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EDV, ARK, QRC
West African gold miner Endeavour Mining aka EDV continues to prove they are top notch mine builders with the announcement of the first gold pour at their Lafigué mine in Côte d’Ivoire, completed on budget and ahead of schedule. EDV has now built five mines in the last ten years, each built in two years of less, all on budget and on or ahead of schedule. That's about as good as it gets.
Lafigué is expected to be a very low cost producer, scheduled to produce over 200k oz Au per year for at least 13 years at an AISC of around $900/oz, generating large amounts of FCF for the company.
With this latest round of builds now producing, I expect a rerating of the company's shares as the implications sink in. The brouhaha involving the former CEO is now in the rear view mirror.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34719895
Arras Minerals aka ARK announced the start of an IP survey on their Elemes property in Kazakhstan. This is designed to further refine drill targets on a number of potential Cu/Au porphyries on the property, defined by historical drilling by other companies and further exploration by ARK.
Once the IP results have been collated, drilling will resume.Note that this is not one of the properties falling under the ARK-Teck exploration alliance.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34719914
Queen's Road Capital aka QRC, which operates by placing convertible debentures with mining companies and pays the resulting income out as dividends, announced a big move into copper. Their latest debenture placement, worth $50M, is with a private company running a copper mine in Zambia, and will be used by that company to help fund a major expansion in their production. On QRC's side, this will increase their copper exposure from under 5% to ~20%, and will increase their convertible debenture portfolio to US$209 million, generating an average 9.6% coupon with an annual interest income of US$20.0 million which will support future dividend payments to shareholders.
QRC is essentially a vehicle for a group of Australian billionaires to generate income, and we retail shareholders can go along for the ride. I expect the billionaires will be happy with this move.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34719929
GR Silver Mining Revisits Marlin Gold Disposition, Enhancing Financial Position
https://www.newswire.ca/news-releases/gr-silver-mining-revisits-marlin-gold-disposition-enhancing-financial-position-877919569.html
GR Silver Mining Ltd. Jun 28, 2024, 07:30 ET
VANCOUVER, BC, June 28, 2024 /CNW/ - GR Silver Mining Ltd. ("GR Silver Mining" or the "Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce that the Company and a private, arm's-length Canadian company active in Mexico ("PrivateCo") have signed on June 27, 2024, a definitive and binding Share Purchase Agreement (the "Agreement") pursuant to which PrivateCo will acquire 100% of the issued and outstanding shares of Marlin Gold Mining Ltd. ("Marlin") from GR Silver Mining. Marlin is a private British Columbia company, 100% owned by GR Silver Mining. Marlin owns, amongst other assets, Oro Gold de Mexico, S.A. de C.V. ("Oro Gold"), a private Mexican company that owns 100% of nine non-core concessions ("Other Concessions"), including the past producing La Trinidad mine, located adjacent to GR Silver Mining's core Plomosas Project.
Figure 1: GR Silver Mining Plomosas Project mining concessions, Sinaloa, Mexico. (CNW Group/GR Silver Mining Ltd.)
Figure 2: San Marcial General Longitudinal Resource Area, View Southwest (CNW Group/GR Silver Mining Ltd.)
Pursuant to the Agreement, GR Silver Mining will transfer to PrivateCo all existing assets and rights, as well as all outstanding undertakings, covenants, indemnities and obligations, of Marlin and its subsidiaries, including Oro Gold, in consideration for which GR Silver Mining will receive a 0.5% NSR Royalty on the Other Concessions owned by Oro Gold (as shown in Figure 1) and a 10-year first right of refusal on any disposition of Other Concessions by PrivateCo. The transaction is expected to close within one month.
The disposition of Marlin and its subsidiaries allows GR Silver Mining to focus on resource growth and the potential development of the Company's core Plomosas Project (78 km2) (as shown in Figure 1), including the San Marcial, Plomosas Mine, and San Juan Areas. In addition, the Company continues to hold several non-core concessions (270 km2) (as shown in Figure 1).
CEO and Chair of GR Silver Mining, Eric Zaunscherb, commented, "It is our priority to increase the value of our Plomosas Project on behalf of our shareholders. This Agreement with PrivateCo will allow us to focus on our bulk sampling test mining program (news release, update dated June 27), as well as position the Company to resume resource drilling in the San Marcial area and advance technical studies. The Agreement eliminates most of the Company's working capital deficit without diminishing its resource inventory." Zaunscherb added, "GR Silver Mining's geological team has done an excellent job growing the Plomosas Project resource estimate significantly and cost effectively. The team has demonstrated the exploration model's efficacy with an exceptional hit rate, and we continue to be excited by the project's potential for further resource growth."
The Plomosas Project, including the San Marcial – Plomosas Mine - San Juan/La Colorada areas, hosts 55 million ounces of silver or 85 million ounces of silver equivalent in the Indicated category, and 22 million ounces silver or 45 million ounces of silver equivalent in the Inferred category. The full technical report dated May 3rd, 2023, with an effective date of March 15th, 2023, is entitled "Technical Report and Mineral Resource Update for the Plomosas Project". The report was prepared for GR Silver Mining Ltd. by Dr. Gilles Arseneau, P.Geo. of ARSENEAU Consulting Services Inc. and can be found under the Company issuer profile at SEDAR+.
In management's view, the San Marcial area represents an important focus for exploration given its silver-dominant mineralization (46 million ounces of silver in the Indicated Category and 14 million ounces of silver in the Inferred category), scalability, significant widths, and shallow depths, Figure2. Simultaneously, management intends to advance technical studies and permitting for San Marcial's potential development. Management continues to advance Bulk Sampling Trial Mining at the Plomosas Project, exploring low-cost alternatives to explore existing historical underground mines and define new areas for potential drilling and resource expansion.
Qualified Person
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, P. Geo., President & COO for GR Silver Mining, who has reviewed and approved its contents.
About GR Silver Mining Ltd.
GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the former Plomosas underground mine within the Plomosas Project, which includes the integrated San Marcial Area. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 78 km2 of highly prospective core concessions and an additional 270 km2 of non-core concessions.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair & CEO
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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 press release.
SOURCE GR Silver Mining Ltd.
For further information, please contact: Eric Zaunscherb, Telephone: +1.647.293.8457, Email: eric@grsilvermining.com
GR Silver Updates the Bulk Sampling Test Mining Program at the Plomosas Project
Sampling Returns 2.5 m @ 1,625 g/t Ag, 14.1 g/t Au in a New Geological Structure.
https://www.newswire.ca/news-releases/gr-silver-updates-the-bulk-sampling-test-mining-program-at-the-plomosas-project-866054464.html
GR Silver Mining Ltd. Jun 27, 2024, 07:30 ET
VANCOUVER, BC, June 27, 2024 /CNW/ - GR Silver Mining Ltd. ("GR Silver Mining" or the "Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE)
American Eagle Discovers Outcrop of Copper-Bearing Porphyry at Newly Defined IP Embayment Zone; Provides Drilling Update
https://www.newsfilecorp.com/release/215090
July 02, 2024 6:00 AM EDT | Source: American Eagle Gold Corp.
Highlights:
Field teams identified copper-bearing outcrop porphyry in the central part of the IP Embayment Zone, a previously undrilled and highly prospective area
The Company has intersected disseminated and vein hosted chalcopyrite mineralization at depth on the margins of the IP Embayment Zone, in Drill hole NAK24-19
IP Embayment Zone, in the southeastern area of the NAK project, will be elevated as a priority target for further exploration and drilling.
Toronto, Ontario--(Newsfile Corp. - July 2, 2024) - - July 2, 2024 - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF)
Independence Gold Intersects 17.00 Metres of 7.03 g/t Gold and 46.18 g/t Silver in the Tommy Vein System at the 3Ts Project, BC
https://www.newsfilecorp.com/release/214535
June 27, 2024 8:00 AM EDT | Source: Independence Gold Corp
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF)
KTN, IAU
Kootenay Silver aka KTN has been very successful drilling up the D Vein on their Columba Ag prospect in Chihuahua, Mexico, establishing long intercepts of high grade mineralization. Current drilling is focused on extending the D Vein, but now KTN has announced they are bringing in another drill.
Initially the second drill will focus on the B Vein, which has already yielded intercepts like 4.6m @ 1,186 g/t Ag and 2.0m @ 1,050 g/t Ag from 212 meters downhole. (True widths for both intercepts are estimated at 60-75% of core length.) This drill will work towards where the D and B Veins intersect, an area expected to deliver strong mineralization.
This drill will then move on to explore other veins on the property, and along with another 20km of drilling planned for H2, will feed into a Resource Estimate for Columba expected before the end of the year.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34714603
Nevada gold miner i-80 Gold aka IAU has been quiet of late, perhaps shocked by the decline in their share price to its lowest ever since the company was listed. Today, we hear some positive news about metallurgical testing of the various CRD deposits on their Ruby Hill and Golden Hill projects, some more dominated by lead and zinc, other higher in gold, some sulphide, some oxide, some mixed.
In spite of this variety, the testing was able to achieve high recoveries using a variety of flotation and cyanidation techniques, though more testing will be required to achieve a proper flowsheet for each deposit.
At the end of the PR, IAu drops a tidbit that it has been carrying out similar metallurgical testing with similar results as part of the due diligence aimed at establishing a proposed JV for the Ruby Hill property. They remain coy about who they are talking to, but tell us that negotiations are ongoing.
Meanwhile, the share price slide continues. It started with some over generous PPs, but the main factor appears to be EQX selling a large holding of IAU shares regardless of what it does to the share price. Equinox Gold has been very focused on raising funds of late, but eventually they will run out of IAU shares to sell and one assumes, the share price will start to recover. I do hopes it happens well before tax loss selling season can bring more downward pressure on IAU's share price.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34714623
New Destiny Mining Treasure Mountain Silver - Fully Permitted - Drilling & Trenching 2024 Exploration Program Underway Now
https://www.newsfilecorp.com/release/214775
June 28, 2024 9:00 AM EDT | Source: New Destiny Mining Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 28, 2024) - New Destiny Mining Corp. (TSXV: NED), (the "Company" or "NED") announces it is preparing to start the 2024 exploration program at its Treasure Mountain project, near Hope, BC.
Map showing Treasure Mountain property and targets for 2024.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5001/214775_8aedc5f6349ccbd2_001full.jpg
"We are excited to commence our 2024 exploration program at the Treasure Mountain project. With the recent repair of the access road and the promising results from our previous surveys, we are optimistic about uncovering significant mineral deposits. This year's focus on the Railroad, David, and Jim Kelly occurrences, along with our efforts at the Superior, Well, and Rio Grande targets, underscores our commitment to advancing this project and creating value for our shareholders," states Barry Brown, Director of New Destiny Mining Corp.
About Treasure Mountain Property
The Treasure Mountain property covers 10,819 hectares and is situated 38 km west of the Copper Mountain mine at Princeton in southern BC. Targets on the property include critical minerals in porphyry copper-moly deposits, and gold-quartz vein and polymetallic silver-rich vein deposits.
The property surrounds the former Treasure Mountain or Huldra silver mine and is fully permitted for exploration drilling and trenching. Exploration was curtailed due to a wash-out of the access road caused by the 2021 BC atmospheric river event, but the road has now been repaired. An airborne LIDAR survey was flown over the entire property to provide support for field exploration. An airborne magnetic survey is being considered this year to locate delineate porphyry-related source intrusions and outline magnetic anomalies related to mineralization.
About Treasure Mountain Exploration Program
The 2024 program will focus on the Railroad, David and Jim Kelly occurrences, with secondary attention directed to the Superior, Well and Rio Grande occurrences.
Railroad is copper-silver mineralized zone hosted in quartz sericite schist exposed in historic adits. The occurrence is spatially related to a regional magnetic survey anomaly that is interpreted to be a concealed porphyry intrusion. In 2019, a 1.7 metre wide sample across the zone returned values of 1.06% copper and 264 grams per tonne silver. The weighted average grades for consecutive mineralized samples over a 4.2 metre width are 0.64% copper and 116.0 ppm silver. Plans are to drill test the zone and to explore for a northern extension using soil geochemistry and ground geophysics.
Hand sample showing chalcopyrite-pyrite mineralization at the Railroad occurrence.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5001/214775_8aedc5f6349ccbd2_002full.jpg
Photo showing samples being collected over the alteration zone at Railroad.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5001/214775_8aedc5f6349ccbd2_003full.jpg
The David prospect was explored historically for porphyry-style copper mineralization. Mineralization consists of disseminated and fracture-filling pyrite, chalcopyrite and pyrrhotite, hosted by a chloritized diorite to hornblendite. Elevated nickel values are reported in association with the Main zone. In 1966, surface sampling of the Main zone yielded up to 0.20 per cent copper, 2.4 grams per tonne silver, and 0.31 per cent nickel over 29.26 metres. Diamond drilling in 1966 yielded intercepts of up to 0.56 per cent copper over 6.0 metres, 0.25 per cent copper over 9.0 metres in drill hole 3, and 0.12 per cent copper over 18 metres in drill hole 1, all from the Northwest zone. Plans for 2024 are to re-locate and sample the exposed showings and evaluate the potential for porphyry copper and nickel-copper sulphide mineralization.
Jim Kelly Creek is a gold vein target. A 2018 grab sample returned a result of 11.3 grams per tonne gold. Plans are to expose the vein by trenching and then test it by drilling. Geochemical surveys are also being planned.
Superior is a porphyry copper-molybdenum target. Copper-gold mineralization was identified in multiple quartz veinlets in 2019 trenches. Rock geochemical values for gold ranged up to 1.96 ppm, copper up to 250 ppm, and molybdenum up to 354 ppm. A grab sample of selected mineralized quartz contained 3.99 ppm gold, 96.8 ppm silver, 3560 ppm copper and 45.1 ppm molybdenum.
Superior was tested in 2019 by four short diamond drill holes that penetrated less than 30 meters depth. Quartz veinlets mineralized with pyrite and chalcopyrite were intersected. Analytical results showed elevated copper and molybdenum values, with copper ranging up to 833 ppm and molybdenum ranging up to 88.3 ppm. The source intrusion related to the copper-gold-molybdenum mineralization has yet to be identified.
The Well porphyry Cu-Mo target in the southeastern corner of the property consists of pyrite, chalcopyrite and molybdenite in quartz veins hosted within granodiorite of the Eagle Plutonic Complex. Mineralization is spatially associated with late stage differentiates, including pegmatite, aplite, microgranite and monzonite bodies. Previous surface samples yielded up to 3 wt.% Mo and average 0.5 wt.%. Historic samples from the Wel 11-12 and Wel 15-16 yielded 0.48 to 0.89 wt.% Cu, 5.2 to 36 g/t Ag, and 0.075 to 0.46 g/t Au. For 2024, Verification sampling will be done, and possibly trenching to expose and extend the known mineral occurrences.
The Rio Grande is a silver-rich polymetallic vein target with similarities to the nearby former Huldra silver mine. 2018 rock grab sample results ranged up to 122 grams per tonne silver, 0.4 % copper, 1.45% zinc and 0.24 grams per tonne gold (Assessment Report 37650). Plans are to collect representative channel samples and design follow-up trenching and drilling.
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Dr. Mathew Ball, P.Geo., a Qualified Person as defined by NI 43-101 and consultant to the Company, approved the technical information contained in this News Release.
ON BEHALF OF THE BOARD OF DIRECTORS
"Al Beaton"
Director604-488-3900
Lubica Parilakova
ir@NewDestinyMining.com
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5001/214775_8aedc5f6349ccbd2_004full.jpg
Forward-Looking Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, the Company's information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company 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 expressly required by applicable securities legislation.
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
SOURCE: New Destiny Mining Corp.
DLP Resources Intersects 66m of 0.42% Cu and 4.89g/t Ag Within a 202m Interval of 0.25% Cu and 2.93g/t Ag on the Aurora Project in Southern Peru
https://www.newsfilecorp.com/release/214248
June 25, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - June 25, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF)
Premier American Uranium Completes Acquisition of American Future Fuel
https://ca.finance.yahoo.com/news/premier-american-uranium-completes-acquisition-165500118.html
Premier American Uranium Inc
Thu, June 27, 2024 at 9:55 a.m. PDT·6 min read
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TORONTO, June 27, 2024 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR” or “Premier American Uranium”) (TSXV: PUR, OTCQB: PAUIF) and American Future Fuel Corporation (“AMPS” or “American Future Fuel”) (CSE: AMPS, OTCQB: AFFCF, FWB: K14, WKN: A3DQFB) are pleased to announce the completion of the previously announced arrangement (the “Arrangement”) whereby Premier American Uranium has acquired all of the issued and outstanding common shares of American Future Fuel (the “AMPS Shares”).
