (604) 562 9664
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to further exploration and drilling on the Company's Queensway gold project in Newfoundland, interpretation of results of the drilling program and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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