The Arrangement results in PUR acquiring 100% of the AMPS Shares and AMPS becoming a wholly owned subsidiary of PUR. Pursuant to the Arrangement, American Future Fuel shareholders (the “AMPS Shareholders”) received 0.170 of a common share of PUR (each whole share, a “PUR Share”) for each AMPS Share held. In aggregate, PUR issued 15,540,676 PUR Shares under the Arrangement.
In addition, each of the escrow release conditions in relation to PUR’s previously announced marketed private placement offering (the “Offering”) of 2,353,981 subscription receipts (the “Subscription Receipts”) for aggregate gross proceeds of $5,767,253 have been met. As a result, each outstanding Subscription Receipt has been converted into one unit of PUR (a “PUR Unit”) and the net proceeds from the Offering have been released from escrow. Each PUR Unit is comprised of one PUR Share and one-half of one common share purchase warrant of PUR (each whole warrant, a “Warrant”). Each whole Warrant entitles the holder to purchase a PUR Share at a price of C$3.50 until May 7, 2026. The Offering was led by cornerstone investors including Sachem Cove Partners LLC, IsoEnergy Ltd. and Mega Uranium Ltd. For additional information on the Offering, please refer to the news release of PUR dated May 7, 2024.
Colin Healey, CEO of PUR commented, “Completing the Arrangement with AMPS marks a pivotal step in executing our strategic vision to consolidate high-quality assets in the premier uranium districts of the US. We now have a strong foothold in three prominent districts known for their significant uranium endowment and potential: the Grants Mineral Belt in New Mexico, the Great Divide Basin in Wyoming and the Uravan Mineral Belt in Colorado. This year, we intend to launch two fully funded drill programs in two of these districts at our Cebolleta, NM, and Cyclone, WY, Projects and look forward to continuing to work to elevate our portfolio through further consolidation. We would like to extend our gratitude to our cornerstone investors for their continued support and welcome our new shareholders in this next phase of our growth.”
The AMPS Shares are expected to be delisted from the Canadian Securities Exchange at market close on June 27, 2024. PUR will cause AMPS to apply to the relevant Canadian securities regulatory authorities to cease to be a reporting issuer under applicable Canadian securities laws.
Board of Directors and Management
PUR’s board of directors (the “Company Board”) now consists of six directors, including Tim Rotolo as Chairman, Marty Tunney, Daniel Nauth, Michael Harrison, Michael Henrichsen and Jon Indall. The senior management team of PUR now includes Colin Healey as Chief Executive Officer, David Suda as President and Greg Duras as Chief Financial Officer. Full details of the Arrangement and certain other matters are set out in the management information circular of AMPS dated April 25, 2024, and can be found under AMPS’s issuer profile on SEDAR+ at www.sedarplus.ca. A copy of the early warning report of PUR in connection with its acquisition of the AMPS Shares will be filed under PUR’s issuer profile on SEDAR+ and can be obtained by contacting PUR as set out below.
Additional Information for Former AMPS Shareholders
Pursuant to the Arrangement, former AMPS Shareholders are entitled to receive 0.170 of a PUR Share for each AMPS Share held. In order to receive PUR Shares in exchange for AMPS Shares, former registered AMPS Shareholders must complete, sign, date and return (together with the certificate or DRS statement representing their AMPS shares) the letter of transmittal that was mailed to them prior to closing of the Arrangement. The letter of transmittal is also available under AMPS’ issuer profile on SEDAR+ at www.sedarplus.ca and by contacting Computershare Investor Services Inc., the depositary for the Arrangement, by telephone toll-free in North America at 1-800-564-6253 or by email at: corporateactions@computershare.com.
For those former AMPS Shareholders whose AMPS Shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their AMPS Shares and should follow the instructions of such intermediary or nominee.
In connection with closing of the Arrangement, PUR has paid Red Cloud Securities Inc. an advisory fee of $500,000, satisfied through the payment of $250,000 in cash and the issuance of 92,319 PUR Shares at a deemed price of $2.708 per PUR Share.
Corporate Update
The Company has entered into a Marketing Agreement with InvestingChannel Inc. (“InvestingChannel”), a New York-based company, for the purpose of providing various marketing services to the Company, effective June 12, 2024, for a period of one month. Under the terms of the Marketing Agreement, InvestingChannel’s services to the Company will include the creation and distribution of marketing of certain business content for the Company and PUR has agreed to pay InvestingChannel an up-front payment of US$75,000. InvestingChannel is at arm’s length to PUR and has no other relationship with PUR, except pursuant to the Marketing Agreement. To the knowledge of the Company, InvestingChannel and/or its affiliates do not hold PUR Shares. As of the date of this news release, the parties are in the initial onboarding stage.
About Premier American Uranium
Premier American Uranium Inc. is focused on the consolidation, exploration, and development of uranium projects in the United States. One of PUR’s key strengths is the extensive land holdings in three prominent uranium-producing regions in the United States: the Grants Mineral Belt of New Mexico, the Great Divide Basin of Wyoming and the Uravan Mineral Belt of Colorado. With a rich history of past production and historic uranium mineral resources, PUR has work programs underway to advance its portfolio.
Backed by Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd., and additional corporate and institutional investors, and an unparalleled team with U.S. uranium experience, PUR’s positioning in the market represents a compelling opportunity, as uranium fundamentals are currently the strongest they have been in more than a decade.
For More Information, Please Contact:
Premier American Uranium Inc.
Colin Healey, CEO
info@premierur.com
Toll-Free: 1-833-223-4673
Twitter: @PremierAUranium
www.premierur.com
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
None of the securities to be issued pursuant to the Offering or the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Any securities issuable in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to the expected timing for delisting of the AMPS Shares, expectations regarding the application for AMPS to cease to be a reporting issuer as well as PUR’s ongoing business plan, exploration and work program.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding expectations and assumptions concerning the Arrangement, and that general business and economic conditions will not change in a material adverse manner. Although PUR and AMPS have attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. Such statements represent the current views of PUR and AMPS with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by PUR and AMPS, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the TSX Venture Exchange not providing final approval to the Arrangement and all required matters related thereto; changes to PUR and/or AMPS’ current and future business plans and the strategic alternatives available thereto; and regulatory determinations and delays. Other factors which could materially affect such forward-looking information are described in the risk factors in PUR’s annual information form in respect of the year ended December 31, 2023 AMPS’ management information circular dated April 25, 2024 in connection with the Arrangement and in PUR and AMPS’ other filings with the Canadian securities regulators which are available under their respective profiles on SEDAR+ at www.sedarplus.ca. PUR and AMPS do not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Atomic Minerals Identifies Three Additional Uranium Targets at Bleasdell Lake
https://www.newsfilecorp.com/release/214544
June 27, 2024 7:30 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") (TSX Venture: ATOM) is pleased to announce Grander Exploration Ltd. ("Grander") has completed a review of the exploration database for its Bleasdell Lake Project ("Bleasdell Lake") and has identified three additional target zones in addition to the historic Horn and Jackpine zones. Bleasdell Lake is a pegmatite hosted uranium target in the NE corner of Saskatchewan.
Bleasdell Lake hosts a 1957 historic resource of 620,700 pounds of U3O8 contained within the Horn and Jackpine zones.
The 1957 Bleasdell Lake historic resource was disclosed in a shareholder report for Columbia Metals Exploration Co. Ltd. dated November 9, 1957 (the "Shareholder Report"). There is no technical report. The historic resource is relevant to the potential of the Bleasdell Lake property and is reliable as it was calculated to the standards of the day. The estimate was based on closely spaced shallow drill holes and more widely spaced deeper drill holes. The calculations, methods or parameters were not disclosed in the Shareholder Report. The resource would be comparable to a current inferred resource. There are no more recent estimates though subsequent geologists visited the Property in the 1960's and 1970's, confirming the showings and the drilling was completed. The Company will need to twin a significant number of the historic drill holes to upgrade or verify the historical estimate as current mineral resources.
A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Therefore, Atomic is not treating the historical estimate as a current mineral resource.
Atomic CEO Clive Massey commented: "Our technical team continues to utilize Grander Exploration's considerable Saskatchewan uranium experience and expertise as we review the available historical data for each of the 9 recently acquired northern Saskatchewan projects. The identification of three additional radioactive targets at Bleasdell Lake, including one over 1500 metres long, suggests considerable potential exists to not only bring the historic resource current, but also build upon it."
The Company is moving forward with permitting and plans to apply for a multi-year exploration permit from the Saskatchewan Government to conduct ground-based geophysics and diamond drilling exploration on the identified uranium drill targets at Bleasdell Lake.
Bleasdell Lake lies to the east of the Athabasca Basin, 95 kilometres southwest of Lynn Lake, Manitoba. Exploration in the late 1950's discovered two uranium bearing pegmatite dykes on the west shore of Bleasdell Lake. The 400 metre Horn Zone hosted zones of 90 metres of 0.12% U3O8 over 2.56 metres and 0.062% U3O8 over 1.21 metres, while drill width intersections over the entire 400 metre ranged from 0.091% U3O8 over 1.86 metres to 0.2025% U3O8 over 2.99 metres. There is little information on the Jackpine Zone located 450 metres along strike to the northwest. The sampling, trenching and diamond drilling defined a 1957 historic resource of 620,700 pounds of U3O8 contained within two zones.
A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Therefore, Atomic is not treating the historical estimate as a current mineral resource.
Grander's review indicates the target zones are pegmatitic, hosted in migmatites proximal to granitic intrusions and appear to be controlled by major NW faults (the Lamke Bay and Zaleschuk faults) which are intersected by the Bleasdale Lake fault. Of particular interest, the target zones, including Horn and Jackpine, lie within a magnetic low, suggesting the possibility of additional mineralization at depth.
The data disclosed in this news release are related to historical exploration and drilling results. Atomic has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Atomic considers these historical exploration and drill results relevant as the company is using these data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through sampling and drilling.
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
info@atomicminerals.ca
(604) 341-6870
Neither TSX Venture Exchange nor their 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 certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
###
SOURCE: Atomic Minerals Corp.
Aero Energy/Standard Uranium Prepare for Summer Drill Program at the Sun Dog Project near Uranium City
Sun Dog is host to globally significant former uranium producer
https://www.newsfilecorp.com/release/214542
June 27, 2024 7:30 AM EDT | Source: Standard Uranium Ltd.
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Standard Uranium Ltd. (TSXV: STND) (OTCQB: STTDF) (FSE: 9SU) ("Standard Uranium" or the "Company") is pleased to provide an update on 2024 exploration developments and plans at its Sun Dog Uranium Project ("Sun Dog", or the "Project"), currently under a three-year earn-in option agreement (the "Option") with Aero Energy Ltd. ("Aero") (TSXV: AERO) that was executed on October 20, 2023. A diamond drilling program funded by Aero targeting high-grade uranium is planned for summer 2024 to test several land-based targets across the Project, which will be operated by the Company.
Highlights:
Drill targets are being finalized following interpretation of the results from a VTEMTM Plus survey, which have been integrated with recently modeled resistivity and gravity datasets. Targets are being prioritized for the upcoming summer drill program following completion of drilling at the neighboring Murmac Project (Figure 1), operated by Fortune Bay Corporation ("Fortune Bay").
The recent VTEMTM Plus survey (April 2024) improves upon historical surveys which have identified at least 40 km of combined conductor strike length across the Project. Targets are focused on deformed graphitic rocks (conductors) favourable for hosting significant concentrations of uranium, akin to those hosting the recent discovery at Murmac along strike from Sun Dog, returning 8.7 metres of anomalous radioactivity with a maximum of 33,600 counts-per-second ("cps") announced June 25, 2024.
The Company has recently received a three-year exploration permit for the Project covering the entire Option term with Aero, in addition to holding an Exploration Agreement with the Ya' Thi Néné Lands and Resources on the Project. All key vendors have been secured for the program, including Team Drilling LP, whose crews currently working on Murmac will transition to drilling the Sun Dog Project.
Numerous historical high-grade* uranium showings ranging between 0.10% and 17.4% U3O8 have been documented at surface3,4 on the Project. These showings occur in both basement rocks and perched within Athabasca sandstones above the Unconformity. Targets will focus on both basement-hosted and unconformity-related uranium mineralization.
The project hosts the historical Gunnar Mine which produced 18M pounds of U3O8 between 1953 and 1981 and was formerly the world's largest uranium producer1,2.
Jon Bey, CEO of Standard Uranium, commented: "We are excited to get back to Uranium City and begin our follow up exploration and drilling at our Sun Dog project. We have been advancing this Project for two years and recently added additional geophysical data to assist with our drill targeting. I would also like to congratulate our partners at Aero Energy and Fortune Bay for their discovery this week on their second hole of their Murmac drill program."
Figure 1. High-grade uranium occurrences and EM-conductors present on the Sun Dog Project, including the recent discovery hole (M24-017) along strike on Fortune Bay's Murmac Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10633/214542_8cb4a9ab049788dc_003full.jpg
About the Sun Dog Project
Sun Dog covers an area of 48,443 acres in nine mining claims, located 15 km from Uranium City on the northern margin of the Athabasca Basin. It hosts the historical Gunnar Uranium Mine, discovered in 1952, which doubled Canada's uranium production and became the largest uranium producer globally in 1956. The Gunnar Mine produced approximately 18M lbs of U3O8 between 1953 and 19811,2.
During this time exploration efforts in the area primarily focused on "Beaverlodge-style" deposits, typically lower-grade, fault-hosted mineralization visible at the surface. This approach did not target, and would not have been effective for, the high-grade "Unconformity-related" basement-hosted deposits associated with graphitic rocks more recently discovered near the Athabasca Basin's edge (e.g. Arrow, Triple R).
These deposits are associated with graphite-rich rocks, evident as electromagnetic (EM) conductors in geophysical surveys. These graphite-rich rocks, softer than surrounding quartzite and granitoid lithologies, are not exposed at the surface. Instead, they are found in deeply weathered valleys, concealed by glacial till, soil and small lakes. The historical exploration methods applied included airborne radiometric and surface prospecting, identifying radioactive anomalies and drill testing their extents. This approach is not effective for this type of basement-hosted mineralization.
Several gravity-low and resistivity-low anomalies have been identified and coincide with breaks or flexures in electromagnetic conductors, interpreted to potentially represent zones of strong alteration in bedrock, specifically clay alteration, commonly associated with the footprint of high-grade uranium deposits. With only limited previous drilling, the extensive (>40 km strike length) conductors targeted at Sun Dog remain largely unexplored, offering significant potential for future discovery (Figure 1).
*The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be "high-grade".
** The Company considers radioactivity readings greater than 300 counts per second (cps) to be "anomalous".
***Natural gamma radiation in diamond drill core reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer and verified using a down-hole Mount Sopris 32GR slim gamma probe. The 32GR gamma probe has been calibrated to optimize the probe for uranium exploration logging and estimating weight percent U3O8 content. Readers are cautioned that scintillometer and gamma probe readings are not uniformly or directly related to uranium grades of the rock sample measured and should be treated only as a preliminary indication of the presence of radioactive minerals. All drill hole intersections are measured down-hole. Core interval measurements and true thicknesses are yet to be determined.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a "qualified person" as defined in NI 43-101.
Historical data disclosed in this news release relating to sampling results on the Sun Dog Project is historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company's future exploration work will include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of the Project.
About Standard Uranium (TSXV: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world's richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.
Standard Uranium's Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium's eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
References
Gunnar Uranium Mine: From Cold War Darling to Ghost Town, L. Schramm, Saskatchewan Research Council, 2018.
Geology and Genesis of Major World Hardrock Uranium Deposits, United States Geological Survey, Open-File Report 81-166, 1981.
2022 Winter Mineral Assessment Report, Sun Dog Property, Northern Saskatchewan, Canada, Standard Uranium, 2022
Information obtained from Saskatchewan Mineral Deposit Index and historical report from Uranium City Resources, 2007
Cautionary Statement Regarding Forward-Looking Statements
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company's exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. 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. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the "Risks and Uncertainties" in the Company's management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company's actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company's ability to raise additional capital if and when necessary; volatility in the market price of the Company's securities; future sales of the Company's securities; the Company's ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company's mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking 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.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Standard Uranium Ltd.
American Lithium Announces Strong Progress on Falchani Flow Sheet Optimization and Intent to Commence Pilot Work During H2 2024
https://ca.finance.yahoo.com/news/american-lithium-announces-strong-progress-110000393.html
American Lithium Corp.
Thu, June 27, 2024 at 4:00 a.m. PDT·5 min read
AMLI
+2.43%
VANCOUVER, British Columbia, June 27, 2024 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) is pleased to provide an update on the optimization of the Falchani processing flow-sheet. This update is based on recently completed, and ongoing, test work at Australian Nuclear Science and Technology Organization Laboratories in Sydney, Australia (“ANSTO”) in conjunction with TECMMINE in Lima, Peru (“TECMMINE”).
The unique volcanic style of lithium mineralization at Falchani, combined with low impurity content allows its flow-sheet to resemble more conventional mining / processing flow-sheets versus most hardrock lithium projects where concentrates are produced and then shipped elsewhere for further refining into higher quality products. Falchani’s flow-sheet utilizes warm sulfuric acid leaching and impurity removal steps to produce a high purity lithium carbonate (“LC”) end product on site with purity in excess of 99.5%, typically the threshold for battery grade LC. This helps drive the robust economics, particularly the low operating costs, highlighted in the Company’s original and recently updated Preliminary Economic Assessments (“PEA’s”). There is no need for additional refining steps offshore.
The Company believes it can further reduce acid consumption and reagent costs and optimize the production of LC as well as highly economic / strategic by-products by implementing a number of additional tried and tested hydrometallurgical processing steps into the core flow-sheet. This work has yielded strong results, and the Company currently intends to commence piloting work for its Falchani Project during H2, 2024.
HIGHLIGHTS FROM LATEST TEST WORK ON FALCHANI FLOW-SHEET:
Reduction of sulfuric acid consumption by approximately 50% from 480-500 kg per tonne (“kg/t”) (February 2024 PEA), down to 240 kg/t processed by utilizing counter-current leaching and simple recycling of acid-containing streams coupled with leach optimization.
Reduced acid consumption / recycling also has the implication of considerably reducing reagent requirements during final waste neutralization, which positively impacts the projected operating costs further.
Potential to further simplify the flow-sheet by employing Solvent Extraction (“SX”):
Initial testing with SX has demonstrated potential to separate even higher purity lithium at an earlier stage with the rejection of key impurities;
SX may remove several processing steps from the flow-sheet leading to reduced capex and lower reagent consumption; and
ANSTO continues to refine / optimize the potential use of SX in the Falchani flow-sheet.
At $5,092/t LC, current projected operating costs for Falchani (February 2024 PEA) are already amongst the lowest globally
Recent improvements / optimization steps and the introduction of higher quality by-products should materially reduce costs further.
Continued improvement in the specification of key by-products;
Sulfate of Potash (“KSOP”) recovery has been optimized and meets the parameters of producers and traders of potassium (“K”)-based fertilizers;
Approximately 40% of the K available in Falchani’s Lithium mineralization can be recovered as high-quality KSOP;
Concentration of Cesium Sulfate (“Cs”) has improved to approximately 20% Cs content, the threshold at which it would become a commercially viable by-product.
TECMMINE has recently run numerous additional full cycle tests on the existing “lithium-only” flow-sheet and continues to produce high purity LC with purities between 99.50% – 99.87% LC.
Simon Clarke, CEO of American Lithium stated: “We are very excited about recent flow-sheet work in which we continue to produce high purity LC exceeding battery grade thresholds in repeated full-cycle tests giving us confidence to start piloting later this year. Recent work focusing on counter-current leaching and SX has been extremely positive not only for producing high-quality by-products with strong strategic and economic value but also for optimization and material cost reduction. We will continue to refine these additions to the flow-sheet with ANSTO and TECMMINE with the goal of also introducing them into our pilot work at the appropriate time.”
Qualified Person
Mr. Ted O’Connor, P.Geo., a Director of American Lithium, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About ANSTO Minerals
ANSTO Minerals is an international mining consultancy group located in Sydney, Australia, with an experienced team of 60+ engineers, metallurgists, chemists, and scientists who have been providing consulting services and process development services to the mining and minerals processing industries for well over 35 years. ANSTO Minerals has world-leading expertise in uranium ore processing, rare earth processing, zirconium/niobium/hafnium processing, base metals processing, lithium processing (brines and hardrock), and radioactivity control and management.
About TECCMINE
TECMMINE E.I.R.L. is a Peruvian metallurgical consulting company based in Lima, Peru with mineral processing and metallurgical testing laboratory facilities and experienced metallurgical personnel led by Eng. Jose Malqui.
About American Lithium
American Lithium is actively engaged in the development of large-scale lithium projects within mining-friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to the new energy paradigm through the continued development of its strategically located TLC lithium project (“TLC”) in the richly mineralized Esmeralda lithium district in Nevada, as well as continuing to advance its Falchani lithium (“Falchani”) and Macusani uranium (“Macusani”) development-stage projects in southeastern Peru. All three projects, TLC, Falchani and Macusani have been through robust preliminary economic assessments, exhibit strong significant expansion potential and enjoy strong community support.
For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com.
Follow us on Facebook, Twitter and LinkedIn.
On behalf of the Board of Directors of American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
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 press release.
Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the business plans, expectations and objectives of American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management and are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to achieve its stated goals;, which could have a material adverse impact on many aspects of American Lithium’s businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium’s shares and could negatively affect American Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on May 29, 2024, and in recent securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
Cautionary Note Regarding 32 Concessions
Thirty-two of the one-hundred-seventy-four concessions comprising the Falchani and Macusani Projects are currently subject to Administrative and Judicial processes in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared title to thirty-two concessions invalid due to late receipt of the annual validity payments. On November 2, 2021, American Lithium was awarded a favorable ruling in regard to title to the concessions, but on November 26, 2021, appeals of the judicial ruling were lodged by INGEMMET and MINEM. A three-judge tribunal of Peru’s Superior Court unanimously upheld the ruling in a decision reported in November 2023. American Lithium was subsequently notified that INGEMMET and MINEM have filed petitions to the Supreme Court of Peru to assume jurisdiction in the proceedings. Given the precedent of the original ruling it is hoped that the Supreme Court will not assume jurisdiction; however, there is no assurance of the outcome at this time.
CMC Metals Acquires an 80% Interest in the Blue Heaven Property, Yukon, Canada
https://www.accesswire.com/882345/cmc-metals-ltd-acquires-an-80-interest-in-the-blue-heaven-property-yukon-canada
Thursday, 27 June 2024 08:00 AM
VANCOUVER, BC / ACCESSWIRE / June 27, 2024 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to announce that the Company has completed the final payment on the Blue Heaven Property with the optionor Strategic Metals Ltd. ("Strategic") and as a result is now an 80% owner of the Property. The original final payment of the option agreement was amended and subsequently a payment of 5,000,000 common shares at a deemed price of $0.03 per share, with a four month hold period, was provided to Strategic as the final payment for the Property.
The Blue Heaven Property comprises of 118 claims (1,975 hectares) that are contiguous to the Company's Silver Hart Project in south-central Yukon. Blue Heaven is characterized with 13 mineralized areas and 36 showings many of which are yet to be evaluated by the Company. A brief program in 2022 extended previous trenching at the Desire Showing (subsequently renamed as the Golden Cross Zone) with highly positive results including:
8.0 meters grading 13.39% lead, 1.57% zinc, 359.25 g/t silver and 1.17% manganese including 1.0 meter of 10% lead, 5.1% zinc, 1,500 g/t silver and 2.3% manganese
13.0 meters grading 8.25% lead, 4.22% zinc, 151.57 g/t silver and 9.16% manganese including 1.0 meter of 23.86% lead, 0.9% zinc, 623 g/t silver and 2.3% manganese
A 14.0 meter mineralized area including 1.0 meter samples containing:
3.61% lead, 3.1% zinc, 199 g/t silver, 12.6% manganese
10% lead, 2.5% zinc, 360 g/t silver and 3.7% manganese
10% lead, 8.5% zinc, 459 g/t silver, and 1.6% manganese
Several other 1.0 meter length individual samples containing:
49.8% lead, 3.7% zinc, 857 g/t silver and 5.7% manganese
13.4% lead, 5.6% zinc, 167 g/t silver and 10.5% manganese
59.46% lead, 1.8% zinc, 1,076 g/t silver and 3.2% manganese
21.01% lead, 1.1% zinc, 820 g/t silver and 1.4% manganese
16.53% lead, 0.3% zinc, 425 g/t silver and 0.7% manganese
64.56% lead, 5.6% zinc, >1,500g/t silver and 2.3% manganese
29.26% lead, 0.7% zinc, 1,295 g/t silver and 0.5% manganese
These preliminary results demonstrate the potential for stacked manto sequences but require a lot more investigation to be conclusive in this regard. The area around the Golden Cross Zone is also characterized by several outcrops with extensive manganese which has been found to be indicative of silver-lead-zinc CRD-style mineralization on the Silver Hart property. These areas will be further evaluated with trenching and detailed mapping once an exploration permit has been secured for the property
In addition, a bulk sample collected by Nordac Resources Ltd. in 1999 from the Blue and H zones by comprised of 51.47 dry tonnes grading 8,563 g/t silver, 56.2% lead, 9.5% zinc and 1.2 g/t gold. Also, a recent in-depth analysis completed by Ronacher-McKenzie Geosciences on the 2021 SkyTEM airborne electromagnetic survey identified four areas of exploration prospectivity that were deemed to merit detailed evaluation.
A permit application including a renewal for exploration at Silver Hart and proposed exploration activities at Blue Heaven has been submitted and accepted for review by the Yukon Environmental and Assessment Board.
Mr. Kevin Brewer, P.Geo. and President and CEO of the Company noted that "The Golden Zone area, four new areas of exploration prospectivity, and the numerous showings on the Blue Heaven Property indicate significant exploration potential. Combined with the neighboring Silver Hart claims, CMC now has secured a significant interest on over four kilometers of a prospective carbonate belt that is an excellent target for skarn, vein and carbonate replacement high grade silver-lead-zinc mineralization."
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (Yukon), Amy and Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon).
On behalf of the Board:
"John Bossio"
John Bossio, Chairman
CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (+52) 669 198 8503
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
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.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company 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 expressly required by applicable securities legislation."
SOURCE: CMC Metals Ltd.
Stallion Uranium Outlines 5 Conductive Trends as Key Target Areas on Sandy Lake Uranium Project
https://ca.finance.yahoo.com/news/stallion-uranium-outlines-5-conductive-103000864.html
Stallion Uranium Corp.
Thu, June 27, 2024 at 3:30 a.m. PDT·4 min read
STLNF
0.00%
SASKF
-2.33%
VANCOUVER, British Columbia, June 27, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to announce the preliminary results from the completion of a MobileMT™ airborne geophysical survey (the “Survey”) on its 100% owned Sandy Lake Project (the “Project”). The project is roughly 11km west of Shea Creek and the Cluff Lake Mine in the prolific Southwestern Athabasca Basin, in northern Saskatchewan.
Highlights
27 kms of basement conductive trends have been outlined.
Large multi-kilometer conductive trends coincide with basement structures interpreted to be similar to structures at Shea Creek and Cluff Lake
Project advancing towards drill readiness with defined target areas
Follow-up will include ground geophysics to refine targets in advance of drill testing
“The completion of this survey has identified compelling target areas at Sandy Lake and takes the project another step closer to drill readiness,” said Stallion CEO, Drew Zimmerman. “With geological features similar to the nearby Shea Creek and Cluff Lake Mine, Sandy Lake is becoming a top tier project with major discovery potential.”
Stallion’s 100% Owned Sandy Lake Mobile MT Survey Results
Figure 1 – Stallion’s 100% Owned Sandy Lake Mobile MT Survey Results
Darren Slugoski, VP of Exploration said, “The comprehensive MobileMT™ survey was able to identify and prioritize five discrete conductive trends which will be the target of the next phase of exploration. The survey gives Stallion the additional detail and resolution needed to interpret the geological features known to host uranium mineralization.”
Results
Convolutions Geoscience was contracted to complete an interpretation of the 2024 AFMAG results collected by Expert Geophysics. The results of the survey identified five discrete conductive trends (Figure 1) label SL1 to SL5. The conductors are oriented in three dominant directions with conductors SL1, SL3 and SL4 trending NW-SE, conductor SL2 is trending east-west and conductor SL5 is trending north-south.
The SL1, SL3 and SL4 represent conductive corridors that occur sub-parallel to the Saskatoon Lake conductive trend which hosts the Shea Creek Deposits only 11km to the east. SL1 & SL3 conductor corridors are located above and below the unconformity model surface, indicating that the sandstone may have been breached. SL2 and SL4 are interpreted to lie at and below the unconformity. The data further indicates that some of the conducive anomalies are consistent with ring and radial structures from the Carswell impact nearby. SL5 is interpreted to occur deeper in the basement than the other conductors. The interactions with the regional conductors and the radial Carswell structures are compelling targets as they could create locations necessary to trap and concentrate uranium bearing fluids.
The survey was able to identify structural complexities, including bends and splays, in the basement geology which suggest further favorable conditions for uranium mineralization. These results will be used to prioritize the newly identified conductor corridors for the next stages of exploration.
Survey Objectives
Expert Geophysics Ltd. (“Expert”) completed 190 line-kilometres of MobileMT™ covering the entirety of the Sandy Lake Project in the Southwestern Athabasca Basin. The purpose of the survey was mapping bedrock structure and lithology, including possible alteration and mineralization zones by observing apparent conductivity corresponding to different frequencies and inverting the EM data obtains the distribution of resistivity with depth. Using the VLF EM and magnetic data to study properties of the bedrock units to gain additional information for identifying target area prioritization to advance exploration.
Next Steps
Stallion has clearly outlined 5 priority trends that feature additional geophysical anomalies known to be associated with uranium mineralization in the area. This new data continues to check all the boxes that warrant further exploration with a ground electromagnetic survey. The ground survey would cover the SL1 and SL2 conductive corridors to identify the top locations for drilling on each trend.
Qualifying Statement
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.
About Stallion Uranium
Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy (TSX-V: SASK), holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
info@stallionuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3274060d-84d4-4881-92f2-52e90ecf23bb
Grizzly Targets the Motherlode Crown Grants in the Greenwood District Precious and Battery Metals Project, BC
https://www.newsfilecorp.com/release/214278
June 25, 2024 9:00 AM EDT | Source: Grizzly Discoveries Inc.
Edmonton, Alberta--(Newsfile Corp. - June 25, 2024) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to provide some highlights of historical information on the Motherlode Crown Grants for which the Company entered a purchase agreement with First Majestic Silver Corp on June 12, 2024, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that, at various times during the early and middle 1900's, produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings (Figures 1 & 2). The Motherlode Crown Grants comprise 13 Crown Grants for a total of 300 acres (121.4 ha) that all retain the subsurface mineral rights and date back to the late 1800's when they were granted. The Crown Grants take precedence over normal mineral titles mineral claims. The Crown Grants cover a number of historical mines, including the Motherlode that produced 76,975,111 pounds of Cu, 173,319 ounces (oz) of Au and 688,203 oz of Ag during the active periods of mining from 1900 to 1920 and from 1957 to 1962. The Motherlode skarn mineralization is developed in Triassic Brooklyn Formation sediments (BC Minfile 082ESE034). The Motherlode Mine is road accessible approximately 2.5 km northwest of the town of Greenwood (Figure 1).
Highlights
Drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources intersected several zones of Cu-Au mineralization targeting the gold bearing halo to the Motherlode Skarn along the east side of the pit in the vicinity of the historical underground workings (Figures 2 and 3).
Drillhole 96-8 encountered gold in almost every sample including a weighted average grade of 0.23 grams per tonne (g/t) Au over the entire 154.23 m (506 ft) length drillhole with a number of higher grade zones in proper skarn towards the bottom of the hole (Figure 3).
The Main Motherlode skarn was intersected at the bottom of the drillhole and returned 2.5 g/t (0.073 oz per ton [opt]) over 4.88 m (16 ft) at the end of the drillhole from skarnified Brooklyn limestone, that is associated with a strong AeroTEM conductivity anomaly (Figure 2).
The drillhole collared in Brooklyn Sharpstone conglomerate and drilled through alternating skarn an altered diorites along the length of the drillhole, with the main zone at the end of the hole characterized by increased quartz-carbonate-chalcopyrite veining and volumetric chalcopyrite.
The hole was ended due to technical difficulties. Strathcona Mineral Services recommended follow-up drilling which has never been completed.
A drillhole completed on the Great Hopes Crown Grant in 1993 by Orvana Minerals intersected 3.30 g/t (0.096 opt) Au over 25 ft (7.62 m) near surface in faulted sediments beside the Greyhound fault zone with a core zone of 6.69 g/t (0.195 opt) Au over 10 ft (3.05 m) (Figure 2).
Follow-up drilling in 1996 was focused on IP chargeability anomalies and struggled with core recovery in the fault zone - so the zone intersected has not been properly follow-up tested.
Brian Testo, President and CEO of Grizzly Discoveries, stated, "We are excited to complete the acquisition of the historical Motherlode Crown Grants and the targets that they provide. We look forward to aggressive 2024 drilling at the Motherlode area and other high grade Au-Ag-Cu showings and historical mines along with additional exploration for battery metals in our current 170,000+ acre holdings in the Greenwood District."
Figure 1: Land position and targets of interest for future exploration, Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/214278_973f5d9534c88b70_002full.jpg
Figure 2: Motherlode Crown Grants, Historical Drilling and AeroTEM Survey Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/214278_973f5d9534c88b70_003full.jpg
Figure 3: Motherlode Historical Drillhole ML96-8 Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/214278_973f5d9534c88b70_004full.jpg
Summary of the Motherlode Crown Grant Purchase Terms
The Company will cover all costs related to the transfer of the Crown Grants from First Majestic to the Company.
As consideration, Grizzly will issue First Majestic 250,000 common shares of the Company (the "Compensation Shares") upon closing of the transaction.
At closing, the Company will grant a 1% Net Smelter Return (NSR) Royalty on the Crown Grants to First Majestic and retains an option to purchase the NSR Royalty for $250,000 at any time.
The issuance of the Compensation Shares is subject to the acceptance of the TSX Venture Exchange.
The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available under the Company's SEDAR+ profile at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
SOURCE: Grizzly Discoveries Inc.
Cerro de Pasco Resources Completes Payment for Critical Easement, Mobilizes Drilling Program and Prepares Financing
https://ca.finance.yahoo.com/news/cerro-pasco-resources-completes-payment-123000038.html
Cerro de Pasco Resources
Thu, June 27, 2024 at 5:30 a.m. PDT·9 min read
GPPRF
+5.77%
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
MONTRÉAL, June 27, 2024 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE:CDPR) (OTCPK: GPPRF) (FRA: N8HP) (“CDPR” or the “Company”) is pleased to inform that, following the publication of the Supreme Resolution on May 24, 2024, which granted CDPR the landmark Legal Easement, the Company has now completed the formalities related to the administrative procedure and is on track to start drilling in the coming weeks.
Formalities have included the payment of approximately US$ 1 million into the Peruvian National Bank on May 29, 2024, and formal signing of the minutes of the Easement Agreement on June 24, 2024, between CDPR and Activos Mineros (AMSAC), with the participation of the General Directorate of Mining (Ministry of Energy and Mines).
The Legal Easement enables the Company to meet conditions required to proceed with engineering studies and a 40-hole drilling program at its Quiulacocha Tailings Project (“QT Project”), with the objective of producing a master plan for reprocessing the entire Quiulacocha tailings resource.
Guy Goulet, CEO: “We are excited to commence on-site studies. Our preferred contractors are signed up and prepared to begin. Our application has undergone rigorous scrutiny, and the merits of our project, including economic, environmental, and social benefits, now speak for themselves.”
Next Steps
The drilling program will encompass geophysical studies, laboratory testing, mineralogy testing, resource estimation, and economic assessment. Its objective is to complete a Preliminary Economic Assessment (PEA) and submit a resource report compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The Company plans to subsequently undertake a feasibility study for the Quiulacocha Project.
Site induction is currently underway to prepare for geophysical studies, and the Company aims to commence drilling activities in late July. Additionally, the Company has engaged All North as the independent qualified professional consulting firm for engineering and preparation of the NI 43-101 compliant technical report.
Concurrently with the drilling and PEA activities, CDPR has initiated the process to obtain additional authorization from the Ministry of Energy and Mines, necessary to access the area outside the El Metalurgista concession. It will allow for the completion of a comprehensive feasibility study and the application for approval to develop the extraction project for the entire Quiulacocha Tailings Storage Facility Site.
The Supreme Resolution
The Supreme Resolution was signed by the President of Peru on May 23, 2024, following an exhaustive process and endorsement by the ministries of Energy & Mines, Agriculture, and Housing & Construction. The process also included two separate rulings in support of the Legal Easement by the autonomous Mining Council.
The Quiulacocha Tailings
CDPR is the titleholder of the concession located in Peru called “El Metalurgista”, which grants it the right to explore and exploit the Quiulacocha Tailings located within its assigned area. The enforceability of these rights has been formally confirmed by the General Mining Bureau of Peruvian Ministry of Energy and Mines.
The Quiulacocha Tailings Storage Facility covers approximately 115 hectares and is estimated to hold approximately 75 million tonnes of material processed from the 1920s to 1990s.
The Quiulacocha Tailings Storage Facility is comprised of processing residues that came from the Cerro de Pasco open pit and underground mine. Noteworthy reports indicate an estimated 458 million ounces of silver equivalent across silver, zinc, copper, lead and gold within the tailings, in addition there is evidence of additional valuable metals such as germanium, tellurium, indium, and gallium.
Initially these tailings resulted from the mining 16+ million tonnes of copper-silver-gold mineralization with reported historical grades of up to 10% Cu, 4 g/t Au and over 300 g/t Ag and later from the mining of 58+ million tonnes of zinc-lead-silver mineralized material with average historical grades of 7.41% Zn, 2.77% Pb and 90.33 g/t Ag.
With minimal mining costs due to surface-level material and current reprocessing capacity at adjacent plants, CDPR's Quiulacocha Project stands out as one of Peru's key mining initiatives. This endeavor not only promises economic benefits but also aims to restore the environment and create employment opportunities, aligning with the local community's needs.
Private Placement Offering of Common Share Units
The Company is pleased to announce its intention to complete a non-brokered private placement offering (the “Offering”) of up to 20,000,000 units of the Company (the "Units") at a price of $0.10 per Unit for aggregate gross proceeds of up to $2,000,000. Each Unit will be comprised of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.15 per share for a period of 24 months from the closing date of the Offering (the “Closing Date”).
In the event that, during the period following 24 months from the Closing Date, the volume-weighted average trading price of the Common Shares exceeds $0.60 per Common Share for any period of 20 consecutive trading days, the Company may, at its option, following such 20-day period, accelerate the expiry date of the Warrants by delivery of notice to the registered holders (an "Acceleration Notice") thereof and issuing a press release (a "Warrant Acceleration Press Release", and, in such case, the expiry date of the Warrants shall be deemed to be 5:00 p.m. (Montreal time) on the 30th day following the later of (i) the date on which the Acceleration Notice is sent to Warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release.
A finder's fee might be paid on the Offering, subject to the policies of the Canadian Securities Exchange ("CSE").
The net proceeds from the Offering will be used for working capital.
All securities issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
The securities to be issued under the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933 as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, these securities may not be offered or sold, pledged or otherwise transferred within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the U.S., nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Engagement of Peak Investor Marketing
The Company is pleased to announce that it has retained the services of Peak Investor Marketing Corp. (www.peakinvestormarketing.com) (“Peak”) to provide marketing services to the Company for an initial 12-month term (the “Initial Term”). Peak is a Vancouver-based full-service marketing and consulting firm focused on the junior mining sector. Peak is an independent arm’s-length entity and will assist Cerro De Pasco Resources with marketing strategy and planning, corporate communications and public relations, with the goal of increasing market awareness for the Company. Under the terms of the agreement, the Company will pay Peak a monthly fee of $12,000 (plus taxes), payable on the last day of each month. After the Initial Term, Peak will continue providing these services in consideration for a monthly fee of $ 12,000 (inclusive of taxes) payable on the first day of each month, subject to termination by either party on 30 days’ prior written notice.
Technical Information
Mr. Jorge Lozano, MMSAQP and Chief Operating Officer for CDPR, has reviewed and approved the scientific and technical information contained in this news release. Mr. Lozano is a Qualified Person for the purposes of reporting in compliance with NI 43-101.
About Cerro de Pasco Resources
Cerro de Pasco Resources is a mining company, with the goal to become the next mid-tier producer in Peru. CDPR is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising mineral tailings and stockpiles extracted from the Cerro de Pasco open pit mine in Central Peru. The company’s approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and the creation of numerous opportunities in a circular economy. CDPR is also focused on mining, development, and exploration of its wholly owned 6,000-hectare Santander Mine in the highly prospective Antamina-Yauricocha Skarn Corridor, located 215 km from Lima. CDPR is founded on clear objectives, to engender long-term economic sustainability and benefit for the local population, from an economic, social and health point of view.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions.
Forward-looking statements, including the expectations of CDPR’s management regarding the realization, timing and scope of its drilling program, the completion of a resource report as well as the business and the expansion and growth of CDPR’s operations, are based on CDPR’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CDPR to be materially different from those expressed or implied by such forward-looking statements or forward-looking information.
Forward-looking statements are subject to business and economic factors and uncertainties and other factors, that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in CDPR’s public documents, available on SEDAR+ at www.sedarplus.ca. 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. Although CDPR believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements and forward-looking information. Except where required by applicable law, CDPR disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Further Information
Guy Goulet, CEO
Telephone: +1-579-476-7000
Mobile: +1-514-294-7000
ggoulet@pascoresources.com
Hertz Energy Plans "Spin Out" of Uranium Assets to Independent Stand-Alone Company
https://www.newsfilecorp.com/release/214577
June 27, 2024 1:47 AM EDT | Source: Hertz Energy Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Hertz Energy Inc. (CSE: HZ) ("Hertz Energy" or the "Company"). Further to the Company news release of June 4, 2024, Hertz Energy is pleased to announce that after a review by the Company along with its board and advisors, it has made the decision to pursue a reorganization of its Cominco Uranium Project in Nunavut, Canada and its Namibian Uranium Exclusive Prospecting License Applications (the "Uranium Assets") into a stand-alone entity to be named Hertz Uranium (the "Spin-Out").
The Company views the Spin-Out into a stand-alone vehicle as the preferred route to generate value for Hertz Energy and its shareholders from the continued development of the Uranium Assets.
The re-structuring of the Uranium Assets ownership is well advanced, and the Company anticipates being in a position to finalize the terms of the Transaction in the coming months.
Hertz Energy believes that its current share price does not fully recognize the value of the Uranium Assets and that by structuring an appropriate "spin-out" into an independent, uranium focused vehicle, the Company and its shareholders will benefit from unlocking the value of this project. Additionally, this will allow Hertz Energy to concentrate its efforts on advancing its premier lithium projects, AC/DC and Snake Lithium, located in the emerging "lithium district" in James Bay, Quebec, Canada.
Nuclear energy is experiencing a renaissance and uranium prices have had a big year, up over 52% year to date. Uranium is considered the cleanest, most cost-effective and reliable form of 24/7 dispatchable energy. Accordingly, the world's premier uranium deposits are attracting more and more global interest.
HIGHLIGHTS OF THE URANIUM ASSETS
Cominco Uranium Project, Nunavut, Canada
The Cominco Uranium Property ("Cominco Property") is focused on two main historically documented uranium showings of interest, the Pomie and the Yon showings. The Pomie and Yon showings were both explored in the mid 1970s by Cominco and Noranda and no work using modern exploration technologies has taken place since this time.
The Cominco Property claim blocks now cover approximately 5,192 hectares.
Previous regional work in the area by the Geological Survey of Canada (GSC) identified mineral potential for uranium in the area (Roscoe, 1984), based on the presence of the above showings and favourable stratigraphy for the formation of Unconformity Related Uranium (URU) deposits, similar to the stratigraphy found in the Athabasca and Thelon basins.
Figure 1: Map of historical drill hole results on Cominco Property, Nunavut
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/214577_1efd48a29444a908_001full.jpg
The Cominco Uranium Property contains the Pomie showing trenched and drilled by Cominco between 1976 and 1977. Cominco's exploration succeeded in outlining the major structural and petrological aspects of the Pomie showing. The most significant discovery was the large carbonate breccia body, which trends parallel to a probable fault structure. Two out of seven historical drill holes (PM-3 and PM-7) produced encouraging intersections of fracture-controlled and disseminated mineralization in the basalt flows which graded 2.59 lbs U3O8/ton over 38 ft, and 4.79 lbs U3O8/ton over 43 ft, respectively (see Figure 1 above). Individual historical assays within these intersections ranged from less than 0.1 lbs U3O8/ton up to 42.75 lbs U3O8/ton over 40 inches. All other basalt intersections were less than 0.1 lbs U3O8 per ton over similar widths. See inset map of drill historical drill holes at Mineral Claim 102722.
Based on the results of historical trenching and drilling, it appears that mineralization occurs along fractures in the lower basalt flow, and along the lower faulted contact with the underlying arkoses. Radioactive material is extremely fine-grained and disseminated in a matrix of quartz grains, clay minerals, and minor sulphides (pyrite and chalcopyrite). A sample of finely disseminated mineralization in basalt from Trench #9 assaying 130 lbs U3O8 per ton over 13.0 feet (Wright, 1976) gave essentially the same result. A linear concentration or fracture filling was noted. A scanning electron microscope examination of this radioactive material indicated mainly U with minor Si, Fe and Ca, suggesting that uraninite is the uranium mineral, with minor impurities of quartz, iron oxides, and calcite (Wright, 1976).
Namibian Uranium Exclusive Prospecting License Applications
Hertz Energy has submitted applications for uranium Exclusive Prospecting Licenses ("EPLs") in Namibia (Figure 2). Namibia is a country of diverse geology and has one of the richest uranium mineral reserves in the world. There are currently two large operating mines, the Husab and Rossing mines, in the Erongo Region and five major exploration projects planned to advance to production in the next few years as the country embraces the green energy transition. Uranium mining in Namibia is of considerable importance to the national economy. In 2023, Namibia produced the 3rd largest quantity of uranium worldwide at 6,382 tonnes, ranked only behind Kazakhstan and Australia.
The license application areas cover an area of 9,627.84 hectares located in Central Namibia in the Erongo Region, which hosts numerous primary and secondary uranium deposits. Primary uranium is hosted mainly in sheeted D-type alaskites which occur both as cross-cutting dykes and as bedding and/or foliation-parallel sills. The sheets can amalgamate to form larger granite plutons or granite stockworks made up of closely spaced dykes and sills. The mineralized alaskites tend to occur at marked stratigraphic levels, often associated with the Khan-Rössing Formation boundary, or, where the Rössing Formation is missing, the Khan-Chuos/Arandis Formation boundary. Secondary uranium deposits occur in calcretes in the coastal plain of the Namib Desert. The deposits are associated with ancient river systems that flowed westward from the Great Escarpment during the upper Cretaceous and lower Cenozoic periods. Uranium mineralization is typically located in calcretised fluvial channels which tend to be buried with little or no obvious surface expression to identify them.
Figure 2: License applications in the Erongo Uranium Province of Namibia
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/214577_1efd48a29444a908_002full.jpg
Exclusive Prospecting License Application EPL-10185
EPL-10185 is located 22 km east of the coastal town of Swakopmund. The geology is comprised of units from the Kuiseb, Karibib, Arandis, Chuos and Khan Formations intruded by granodiorites and uranium prospective granites (Figure 3). Most of the western and central parts of the licence is under recent surficial cover made up of sand, gravel, scree, and calcrete. Preliminary interpretation of regional airborne radiometric data from the Namibian Ministry of Mines and Energy indicates radiometric anomalies coinciding with favourable geology for primary alaskite-hosted uranium mineralization. This is the similar style of mineralization found at Bannerman Energy's Etango deposit located 15 km southeast of EPL-10185 as well as that at the Rössing Mine located 30 km to the northeast. The Rössing Mine is one of the largest and longest operating uranium open cast mines in the world producing for the last 46 years. In 2022, Rössing produced 2,659t U3O8 and currently has a feasibility study underway to extend the mine life beyond 2026 (source: Rössing Uranium website - www.rossing.com).
Figure 3: The geology and the airborne radiometric anomaly targets (red) of EPL-10185
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/214577_1efd48a29444a908_003full.jpg
Exclusive Prospecting License Application EPL-10186
EPL-10186 is located 40 km northeast of the coastal town of Swakopmund. Most of the licence application area is covered by recent sand, gravel, scree and calcrete, with a few outcrops of mica schist, calc-silicate rock, marble and red granite (Figure 4). There are two prominent sub-surface water conduits/streams which in general, are believed to be geographically similar to where paleo-channels carrying uranium-rich waters would have flowed. Preliminary interpretation of regional airborne radiometric data from the Namibian Ministry of Mines and Energy indicates a strong and consistent radiometric anomaly trending northeast-southwest and coincident with the subsurface streams. The Company is targeting secondary uranium mineralization with potential for primary mineralization to the east of the application area. This is the similar style of mineralization found at ORANO's Trekkopje Mine 6 kilometres north of EPL-10186 and Elevate Uranium's Marenica deposit 40 km to the north with an existing mineral resource.
Figure 4: The geology and the airborne radiometric anomaly targets (red) of EPL-10186
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/214577_1efd48a29444a908_004full.jpg
The Company expects the EPL applications will be granted by the Namibian Ministry of Mines and Energy in the coming months, and exploration can begin on these uranium properties immediately after the EPLs are granted.
Kal Malhi, CEO of Hertz Energy stated, "We are pleased to be able to begin the process of spinning-out these uranium projects in Canada and Namibia in such a way as to benefit the Company and all of our shareholders.
The Uranium Assets comprise historically documented potential at the Cominco Uranium Property and early-stage exploration potential at our Namibian EPL applications. With the increasing shift to clean energy and concerns around energy security and climate change, we believe uranium can play a large role in the transition to zero-emission base-load electricity generation that the world requires.
We believe our Uranium Assets need to be in a stand-alone public company to be able to fully realize their potential and to provide appropriate value to our shareholders."
PROPOSED "SPIN-OUT" TRANSACTION
The Company anticipates that the Transaction will include the transfer of the Cominco Property and the Namibian EPL's into a stand-alone subsidiary holding the Uranium Assets to be called Hertz Uranium. The consideration for such transfer is expected to be the common shares in the capital of Hertz Uranium.
Hertz Energy then intends to distribute all, or the majority, of such common shares to its existing shareholders on a pro rata basis. The ratio of shares will be determined in the context of the market.
There is no guarantee that a spin out transaction will be consummated, or that the Spin Out will be completed on the terms outlined herein. The Spin-Out represents the current thinking of management and management reserves the rights to alter, amend terms or change the proposed Spin-Out in its sole discretion. It is also anticipated that the Spin-Out will be undertaken by way of a plan of arrangement and there can be no assurances that the arrangement will be completed on the terms outlined herein or at all. The arrangement and the Spin-Out are subject to shareholder, regulatory, and court approval.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, P.Geo., Technical Advisor of Hertz Energy Inc. who is a Qualified Person as defined by NI 43-101.
This news release contains scientific and technical information with respect to adjacent properties to the Company's properties in Nunavut and Namibia, which the Company has no interest in or rights to explore. Readers are cautioned that information regarding the geology and mineralization potential on adjacent properties is not necessarily indicative of the mineralization potential on the Company's properties.
About the Company
The Company is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of energy metals mineral properties. The Company's lithium exploration projects include the Lucky Mica Lithium Project, the AC/DC Lithium Project, and the Snake Lithium project. The AC/DC Project is 26,500 hectares located in the renowned James Bay Lithium District in Quebec, Canada, just 26 km southeast of the Corvette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto's Kaanaayaa project claims. The Snake Lithium project consists of 424 contiguous claims totaling approximately 21,700 hectares located east of Patriot Battery Metals Corvette project. The Snake Lithium project is within a similar geological setting to Alkem's James Bay Lithium Project and Nemaska's Whabouchi Lithium project both containing significant lithium mineral resource estimates.
The Company's uranium projects include the Cominco Uranium Project located in Bathurst Inlet, Nunavut, Canada and its recent applications for Exclusive Prospecting Licenses in Namibia.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
SOURCE: Hertz Energy Inc.
Kootenay Adds Drill at Columba High-Grade Silver Project.
https://www.prnewswire.com/news-releases/kootenay-adds-drill-at-columba-high-grade-silver-project-302184125.html
Kootenay Silver Inc. Jun 27, 2024, 07:30 ET
VANCOUVER, BC, June 27, 2024 /PRNewswire/ - Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased to announce coring is underway with a second drill working at the Columba Project, Chihuahua state, Mexico.
Current work is focused on extending known limits of "D-Vein" and the second drill is positioned to complement this goal by testing the southeastern extensions of "B-Vein" and "B2-Vein". The second drill will work southeastward along the B-Vein trend toward a priority target zone where surface mapping indicates "D -Vein" and the "B-Vein" trends intersect.
The B-Vein trend lies along southeastern extension of the "F-Vein" and contains well mineralized veins as evidenced by previous intercepts. Drillhole CDH-20-0821 intercepted 4.6 meters averaging 1,186 gpt Ag from 184.5 meters downhole and a follow up hole, CDH-21-1122 encountered 2.0 meters core length averaging 1,050 gpt Ag from 212 meters downhole. True widths for both intercepts are estimated at 60-75% of core length. No drilling has been undertaken on B-Vein since 2022
The current drilling program is designed to find the strike extent of D-Vein mineralization in preparation of infill drilling and a now fully funded follow up program of 20,000 meters, aimed to delineate a maiden resource expected in late 2024. The second drill will assist this goal initially before moving on to perform test extensions of other known vein intercepts and also initial tests of promising but as yet undrilled targets.
Kootenay's President & CEO, James McDonald states, "We have completed over 30,000 meters of drilling at Columba and are extremely excited to see the project growing in size. We continue to step along D-Vein as a priority, this structure with its high grade and broad mineralized stockwork halo has the potential to contain a significant resource. We are also eager to test our many undrilled targets. The erosion profile at many of these veins has not exposed the top of the mineralized horizon, we need to drill down to the optimal elevation to really see what these structures hold."
Drill results are compiled and released as batches, drill highlights, maps and sections from the project are tabulated on the Company's website at the links below
Click to view the drill plan, long section, and cross sections.
The company has completed over 30,000+ meters of diamond drilling in 153 holes at Columba since 2019 and intercepted numerous veins with high silver grades and widths indicating excellent resource potential. Prospective veins on the project are hosted within a volcanic caldera setting, the surface extent of mapped veins measuring roughly 4 kilometres by 3 kilometres. Management believes that Columba may be a newly recognized vein district that is nearly entirely preserved from erosion.
A comprehensive list of drill results completed on the Columba Property since 2019 may be viewed here: Columba Drill Results.
Sampling and QA/QC at Columba
All technical information for the Columba exploration program is obtained and reported under a formal quality assurance and quality control ("QA/QC") program. Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists and engineers. Samples are then labeled, placed in plastic bags, sealed and with interval and sample numbers recorded. Samples are delivered by the Company to ALS Minerals ("ALS") in Chihuahua. The Company inserts blanks, standards and duplicates at regular intervals as follows. On average a blank is inserted every 100 samples beginning at the start of sampling and again when leaving the mineral zone. Standards are inserted when entering the potential mineralized zone and in the middle of them, on average one in every 25 samples is a standard. Duplicates are taken in the mineralized intervals at an average 2 duplicates for each hole.
The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS in Vancouver, B.C. Systematic assaying of standards, blanks and duplicates is performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30-gram fire assay with an AA finish. All drilling reported is HQ core and was completed by Globextools, S.A. de C.V. of Hermosillo, Sonora, Mexico.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Persons
The Kootenay technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved on behalf of Kootenay by Mr. Dale Brittliffe, BSc. P. Geol., Vice President, Exploration of Kootenay Silver, is the Company's nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, has reviewed the scientific and technical information disclosed in this news release. Mr. Brittliffe is not independent of Kootenay Silver.
About Kootenay Silver Inc.
Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico. Supported by one of the largest junior portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at June 26, 2024. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Kootenay as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, Kootenay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Kootenay's expectations or any change in events, conditions or circumstances on which any such statement is based.
Cautionary Note to US Investors: This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements adopted by the U.S. Securities and Exchange Commission (the "SEC"). The SEC sets rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
1 Previously released January 20, 2021. Drilled width with estimated true width previously estimated at 70% of drilled.
2 Previously released December 16, 2021. Drilled width with estimated true width previously estimated at 55% to 70% of drilled.
SOURCE Kootenay Silver Inc.
Lexston Mining: 2024 Geological Exploration Program on 176 and Itza Uranium Properties in Nunavut Commences
https://thenewswire.com/press-releases/1BR1F5yzq-2024-geological-exploration-program-on-176-and-itza-uranium-properties-in-nunavut-commences.html
Vancouver, British Columbia, June 27, 2024. - TheNewswire - Lexston Mining Corporation (the “Company” or “Lexston”) (CSE: LEXT) (OTCQB: LEXTF) (Frankfurt: W5G) is pleased to announce that further to the News Release of June 18, 2024, Aurora Geosciences Ltd. crews have arrived in Nunavut to begin verifying historical results and ground truthing favorable anomalism in high priority target areas on the properties.
CEO Jag Bal stated, "‘This marks a significant step forward in our development and provides us with crucial insights as we progress towards the initial phase of our project in the very active Thelon Basin. We are looking forward to evaluating the potential of this mineralized system."
About the Itza and 176 Properties
Property Highlights:
The Itza and 176 Projects (the “Properties”) are in the Thelon Basin in the Kivalliq Region of Nunavut, occupying an area of 11,350 hectares. The Properties represent a strong land position in the Thelon Basin.
Extensive historical data is available on the Properties to guide exploration planning.
Historical high-grade uranium occurrences: including a historical pebble sample (#1708, Boulder SN-176) retrieved during boulder prospecting returned 4,000 counts per second (cps) using a scintillometer and assayed 332,000 ppm U (39.15% U3O8).
Previous exploration programs were terminated without extensive drill testing.
The portfolio that covers the spectrum from conceptual exploration targets to near-drill ready targets.
Click Image To View Full Size
Priority Targets for follow up:
A) Coincident anomalism at the 176 Property area surrounding priority target SN-176 associated with mapped reactivated structures, Uranium in soil, and EM-VLF anomalies.
B) Uraniferous boulder train targets at the Itza Property.
The combined Itza and 176 properties straddle the mapped unconformity between the Thelon Fomation and the underlying Amer Lake Metasediments. It contains numerous reactivated Faults identified during previous exploration, the intersection of reactivated faults and unconformities is highly prospective for uranium deposits. Multiple coincident anomalies on the property: Magnetic Low, VLF Electromagnetic, Gravity Low, Radiometric, Uranium in Soil and uriniferous boulder train anomalism require immediate ground truthing and follow up.
Qualified Person: The technical information contained in this news release has been reviewed by Luke van der Meer., P.Geo. Mr. van der Meer is a qualified person as defined by National Instrument 43-101.
1 Historical Data: The technical information contained within this news release is derived from public domain data and minerals claims assessment reporting and is freely available from the Canada-Nunavut Geoscience Office (CNGO) website. This news release includes historical information that has been reviewed by Lexston’s qualified person (“QP”). Lexston’s review of the historical records and information reasonably confirm the validity of the information presented in this news release; however, Lexston cannot directly verify the accuracy of the historical data, which includes (but not limited to) the procedures used for sample collection and analysis. Therefore, any conclusions or interpretations that may arise from the respective data should be considered too speculative to suggest that additional exploration will result in mineral resource delineation. Lexston encourages readers to exercise appropriate caution when evaluating results based on historical data.
2 Exploration Target(s): Exploration targets and/or Exploration zones and/or Exploration areas are speculative and there is no certainty that any future work or evaluation will lead to the definition of a mineral resource.
About Aurora Geosciences
Founded in 1981, Aurora Geosciences has its origins in Northern Canada, established with a commitment to excellence in northern exploration aimed at mineral discovery. The founders envisioned and implemented innovative exploration models and techniques, adapting geophysical technology to withstand the harsh northern elements. This approach was instrumental in several major base and precious metal discoveries in the Northwest Territories and Nunavut.
Driven by the same passion for over 40 years, Aurora Geosciences' staff uphold the tradition of mineral exploration and discovery. Their operations have expanded beyond the Northwest Territories, Yukon, and Alaska to include numerous projects across North America. The team continues to excel in providing integrated geoscience solutions, products, and exploration support for clients, maintaining a "can do" attitude. Home - Aurora Geosciences Ltd.
About Lexston Mining Corporation
The Company is a Canadian mineral exploration company, focused on the acquisition and development of mineral projects, with the objective to enhance value to all its stakeholders. The Company has mineral exploration projects in British Columbia and Nunavut, Canada.
The Company (OTCQB: LEXTF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.
On Behalf of the Board of Directors
LEXSTON MINING CORPORATION
Jagdip Bal
Chief Executive Officer
Telephone: (604) 928-8913
Email: info@lexston.ca
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-looking statements
This news release contains "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, objections by aboriginal people, delays in obtaining governmental approvals and permits, obtaining consents of aboriginal people and other risks in the mining industry.
These forward-looking statements include but are not limited to timing of the exploration program, goals of the exploration program, obtaining financing, obtaining exploration permits, exploration of properties for minerals, liquidity of the common shares of the Company and future financings of the Company. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the acquisition of new properties, liquidity of the common shares of the Company, financings, the market valuing the Company in a manner not anticipated by management of the Company. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company does not undertake to publicly update or revise forward-looking information.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on its properties. Investment in the securities of the Company is very risky. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. .
First Tellurium Interpreting IP Survey Data in Preparation for 2024 Exploration Program at Deer Horn Project
Interpreted data expected to provide guidance and targets for planned exploration, including drilling.
https://thenewswire.com/press-releases/1AD4FlW0K-first-tellurium-interpreting-ip-survey-data-in-preparation-for-2024-exploration-program-at-deer-horn-project.html
Vancouver, BC, Canada, June 27, 2024 – TheNewswire – First Tellurium Corp. (CSE: FTEL, OTC: FSTTF), reports it has contracted with Campbell & Walker Geophysics to interpret data from First Tellurium’s 2023 Induced Polarization geophysical survey at the Deer Horn Property in West Central British Columbia.
The objective of the interpretation is to provide additional guidance for planned exploration at Deer Horn, including drilling, for the 2024 season.
“For much of 2024, we have focused on setting up manufacturing for the PyroDelta thermoelectric device,” said First Tellurium President and CEO Tyrone Docherty. “With that process moving into the hands of the very capable RESOLVE ngo (as reported June 5 and June 25), we are refocusing on advancing the Deer Horn Project.”
Exploration at Deer Horn in 2023 expanded the mineralized zone to approximately 17.5 square kilometers with a growing copper porphyry and high-grade Au-Ag-Te. This work also confirmed a crucial structural connection between the property’s Pond copper porphyry and gold-silver-tellurium systems. Further information about the 2023 program can be found in the Company’s news releases dated August 16, August 31, October 4 and November 6, 2023.
Campbell & Walker Geophysics is located at 16 Forth Street, Edinburgh, ML EH1 3LH, Scotland.
About First Tellurium Corp.
First Tellurium’s unique business model is to generate revenue and value through mineral discovery, project development, project generation and development of tellurium-based technologies.
First Tellurium proudly adheres to, and supports, the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent. First Tellurium is listed on the Canadian Stock Exchange under the symbol “FTEL” and on the OTC under the symbol “FSTTF”. Further information about FTEL and its projects can be found on www.firsttellurium.com.
On behalf of the board of directors of
First Tellurium Corp.
“Tyrone Docherty”
Tyrone Docherty
President and CEO
For further information please contact:
Tyrone Docherty
604.789.5653
tyrone@firsttellurium.com
X/Twitter:
https://twitter.com/TelluriumCorp
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.
Quetzal Copper Mobilizes Drill Rig to the Cristinas Project, Chihuahua Mexico
https://www.newsfilecorp.com/release/214386
June 26, 2024 7:30 AM EDT | Source: Quetzal Copper Limited
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2024) - Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") is pleased to announce the commencement of field work at the Cristinas Project in Chihuahua, Mexico, with the mobilization of field and drill crews to site.
The planned field program includes 1,500 m to 3,000 m drill program focused on stepping down-dip from open, high-grade copper intercepts from the 2014 program. Then the company plans to perform a downhole InfiniTEM XL geophysical survey - a deep penetrating tool with a depth of investigation of up to 1,000 m below surface - to expand on the existing EM anomalies.
Matthew Badiali, Chief Executive Officer, commented, "We are excited finally get to work at Cristinas. We designed the drill program to evaluate the continuity of the high-grade copper mineralization below the existing historic drilling. The accompanying geophysical survey will give us a much clearer understanding of the potential extent of the sulphide mineralization. We know this project holds excellent copper mineralization. We now need to understand its potential to be a large copper deposit."
Figure 1: Location of Drill Target and Historical Drilling at Cristinas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10393/214386_f624c19d04e69b52_001full.jpg
In addition, the drill program will target the two conductors identified in the 2022 electro-magnetic geophysical survey (EM). As previously discussed in the April 26, 2024, press release, these conductors are associated with the down-dip projection of mineralization in the historic mine and drill holes.
The Coatl vein conductor aligns with the down-dip projection of the mine workings and most of the shallow drill intercepts and continues to depth of at least 350m below surface. The Company interprets the conductor to be related to sulphide (e.g., chalcopyrite and/or pyrite) mineralization like that observed in the drill holes.
The survey identified a second conductor with the same vertical extent as the Coatl vein conductor. However, it is located approximately 90 m into the hanging wall. The Hanging Wall conductor projected to surface coincides with copper intercepts at the top of the historic drill hole LC13DD07. That interval contained 0.9 m true width of 2.0% copper in (Figure 2).
Figure 2: EM Targets Beneath Open Drill Intercepts
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10393/214386_f624c19d04e69b52_002full.jpg
The Company plans to do a follow up downhole EM survey, after drilling. The downhole EM survey will provide the Company with more detailed data on the extent and geometry of the Coatl vein and Hanging Wall conductors. A limited loop geometry, as well as oxidation of sulphide minerals at surface may have limited the 2022 survey's ability to determine the full extent of the vein-associated EM conductors.
About the Cristinas Project
The 685-hectare Cristinas Project is in northeastern Chihuahua state, Mexico, approximately 2 hours by car from Chihuahua City in a prolific belt of carbonate-hosted deposits that extends from south-central Mexico north through the United States (Figure 3). The Cristinas Project includes a historic copper mine that operated in the 1950's on shallow copper oxide mineralization. The project features a >1,250 m long zone of copper mineralization traced through rock chips on surface and 12 historical (2014) drill holes. The copper mineralization is open along strike and at depth with significant expansion potential highlighted by limited geophysical surveys.
Figure 3: Major Carbonate-Hosted Deposits in the Southwestern US & Mexico
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QP Statement
Dr. Roy Greig, P.Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed, and approved the technical content in this release.
About Quetzal Copper
Quetzal is engaged in the acquisition, exploration, and development of mineral properties in British Columbia and Mexico. Quetzal currently has a portfolio of three properties located in British Columbia, Canada and one in Mexico. The Company's principal project, Princeton Copper, is located adjacent to Hudbay's Copper Mountain mine in southern British Columbia.
Quetzal Copper Limited
Matthew Badiali, CEO
Phone: (888) 227-6821
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to exploration and development of the Company's properties.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated, accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
SOURCE: Quetzal Copper Limited
Cosa Resources Announces Completion of Geophysical Surveys at Multiple Eastern Athabasca Uranium Projects
https://www.newsfilecorp.com/release/214422
June 26, 2024 7:30 AM EDT | Source: Cosa Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce the completion of ground and airborne geophysical surveys at its Ursa, Orion, Astro and Orbit Projects.
Keith Bodnarchuk, President & CEO, commented: "The completion of these geophysical programs at our 100% owned Ursa, Orion, Aurora, and Orbit projects marks another important step in Cosa's path to developing a pipeline of drill targets across much of our prospective and highly underexplored portfolio of uranium projects. We consider the recent winter drilling results and identification of sandstone hosted structure and alteration to be a major success for the Company and are eager to use the results of the ANT work at Ursa to guide follow up drilling later this summer. With the completion of our $6.5m bought deal financing earlier this year, we are fully funded to pursue exciting drill targets at Ursa while also bringing the Orion, Aurora, and Orbit projects up to drill-ready status for 2025."
Andy Carmichael, VP of Exploration, commented: "We are pleased to have completed the data acquisition phase of our geophysical program which includes three types of surveys to advance four of our key uranium projects. Cosa expects that by starting early in the season, results from the extensive Ambient Noise Tomography (ANT) work at Ursa will be in hand in time to guide drilling to follow-up encouraging results from winter 2024 drilling and bolster target area prioritization on this 60,000-hectare project. We are excited to see the ANT results from Orion where work in 2023 highlighted compelling coincident sandstone and basement conductive anomalies, and airborne gravity and electromagnetic results at Aurora and Orbit will shape 2025 exploration at these shallow projects proximal to the Key Lake uranium mill."
Ambient Noise Tomography Survey
Ambient Noise Tomography (ANT) surveying was completed at Ursa and Orion in two phases, with node deployment in May and node pickup in June. Harvesting of data from the 930 nodes is underway and processing to develop a three-dimensional (3D) seismic velocity model is expected to begin immediately after data harvesting is complete.
As the Athabasca sandstone is relatively homogenous and seismic wave velocity varies with changes in the host rock, variations in seismic velocity can be attributed to post-Athabasca faulting and/or alteration zones characteristic of the region's high-grade uranium deposits. Recent exploration drilling in the region targeting ANT anomalies has successfully intersected zones of hydrothermal alteration at depth.
At Ursa, ANT surveying comprised 746 nodes covering 27 kilometers of conductive strike length which hosts the zone of alteration and structure intersected by UR24-03 at Kodiak (see Cosa news release dated April 24, 2024), the Kodiak North, Smokey, and Panda West target areas (see Cosa news release dated January 11, 2024), and all three weakly mineralized historical drill holes within the Project (Figure 1). Cosa expects to utilize ANT survey results to guide a diamond drilling program planned for August and September 2024.
At Orion, ANT surveying comprised 184 nodes covering the kilometre-scale sandstone hosted conductivity anomaly coincident with conductive basement geology identified by Cosa's 2023 airborne MobileMT™ survey (Figure 2). The conductive anomalies lie along strike of weak mineralization, encouraging structure, and hydrothermal alteration intersected at Orano's neighbouring Parker Lake project immediately west of Orion and the ANT target area. ANT results from Orion will be used to guide follow-up to generate targets for first-pass drilling planned in 2025.
Aurora and Orbit Airborne Surveys
Airborne electromagnetic (EM) and gravity surveys were completed at Aurora and Orbit from early May until mid-June (Figure 3). EM surveying was completed by Geotech Ltd. using the VTEM™ Plus system with the objective of mapping basement-hosted conductive features consistent with prospective graphitic structures and/or large zones of hydrothermal alteration. Gravity surveys were completed by Xcalibur Multiphysics' Falcon® Airborne Gravity Gradiometer (AGG) system with the objective of mapping gravity anomalies consistent with zones of hydrothermal alteration and to improve the understanding of basement geology. Top priority follow-up targets would be gravity low anomalies coincident with basement-hosted conductivity features.
Finalization of the airborne datasets is underway. Condor Consulting Inc., recognized experts in the field of geophysical data processing and interpretation, have been retained to perform a detailed interpretation of the results following receipt of the final datasets.
Figure 1 - Ursa ANT Survey Areas over 2023 MobileMT™ Results
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Figure 2 - Orion ANT Survey Area over 2023 MobileMT™ Results
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Figure 3 - Aurora and Orion Airborne Survey Areas
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Stock Option Grant
The Company has granted 1,179,000 incentive stock options to directors, officers, employees and advisors of the Company. The incentive stock options will vest over a period of three years, have an exercise price of $0.305 per share, and are valid for a 5-year period from the date of grant. The options were granted pursuant to the Company's incentive stock option plan which was approved by Shareholders at the Company's Annual General and Special Meeting on June 12th, 2024.
About Cosa Resources Corp.
Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. The portfolio comprises roughly 209,000 ha across multiple projects in the Athabasca Basin region, all of which are underexplored, and the majority reside within or adjacent to established uranium corridors.
Cosa's award-winning management team has a long track record of success in Saskatchewan. In 2022, members of the Cosa team were awarded the AME Colin Spence Award for their previous involvement in discovering IsoEnergy's Hurricane deposit. Prior to Hurricane, Cosa personnel led teams or had integral roles in the discovery of Denison Mines' Gryphon deposit and 92 Energy's Gemini Zone and held key roles in the founding of both NexGen and IsoEnergy.
Cosa's primary focus through 2024 is initial drilling at our Ursa Project, which captures over 60-kilometres of strike length of the Cable Bay Shear Zone, a regional structural corridor with known mineralization and limited historical drilling. It potentially represents the last remaining eastern Athabasca corridor to not yet yield a major discovery. Modern geophysics completed by Cosa in 2023 identified multiple high-priority target areas characterized by conductive basement stratigraphy beneath or adjacent to broad zones of inferred sandstone alteration - a setting that is typical of most eastern Athabasca uranium deposits. Initial drilling results from Ursa in winter 2024 are positive and include the intersection of a broad zone of alteration with associated structure in the Athabasca sandstone located 250 to 460 metres above the sub-Athabasca unconformity. Follow-up is planned in the second half of 2024.
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Andy Carmichael, P.Geo., Vice President, Exploration for Cosa. Mr. Carmichael is a Qualified Person as defined under the terms of National Instrument 43-101. This news release refers to properties in which the Company has no interest.
Contact
Keith Bodnarchuk, President and CEO
info@cosaresources.ca
+1 888-899-2672 (COSA)
Cautionary Statements
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.
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company's exploration and development plans. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including the price of uranium and other commodities; costs of exploration and development; the estimated costs of development of exploration projects; the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
SOURCE: Cosa Resources Corp.
Corcel Exploration Announces Acquisition of Willow Property in British Columbia
https://www.newsfilecorp.com/release/214230
June 24, 2024 5:00 PM EDT | Source: Corcel Exploration Inc.
Kelowna, British Columbia--(Newsfile Corp. - June 24, 2024) - Corcel Exploration Inc. (CSE: CRCL) ("Corcel" or the "Company") is pleased to announce that it has acquired the Willow Copper Property in British Columbia, Canada ("Willow" or the "Property"). The Property is located in the Omineca Mining Division of north-central British Columbia, approximately 4 kilometres southeast of the Sustut Copper Deposit, now held by Imperial Metals Inc. (see Figure 1 below). Willow consists of a single, fully contiguous claim block totalling approximately 1,160 hectares, and was acquired via direct staking by the Company. Corcel believes in the strategic importance of copper in the global market moving forward and is excited to have secured a significant foothold in this highly prospective region of the province.
Figure 1: Willow Property Regional Map
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Note: See endnote (1) for technical disclosure related to the Sustut Deposit historical resource estimate shown in Figures 1 and 2.
The Sustut Copper Deposit (BC MINFILE 094D 063) to the northwest of the Property, discovered in 1971 by Falconbridge Ltd., lies in a similar geological environment to the Property. Willow is underlain by the Upper Triassic Takla Group, which consists of the Savage Mountain Formation overlain by the Moosevale Formation. A major fault in the Willow Creek valley strikes northwest-southeast and cuts through the southern portion of the Sustut claims. Historical rock samples collected from the southeast of the Property returned copper grades of up to 6.28% (see Figure 2 below) (BC MINFILE 094D 082)(2).
Figure 2: Willow Property Local Map & Rock Sample Results
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Note: Historical rock grab sample results for the Willow Property sourced from "Report on the 1997 Exploration Program on the Willow Property, Omineca Mining Division, British Columbia for Cross Lake Minerals Ltd., J. Miller-Tate (P.Geo) & C. Church (P. Geo), September 15, 1997"(2).
Next Steps
The Company and its technical team plan to conduct a detailed review of all historical data available on the Property and surrounding areas in the coming months. Following the review, Corcel will outline any priority fieldwork in support of Willow's advancement.
Qualified Person
The technical information contained in this news release was reviewed and approved by Case Lewis, P.Geo., who is a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
(1) Source: Technical Report, Sustut Project, British Columbia prepared for Doublestar Resources Ltd., October 8, 2004 (filed on SEDAR on October 25, 2004) (the "Report"). The Report's resource estimate was based on the classification system defined by the CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines, adopted by the CIM council on August 20, 2000. The resource was assigned a confidence category classification based on the distance from the block centroid to the nearest copper composite value within the search ellipsoid. Measured resources were considered 0 to 25 metres, Indicated resource from 25 to 50 metres. Density factor of 2.85 tonnes per cubic-metre was used for all rock types. The Sustut historical resource description referenced in this news release is considered relevant because it demonstrates the potential viability of the project. The Company cautions readers that a Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the Company is not representing the historical estimate as current mineral resources or mineral reserves.
(2) Cautionary note: Grab samples are selective by nature, and values reported may not represent the true grade or style of mineralization at the Project. The historical data disclosed in this news release, including sampling, analytical, and test data could not be verified by a Qualified Person as such data is historical and the original samples are no longer available. The news release contains historical exploration data that have not been verified by Corcel and may not be accurate or complete, and therefore the information should not be relied upon.
About Corcel Exploration Inc.
The Company is a mineral resource company engaged in the acquisition and exploration of mineral resource properties. Its objective is to locate and develop precious and base metals, focusing initially on the exploration and development of the Peak Mineral Property in British Columbia, Canada, for which it holds an option to acquire a 100% undivided right, title, and interest in. From time to time the Company may also evaluate and acquire other mineral properties of merit.
For further information contact:
Stephen Dunn
Interim Chief Executive Officer
Tel: (416) 361-2827
Caution Regarding Forward-Looking Information
This news release contains statements and information that, to the extent they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward- looking information is based on the reasonable assumptions and estimates of management made based on experience and their perception of trends, current conditions and expected developments, all of which management believes to be reasonable in the circumstances at the date hereof, but which may ultimately prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the outcomes expressed or implied by the forward-looking information herein, including but not limited to the factors discussed under "Risk Factors" in the Company's final long form prospectus dated October 13, 2021, available on the Company's SEDAR+ profile at www.sedarplus.ca. Accordingly, readers should not place undue reliance on any such forward-looking information. The Company does not undertake any obligation to update any forward-looking information herein to reflect new developments after the date hereof, except as required by applicable securities legislation.
The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Not for distribution to United States newswire services or for release publication, distribution, or dissemination directly, or indirectly, in whole or in part, in or into the United States.
SOURCE: Corcel Exploration Inc.
Finlay Minerals purchases high-grade copper-silver SAY Property
https://www.newswire.ca/news-releases/finlay-minerals-purchases-high-grade-copper-silver-say-property-861495324.html
Finlay Minerals Ltd. Jun 26, 2024, 08:30 ET
VANCOUVER, BC, June 26, 2024 /CNW/ - Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to report that it has entered into an agreement (the "Purchase Agreement") for the 100% purchase of the SAY Property (the "SAY") 140 km north of Smithers, BC.
Robert F. Brown, President & CEO of Finlay Minerals, states:
Finlay Minerals purchases high-grade copper-silver SAY Property (CNW Group/Finlay Minerals Ltd.)
"Initial rock sampling along the open-ended, and virtually unexplored, Spur Target Area has discovered high-grade copper-silver values associated with regional structures and a magnetic-high trend. The Spur Trend along with the Shel porphyry copper mineralization, mark the SAY Property as an excellent exploration project, all within the prodigious Stikine Terrane rocks of northern British Columbia.
Finlay management looks forward to conducting an exploration program in the near future to further evaluate and generate new targets."
The SAY property covers 10,587 hectares (99.17km2) of highly prospective ground and hosts multiple styles of high-grade copper ± silver and molybdenum-copper mineralization in two known target areas:
the Spur Target area has outcrop rock sampling with up to 15.8% copper ("Cu") and 993 g/t silver ("Ag") in predominantly structurally-hosted Cu and Ag mineralization, with 78 of 129 rock samples collected to date yielding >1% Cu and 59 yielding >100 g/t Ag which have been sampled over 4.3 km along the Tsaytut Ridge. The Spur Trend is associated with a 55 km long NNW trending regional magnetic high feature along which regional structural and redbed-type Cu-Ag, and porphyry Cu showings exist.
the Shel Target area hosts a 3 km x 2 km circular magnetic anomaly with a coincident surface gossanous zone and a copper-molybdenum ("Mo") soil geochemical anomaly. Historic drilling intersected low grade Cu-Mo exemplified by 59.3 m assaying 0.08% Cu and 0.107% Mo from 77.7 m in hole 79-1 (Reference: BC Mineral Assessment Report 8075).
Both the Spur and Shel Target areas are within the underexplored Bear Lake Corridor of the Stikine Terrane which hosts several volcanic redbed / sediment-hosted Cu ± Ag showings and prospects including the Copperline and Red Spring prospects. The Stikine Terrane hosts first tier porphyry Cu-Au-Ag-Mo and associated Au-Ag structurally controlled vein deposits in the Golden Triangle (Red Chris and Brucejack Mines, Newmont Corp.), Toodoggone (former Kemess Mine, Centerra Gold Ltd.) and Skeena Arch (former Granisle Mine, Amarc-Boliden).
Within the Bear Lake corridor, active porphyry Cu-Au exploration projects include the NAK property of American Eagle Gold Corp., 90km to the south, and the Jake property of Quartz Mountain Resources Ltd., 50km to the north of the SAY Property.
For further information on the SAY, CLICK HERE to view the SAY Technical Presentation.
Pursuant to the Purchase agreement, Finlay will acquire the SAY Property, for consideration of CDN$50,000. The SAY property is currently subject to a 1.5% net smelter return royalty held by the vendor, Electrum Resources Corporation ("Electrum"), with Finlay retaining the right to buy back one-half of the NSR royalty (0.75%) for an aggregate payment to Electrum of CDN$1,500,000. Lastly, upon completion of a feasibility study on the SAY, Finlay will make an aggregate payment to Electrum of CDN$300,000.
The Transaction is subject to acceptance by the TSX Venture Exchange (the "TSXV") pursuant to TSXV Policy 5.3. No finders' fees will be paid in connection with the Transaction and no new insiders or control persons will be created.
Electrum and Baril Developments Ltd., each of which is a private British Columbia company controlled by Ilona B. Lindsay and Dr. John A. Barakso, and a personal trust of which John J. Barakso is the sole trustee and of which Ilona B. Lindsay and Dr. John A. Barakso are beneficiaries, are the registered holders, in the aggregate, of more than 20% of the voting rights attached to the Company's issued and outstanding common shares. In addition, each of Ilona B. Lindsay and Dr. John A. Barakso is a director and/or officer of the Company. As a result, the Transaction constitutes a "related party transaction" within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 provided by subsections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that, at the date of the Transaction, neither the fair market value of the SAY Property to be acquired pursuant to, nor the fair market value of the consideration for, the Transaction exceeded 25% of Finlay's market capitalization as determined in accordance with MI 61-10.
Qualified Person:
Wade Barnes, P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.
About Finlay Minerals Ltd.
Finlay is a TSXV company focused on exploration for base and precious metal deposits with three properties in northern British Columbia. In addition to the SAY Property, the Company has three properties:
The Silver Hope Property covers 213.11 km2 and surrounds the past-producing Equity Silver Mine in the prospective Skeena Arch region of central B.C. The Silver Hope contains the Main Trend which is a >2km Cu-Ag-Au mineralized trend with mineralization starting at surface. West of the Main Trend is the West Cu-Mo Porphyry which is also mineralized starting from surface. The Property hosts a network of forestry roads and trails and has all-year access from Houston, BC.
The ATTY Property covers 33.93 km2 of sub-alpine terrain in the southern Toodoggone region. The Toodoggone is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry Cu-Au ± Ag and associated epithermal Au-Ag deposits. The ATTY Property is in between and contiguous to Centerra Gold's Kemess Property and the joint-ventured Joy Property held by Amarc and Freeport-McMoRan. The ATTY's KEM target has similarities to the Kemess North Trend, which hosts the Kemess Underground and Kemess East deposits.
The PIL Property, which covers 170 km2 in the heart of the Toodoggone region, has numerous porphyry Cu-Au ± Ag targets and associated epithermal Au-Ag mineralization. The property is in Year 3 of a 5-year option to Cascadia Minerals Ltd., on completion of which Cascadia would acquire a 70% interest in the PIL. Following the exercise of the option, Cascadia and Finlay would hold interests in the Property of 70% and 30%, respectively, and a joint venture would be formed.
Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown, P. Eng.
President, CEO & Director
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for Finlay's properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions, including, among other things, assumptions regarding general business and financial conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
SOURCE Finlay Minerals Ltd.
For further information, contact: Finlay Minerals Ltd., Ilona Lindsay, Vice President, Corporate Relations & Director, Tel: 604-684-3099, iblindsay@finlayminerals.com
Evergold Commences Fieldwork on DEM Property, Central B.C.
https://ca.finance.yahoo.com/news/evergold-commences-fieldwork-dem-property-110000918.html
Evergold Corp.
Wed, June 26, 2024 at 4:00 a.m. PDT·5 min read
EVGUF
0.00%
TORONTO, June 26, 2024 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to announce the launch of this season’s field program on the Company’s road-accessible DEM precious and strategic metals prospect, located in central B.C. some 40 kilometres northwest of Fort St. James. The program gets underway this week with prospecting and ground-truthing of the DEM1 and DEM2 target areas and, in July and August, additional field work including geophysics, mapping and sampling in preparation for follow-up drilling at the DEM1 target, anticipated for September.
The DEM1 prospect continues to look compelling. A key target for follow-up drilling this season is located between the two widely-spaced pads from the fall 2023 program, where a strong CSAMT resistivity low anomaly on line 68000 N is coincident with a very strong IP chargeability anomaly, as shown on the Figure 1 section view, below. A plan view of the same CSAMT target (designated Feature “A” on Figure 2 below) shows last season’s two pads and three reconnaissance drill holes (results, see news January 15, 2024) immediately lateral to Feature A, along with an emerging Feature “B” to the southeast. A Voxel model of the CSAMT results (Figure 3) shows both Features A & B extending to depth. The combined geophysical datasets and the results of last fall’s drilling and historical geochemical sampling strongly suggest that these features represent near-vertical zones of sulphide-rich rock which extend from surface to a depth of several hundred metres or more.
At the DEM2 prospect, a specific area of interest has been identified from magnetic, topographic and geochemical surveys, located within the small catchment area of an unnamed lake. The latter hosts a molybdenum-copper-cobalt anomaly in lake sediments stronger than any others in the area, including that which led to the discovery of the DEM1 prospect.
“The DEM1 target continues to look terrific and DEM2 tantalizing for its early apparent similarities, at least in terms of geophysics, to DEM1”, said Kevin Keough, President & Chief Executive Officer. “Last season’s drilling demonstrated that the DEM1 system is richly mineralized and hosts an array of sulphides and valuable metals, both precious and strategic. This year’s geophysics has revealed that the two pads and three holes drilled in 2023 may have been marginally off-target, and that we really need to test the more highly prospective anomaly between the two, and possibly a second anomaly that is emerging to the south. Our goal with the next few holes at the DEM1 prospect will be to deliver high-grade underground style intercepts over broad widths, and to tap into what appears to be a deep-seated system.”
About the DEM Project
The 12,728-hectare DEM property is ideally located in moderate terrain only 40 kms northwest of Fort St. James in central B.C.. The project area lies toward the south end of the Nation Lakes porphyry camp and within the Quesnel terrane, the latter of which hosts large deposits and long-life mines including the Mount Milligan mine (50 kms to the northeast of DEM) and Lorraine deposit and, farther south, the Mt. Polley, Afton, Copper Mountain, and Brenda mines, in addition to the Highland Valley mines and deposits.
Located central to the DEM property is the DEM1 prospect, a roughly 4km2 target area defined by alteration and mineralogy suggestive of the presence of a porphyry system, by a multi-element soil geochemical signature, by compelling high-relief magnetic, IP-chargeability and CSAMT resistivity anomalies, and by the presence of nearby regional scale structures. Extensive logging in the area and associated forest service roads provide drive-on access directly to the DEM1 prospect. All of these factors, combined with the results of a reconnaissance drilling program last fall which returned narrow intercepts of high-grade gold, silver and strategic metals (molybdenum, cobalt, tungsten, tellurium, rhenium) within a broad low-grade envelope, underscore the strong exploration merits of the property. Further details on the DEM prospect may be found on the Company’s website at www.evergoldcorp.ca/projects/dem-property/ and in a NI 43-101 technical report dated August 30, 2023, posted thereon and on the Company’s issuer profile at SEDAR+.
Quality Assurance and Quality Control
Charles J. Greig, M.Sc. P.Geo., the Company’s Chief Exploration Officer and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
Figure 1: DEM1 Feature “A” Target Section Views, Comparison of CSAMT and IP Responses, Line 68000, to Scale
Figure 1 - DEM1 Feature A Section View, Comparison of CSAMT and IP Responses, Line 68000, to Scale
Figure 2: DEM1 Prospect, 2023 Holes in Relation to CSAMT Features A & B, with Proposed 2024 Holes & IP
Figure 2 - DEM1 Prospect Plan View, 2023 Holes in Relation to CSAMT Features A & B, With Proposed 2024 Holes & IP
Figure 3: DEM1 Prospect, CSAMT Features A and B, Voxel Model
Figure 3 - DEM1 Prospect CSAMT Features A and B, Voxel Model
About Evergold
Evergold Corp. is a TSX-V listed mineral exploration company with projects in B.C. and Nevada. The Evergold team has a track record of success in the junior exploration space, most recently the establishment of GT Gold Corp. in 2016 and the discovery of the Saddle epithermal vein and porphyry copper-gold deposits near Iskut B.C., sold to Newmont in 2021 for a fully diluted value of $456 million, representing a 1,136% (12.4 X) return on exploration outlays of $36.9 million.
For additional information, please contact:
Kevin M. Keough
President and CEO
Tel: (613) 622-1916
kevin.keough@evergoldcorp.ca
www.evergoldcorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward- looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/66a71a9e-460c-457d-95e7-cfc1f175cd66
https://www.globenewswire.com/NewsRoom/AttachmentNg/834a1b55-1388-4525-ba39-29338c917aac
https://www.globenewswire.com/NewsRoom/AttachmentNg/08967381-a85f-43b8-89ba-d278287b12c1
Forum Commences 10,000 Metre Diamond Drilling Program on Its 100% Owned Aberdeen Uranium Project, Nunavut
https://www.newsfilecorp.com/release/214272
June 25, 2024 6:30 AM EDT | Source: Forum Energy Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2024) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") is pleased to announce that it has initiated diamond drilling on its 100% owned Aberdeen Project (Figure 1). Forum plans on drilling approximately 10,000 metres (25-30 drill holes) largely within the Tatiggaq anomaly, as well as drill approximately 10 drill holes on other highly prospective areas - the Ned, Bjorn, and Qavvik targets.
HIGHLIGHTS
Approximately 25-30 holes are planned to extend and infill known mineralization at Tatiggaq West, expand Tatiggaq Main, and/or discover additional zones to the northeast along the Tatiggaq Fault.
The 2023 processed and modelled Ambient Noise Tomography (ANT) survey data have been used to refine and outline high-priority drill targets as we move away from the known mineralization at Tatiggaq West and Main.
The processed ANT data on Ned has outlined the unconformity depth (Thelon Formation sandstone) as well as potential faults and alteration that will be targeted in the upcoming drilling program.
Approximately 10 drill holes are planned to test the Ned, Bjorn and Qavvik anomalies.
Dr. Rebecca Hunter, Forum's VP, Exploration stated, "I am very excited to be launching the first large-scale uranium exploration program in the Thelon Basin since 2012. We have numerous high-priority targets to test this summer that have globally significant deposit potential."
The current understanding of uranium mineralization within the Tatiggaq deposit consists of two zones - the Main and West Zones - and is located at depths between 80 and 180 m. The mineralization is hosted in a series of high-grade subparallel, steep, south-dipping fault zones that sit within a 50 m wide area (Figure 2). Targeting in 2024 is focusing on extending the Tatiggaq West and Main zones and evaluating the mineralization potential along trend within the 0.7 km wide by 1.5 km long Tatiggaq gravity anomaly (Figure 3). Forum has 3D modelled several ENE-trending, subvertical faults, using the ANT data, including the uranium-hosting Tatiggaq Fault, and are using the fault traces, and areas of abrupt velocity contrast to refine drill targeting. The ANT data is being used to refine targeting at the Ned and Bjorn grids, which has allowed for modelling the Thelon sandstone - basement contact, as well as possible zones of fault development and hydrothermal alteration.
Rebecca Hunter, Ph.D., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano's uranium deposits are along the same controlling structures as Forum's Tatiggaq deposit and over 20 other targets are present within the project, which could host additional uranium deposits similar to the Athabasca Basin.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/214272_d27105274419fbdc_003full.jpg
Figure 2 The Tatiggaq Main and West zones are interpreted to be a series of near vertical, uranium- bearing lenses that trend for 1.5 km. The width of the mineralized section is interpreted to be approximately 50 m but its total width is not yet determined. TAT23-002 only intersected two of these lenses that were intersected in near vertical holes by Cameco's previous drilling (for example 0.85% over 13.7m in hole TUR14A). Proposed future drill holes will target mineralization to intersect the true width of the zone and its strike extent.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/214272_d27105274419fbdc_004full.jpg
Figure 3 Tatiggaq gravity anomaly and 2023 drill holes. 2024 targeting will focus expanding the known uranium mineralization to the west-southwest and the east-northeast along the Tatiggaq Fault. The modelled sub-parallel east-northeast-trending faults will also be targeted.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/214272_d27105274419fbdc_005full.jpg
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.
This press release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
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.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
SOURCE: Forum Energy Metals Corp.
Cassiar Gold Mobilizes Field Crews for 2024 Exploration Campaign
https://www.newsfilecorp.com/release/214401
June 26, 2024 7:00 AM EDT | Source: Cassiar Gold Corp.
Calgary, Alberta--(Newsfile Corp. - June 26, 2024) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) ("Cassiar Gold" or the "Company") is pleased to announce mobilization of field crews and the launch of the fully funded 2024 Exploration Program at the Company's flagship Cassiar Gold property. Exploration activity will primarily be focused at the Cassiar North project area of the district scale 59,000-hectare land package in northern British Columbia.
Commencement of 2024 Drill Campaign and Regional Field Program
The Company launched the first phase of the 2024 drill program on June 4th at the Cassiar North project area. The campaign plans to drill an initial 5,000 m with potential to expand, testing the Taurus Deposit and high priority outlying targets. Initially, drilling will be focused at the Taurus Deposit, shifting to test regional exploration targets as the season progresses.
"We are thrilled to have our boots back on the ground at the Cassiar Gold property for the launch of our 2024 exploration campaign," stated Marco Roque, CEO of Cassiar Gold Corp. "This season's program underscores our commitment to advancing our geological understanding and expanding the resource base of the property. With experienced crews, contractors, and technical experts we are well positioned to build on the success of our recent programs, which have expanded known mineralization and identified several new exploration targets."
Taurus Deposit and Regional Drilling
The Taurus Deposit hosts a near-surface, bulk-tonnage pit-constrained inferred gold resource of 1.4 million ounces grading 1.14 g/t Au1 which remains open for expansion. The deposit holds significant potential for growth laterally, at depth, and between gaps in the resource block model due to widely spaced drill holes within the resource footprint. Drilling at Taurus is designed to build on the success of the 2023 program, leveraging recent results from the Taurus deposit (see NEWS RELEASE, Sept 12, 2023; NEWS RELEASE, Jan 11, 2024) with continued focus on expanding the resource through evaluating untested areas between resource blocks as well as step out drilling.
Additional focus will be allocated to regional & brownfields programming, designed to test multiple outlying exploration targets with geological attributes interpreted to hold potential to host significant gold mineralization. A Phase 1 program at the Hopeful prospect aims to test the potential continuation of outcropping mineralization and coincident IP chargeability anomaly identified during the 2023 field campaign. Drilling at the Newcoast regional target will occur as follow up to results from a Phase 1 drill program completed in 2023, where assays returned 95.3 m of 0.90 g/t Au associated with extensive quartz veining and sulphide mineralization (see NEWS RELEASE, Jan 18, 2024).
Surface Exploration
Cassiar Gold continues to evaluate regional prospects by integrating new and historical datasets. An extensive surface exploration campaign will commence this month, concurrent to the drill program, and will remain ongoing for the duration of the field season to enhance and expand data coverage on the Cassiar Gold property. The campaign aims to refine field targets identified during the 2023 mapping campaign (see NEWS RELEASE, March 1, 2024), expand the extent of existing geological map and surface rock sample coverage, and will be complimented by additional soil sampling in areas known or interpreted to host anomalous gold mineralization.
Geophysical surveys, including regional and target-scale induced polarization (IP), magnetic, and very low frequency electromagnetic (VLF-EM) surveys, are planned for the 2024 field season. The suite of geophysical surveys will aim to support direct detection of mineralization as well as potential delineation of significant structures and associated alteration.
Figure 1. Plan view map of planned drill hole locations for 2024 Phase 1 drilling, with objectives indicated in blue text boxes. Regional prospects highlighted by white text boxes indicate areas slated for additional field work in 2024 to advance these targets, building on findings from the 2023 field program.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2958/214401_1db8049f44d7a96f_002full.jpg
Qualified Person
The technical information in this news release has been reviewed and approved by Jill Maxwell, P.Geo, Cassiar Gold Corp.'s VP Exploration, who is a Qualified Person as defined by National Instrument 43-101.
About Cassiar Gold Corp.
Cassiar Gold Corp. is a Canadian gold exploration company holding a 100% interest in its flagship Cassiar Gold Property located in British Columbia, Canada. The Cassiar Gold property spans 590 km2 and consists of two main project areas: Cassiar North, which hosts a NI 43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au (cutoff grade of 0.5 g/t Au) known as the Taurus Deposit (see National Instrument 43-101 Technical Report on the Cassiar Gold property, April 28, 2022, by S. Zelligan, J. Moors, C. Jolette, which is available on SEDAR+); and Cassiar South, which hosts numerous gold showings, historical workings, and exploration prospects. Historical underground mines in the Cassiar South area have yielded over 315,000 oz of Au at average head grades of between 10 and 20 g/t Au1, underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.
The Company also holds a 100% interest in properties covering most of the Sheep Creek gold camp located near Salmo, British Columbia, Canada. The Sheep Creek gold district ranks as the third largest past-producing orogenic gold district in British Columbia with historical gold production of 742,000 ounces gold at an average grade of 14.7 g/t gold from 1900 to 1951. Minimal exploration work has been conducted since the 1950s.
Cassiar Gold Corp. acknowledges, respects, and supports the rights of Traditional First Nations in the lands and communities where we operate.
1See April 28, 2022, NI43-101 Report titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property" by Zelligan, P.Geo, Moors, P.Geo, Jolette, P.Geo.
CONTACT INFORMATION
Cassiar Gold Corp.
E-mail: ir@cassiargold.com
Phone: 250-212-2122
Forward-Looking Statements
This press release may contain forward looking statements including those describing Cassiar's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Cassiar and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the Company's exploration plans and work commitments.
Although Cassiar 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, actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, general economic, market or business conditions, risks associated with the exploration and development industry in general (e.g., operational risks in development, exploration and production; the uncertainty of mineral resource estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the availability of services, commodity price and exchange rate fluctuations, the current COVID-19 pandemic, changes in legislation impacting the mining industry, adverse weather conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.
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.
SOURCE: Cassiar Gold Corp.
Orogen Royalties Acquires the TCS Copper and Zinc Massive Sulphide Target in British Columbia
https://www.accesswire.com/881833/orogen-royalties-acquires-the-tcs-copper-and-zinc-massive-sulphide-target-in-british-columbia
Wednesday, 26 June 2024 07:30 AM
VANCOUVER, BC / ACCESSWIRE / June 26, 2024 / (TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce the acquisition of the TCS volcanic-hosted-massive-sulphide (VHMS) project thirteen kilometres east of Dease Lake, British Columbia.
TCS Project Highlights
TCS is an undrilled copper-zinc target located 80 kilometres west of the Kutcho Copper project (Measured and Indicated resources of 22.8 Mt grading 1.52% copper, 2.18% zinc and 0.39 grams per tonne ("g/t") gold, and 12.8 Mt of Inferred resources grading 1.10% copper, 1.58% zinc, and 0.25 g/t gold)1
Recently identified geophysical anomalies coincident with anomalous surface geochemistry at TCS have defined three high priority targets
Located within an area of excellent regional infrastructure including access roads, power and paved highways providing access to port facilities
Northern British Columbia is a top tier mining jurisdiction including the Red Chris copper-gold mine and Brucejack gold mine (both operated by Newmont Corporation)
TCS was developed under Orogen's generative and project identification program in 2023 and is available for option or sale
Orogen acknowledges that the TCS project is situated in the traditional territory of the Tahltan Nation and is committed to developing a positive and mutually beneficial relationship based on respect and transparency.
Figure 1: Location Map
About the TCS Project
The TCS project consists of 1,850 hectares of gentle terrain in northwestern British Columbia approximately thirteen kilometres from Dease Lake. The project is hosted within the King Salmon allochthon, a 10-20 kilometre wide thrust and fault bounded block that contains the Kutcho VHMS deposit (Measured and Indicated resources of 22.8 Mt grading 1.52% copper, 2.18% zinc and 0.39 g/t gold, and 12.8 Mt of Inferred resources grading 1.10% copper, 1.58% zinc, and 0.25 g/t gold)1.
Exploration on the TCS project includes geological mapping, geochemical sampling, and geophysics that identified a window of outcropping bimodal metavolcanics coincident with anomalous copper and zinc in soils and associated float samples containing up to 3.2% copper and 3.5% zinc.
A 223 line-kilometre VTEM geophysical survey completed in 2023, identified several high priority conductors related to the anomalous surface geochemistry extending under a region of surficial cover and reworked sediments (Figure 2). These priority conductors are interpreted to be at the top of the folded bimodal volcanic section similar to the setting at the Kutcho project (Figure 2).
The conductors could be rapidly advanced to drill-ready massive sulphide targets with the potential to host high grade copper, zinc and potentially gold.
TCS is available for option or sale.
More details on the TCS property including a technical presentation and factsheet can be found at https://orogenroyalties.com/project-generation/project-generation/
Figure 2: Top. Tau VTEM imagery with high priority conductors identified by red dotted polygons. Also displays region of anomalous copper geochemistry in soils, outline of the prospective bimodal volcanic section and position of Line 1380. Bottom. Conductivity section 1380 looking west displaying the folded bimodal volcanic stratigraphy and location of the three high priority conductors at the folded top of the conductive section.
Acquisition terms
The Company has acquired a 100% interest in the TCS project from a syndicate of prospectors (the "Syndicate") by paying the Syndicate $25,000 cash and making exploration expenditures of $125,000.
After the third anniversary of the acquisition of the TCS project, the Company will pay the Syndicate $20,000 per annum, until the completion of 15,000 metres of drilling. If at any time the Company enters into a future agreement to option or sell the TCS project to which any payment (a "Future Payment") is received, the Syndicate will be entitled to receive 20% of the Future Payment. In the event a Future Payment involves a royalty interest on the TCS project, the Company will be able to purchase half of the Syndicate's royalty for $200,000 for each 0.1%.
Qualified Person Statement
All new technical data, as disclosed in this press release, has been verified by Laurence Pryer, Ph.D., P.Geo., VP. Exploration for Orogen. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.
Certain technical disclosure in this release is a summary of previously released information and the Company is relying on the interpretation provided by the relevant company. Additional information can be found on the links in the footnotes or on SEDAR+ (www.sedarplus.ca).
About Orogen Royalties Inc.
Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The Company's royalty portfolio includes the Ermitaño gold and silver Mine in Sonora, Mexico (2.0% NSR royalty) operated by First Majestic Silver Corp. and the Expanded Silicon Project (1.0% NSR royalty) in Nevada, U.S.A, being advanced by AngloGold Ashanti NA. The Company is well financed with several projects actively being developed by joint venture partners.
On Behalf of the Board
OROGEN ROYALTIES INC.
Paddy Nicol
President & CEO
To find out more about Orogen, please contact Paddy Nicol, President & CEO at 604-248-8648, and Marco LoCascio, Vice President, Corporate Development at 604-248-8648. Visit our website at www.orogenroyalties.com.
Orogen Royalties Inc.
1015 - 789 West Pender Street
Vancouver, BC
Canada V6C 1H2
info@orogenroyalties.com
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
1. https://kutcho.ca/kutcho-project/
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.
SOURCE: Orogen Royalties Inc.
Orla Mining Reports Positive Drilling Intersections and Metallurgical Results at Camino Rojo Sulphide Extensions
https://www.newswire.ca/news-releases/orla-mining-reports-positive-drilling-intersections-and-metallurgical-results-at-camino-rojo-sulphide-extensions-805467477.html
Orla Mining Ltd. Jun 26, 2024, 06:00 ET
VANCOUVER, BC, June 26, 2024 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA)
Prime Intersects 7 gpt Gold-Equivalent over 2m at Z-T
https://ca.finance.yahoo.com/news/prime-intersects-7-gpt-gold-100000074.html
Prime Mining Corp.
Tue, June 25, 2024 at 3:00 a.m. PDT·15 min read
PRMNF
-0.75%
Mineralization Remains Open Along Strike and at Depth Beyond Resource Pit
VANCOUVER, British Columbia, June 25, 2024 (GLOBE NEWSWIRE) -- Prime Mining Corp. (“Prime” or the “Company”) (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: 04V3
VIZSLA SILVER HITS VISIBLE GOLD IN HIGHEST GRADE INTERCEPT EVER AT PANUCO: 9,920 G/T SILVER & 663 G/T GOLD OVER 0.64 METRES TRUE WIDTH AT COPALA
https://www.newswire.ca/news-releases/vizsla-silver-hits-visible-gold-in-highest-grade-intercept-ever-at-panuco-9-920-g-t-silver-amp-663-g-t-gold-over-0-64-metres-true-width-at-copala-807208349.html
Vizsla Silver Corp. Jun 26, 2024, 06:00 ET
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, June 26, 2024 /CNW/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3
Generation Uranium Identifies Geological Features of Interest at its 100% Owned Yath Uranium Project in Nunavut, Canada
https://thenewswire.com/press-releases/1AD4Flm7M-generation-uranium-identifies-geological-features-of-interest-at-its-100-owned-yath-uranium-project-in-nunavut-canada.html
Vancouver, British Columbia, Canada, June 26, 2024 – TheNewswire – Generation Uranium Inc. ("Generation" or the "Company") (TSXV: GEN) (OTCQB: GENRF) (FRA: W85) is pleased to announce that following the recent review on its 100% wholly-owned Yath Uranium Project (“Yath”) in Nunavut, Canada, the Company has identified several geologically significant areas of interest on the property.
The VGR Trend contains radioactive boulders and structures extending over a three-kilometer conductive trend on the property.
The Bog Trend is identified as a radioactive outcrop and subcrop, and frost heaved boulders are found along three kilometers within the trend.
The Force Trend contains mud boils and subcrop with radioactive characteristics.
The Lucky Break area contains radioactive polymetallic sulphide and pitchblende.
VGR Trend: The VGR trend is located in the Yathykyed sub-basin, near the northwest corner of the Yath Property. This zone spans 5 kilometers along a fault line, showing high levels of radioactivity and favorable clay-silica alterations. It features a 3 to 7-meter-wide, steeply-dipping vein and fracture system made of carbonate and hematite, which contains radioactive and sulphide minerals. Radioactive boulders and structures can be traced for over 3,000 meters, making the VGR trend a promising target for mineral exploration.
Bog Trend: The Bog Trend is found in an area of broken basement rock cut through by dykes from the Christopher Island Formation. Previous studies identified a southwest-trending fault line that has yet to be drilled. Radioactive rocks and boulders have been found along a three-kilometer stretch, mostly covered by loose soil. The uranium and sulphide appear to be concentrated in areas where the rock has been fractured and altered by the intruding dykes.
Force Trend. The Force Trend is in the central part of the property, with gneissic rock and mafic schist underneath. It contains unique geological features such as radioactive mud boils and subcrop. These mud boils are areas where radioactive materials, likely including uranium, are brought to the surface by geothermal activity or pressure from below, creating visible mounds or boils. The subcrop are rock formations found just below the surface and not fully exposed above ground. Both features suggest the presence of uranium-bearing hematite breccias and veins, likely controlled by the area's geological structure.
Lucky Break Area: The Lucky Break area features several highly radioactive rocks containing multiple metals and pitchblende in quartz-carbonate breccia veins found just below the surface. The polymetallic sulphides are minerals composed of multiple metals, often including copper, lead, zinc, and nickel. When these sulphides are radioactive, it may indicate the presence of uranium or thorium, adding to the area’s exploration potential.
"I am thrilled about our latest achievement in identifying four promising zones on our promising uranium project at Yath,” stated Generation President and Chief Executive Officer, Anthony Zelen. “This marks a significant milestone in our mission to identify the key zones and characteristics of interest, as we work towards scaling up exploration activities on the property in the months ahead.”
With prior investments totaling over $5 million from past exploration and sampling activities at Yath, and the Company’s continuous analysis of vast amount of past data from these activities. Generation Uranium expects further insights as they emerge with the goal of enhancing our strategic approach regarding necessary preparations leading into a future drill campaign. This upcoming phase signifies a pivotal step in our commitment to advancing our understanding and unlocking the full potential of Yath.
Derrick Strickland, P. Geo. (L5669), a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed the scientific information that forms the basis for this news release and has approved the disclosure herein
For additional information on Yath and other company assets, please visit our investor presentation and website.
FOR FURTHER INFORMATION CONTACT
Anthony Zelen
President and Chief Executive Officer
Anthony@generationuranium.com
778-388-5258
About Generation Uranium
The Company is a natural resource company engaged in the exploration and development of mineral properties. The Company holds a 100% interest in the Yath Uranium Project, located in the Territory of Nunavut.
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.
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. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Fresnillo/Radius Gold: Drilling Commences at Radius Gold's Plata Verde Silver Project
Project Highlights:
Large scale historic underground bulk silver mining operation from 1800's.
Silver mantos occur over 500m x 300m area (exposed in historic mines) with observed thickness up to 30m.
Recently re-discovered by Radius, never tested by modern exploration methods.
Initial metallurgical tests indicate exceptional properties with cyanide leach recoveries averaging 93% for silver and in combination with flotation achieving 97% silver recovery (see news release January 30, 2023).
Initial, minimum 2000m drill program fully funded by Minera San Julian (see news release March 5, 2024).
https://thenewswire.com/press-releases/1Bz4FM8E5-drilling-commences-at-radius-gold-s-plata-verde-silver-project.html
June 26, 2024, Vancouver, British Columbia – TheNewswire – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to announce that diamond drilling has commenced at the Plata Verde silver project in Chihuahua, Mexico. Radius, in partnership with Minera San Julian, S.A. de C.V. (“Minera San Julian”), a wholly owned subsidiary of Fresnillo plc (“Fresnillo”) plan to complete a minimum of 2000m of diamond core drilling targeting bulk minable, underground silver resources at the historic Plata Verde mines. The drill program is fully funded by Minera San Julian as part of the option agreement (see news release, March 5, 2024) signed between the companies to jointly explore Plata Verde.
Bruce Smith, Radius Gold President and CEO, commented: “The Radius Gold team is excited to get started drilling at Plata Verde. The large-scale historic silver mines have never been drill-tested and are compelling targets. As one of the largest silver producers in the world, our partner, Fresnillo, brings significant expertise to this exploration program and our project team. We are encouraged by the results of surface and underground chip sampling, the metallurgical program, and the project’s history of bulk tonnage underground silver production. The large scale excavations inside these mines indicate that the historic miners were into a significant mineralized system and the clearly visible banded silver sulphides found on the walls and roofs of the mines add to our confidence in making a discovery at this project.”
Following the completion of the first-pass diamond drilling, additional drilling will be based on results, to be confirmed by the Radius and Fresnillo joint technical committee. Silver mineralization occurs as massive to crustiform banded barite calcite and quartz with silver chlorides, sulphosalt minerals and native silver infilling and cementing fractures and breccia within a basaltic/andesite extrusive volcanic. The basaltic/andesite host occurs at the base of the Upper Rhyolitic Volcanics of the Northern Sierra Madre.
A historic extensive network of anastomosing mining tunnels and cavities was completed by hand with hammer, chisel and black powder explosives, leaving behind large underground cavities up to 50m x 50m x 30m high. Throughout the mines roman numerals painted on the walls record up to 58 mining areas. The mining excavations define a strike extension of over 500m and up to 300m wide. The host volcanic unit is at least 60m thick.
Silver mineralization is observed within mantos with multiple large scale breccia zones, fracture fill, stockwork and disseminated style mineralization within the volcanic host. Drilling will target extensions of the manto systems and also feeder systems below the mantos.
Figure 1. Historic silver mines at Plata Verde, an anastomosing sequence of silver mines, excavated in the late 1800’s following silver mantos hosted within basaltic volcanics.
Click Image To View Full Size
Figure 2. Banded silver sulphides, with barite, calcite and silica with characteristic green silver chloride oxides.
Click Image To View Full Size
Drill Targets
Figure 3. Plata Verde mines showing planned drilling in 3D with historic mines and silver rock chip sampling.
Click Image To View Full Size
Plata Verde Project
The Plata Verde project, located in Chihuahua, Mexico, was re-discovered by Radius Gold, and is a historic, large-scale, underground, bulk tonnage silver mining operation. Plata Verde is located east of the historic Batopilas silver mining district (1708 to 1920) which reputedly produced over 300 million ounces of silver from high grade veins and structures.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico and Guatemala utilizing partnerships where appropriate to retain the Company’s treasury. Management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway. You may find more information on Radius Gold at www.radiusgold.com or www.sedarplus.ca.
ON BEHALF OF THE BOARD
Simon Ridgway
Executive Chairman
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s plans for its properties. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
KRR, OGC, NTH, NRN
Australian gold/nickel miner Karora Resources aka KRR announced it has filed the Management Information Circular for the proposed merger with fellow Aussie miner Westgold, with the vote on the merger to be held next month.
I didn't see any surprises in the filing compared to what we had already heard -- for each KRR shares, holders will receive 60.8 cents in cash and 2.524 shares of Westgold, which has agreed as part of the deal to pursie a listing on the TSX. There is also a Spinco holding certain minor KRR assets involved, but it remains unclear to me whether those will have any value.
I used to vote on these but given my relatively meagre shareholders I am just along for the ride, so I don't bother any more. If I was to vote, it would likely be in favour at this point, as no competing bid has emerged, though some folks I know think one will come along.
BTW, I have seen a lot of debate on the tax implications of the deal for holders of KRR.TO, particularly given the new capital gains taxation rules in Canada. My shares are in a tax sheltered account, though, so I didn't really pay attention.
https://ca.finance.yahoo.com/news/karora-resources-files-management-information-212200164.html
In the wake of the recent IPO on the Manila exchange of part of the subsidiary that owns the Didipio mine in the Philippines, Oceanagold aka OGC continues to clean up its balance sheet sheet by closing the sale of the Blackwater project in new Zealand, deemed surplus to needs, for proceeds of $30M cash. Given that if things proceed according to plan, OGC will be generating a lot offree cash flow going forward, I expect a re-rating of the stock as the implications of their recent financial moves sink in. This will only be enhanced if, as I expect, the PoG breaks out to new highs in the next year.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34710953
Nord Precious Metlas aka NTH released a 12-month exploration plan for their Castle East property in Ontario, which already has a small but high grade Inferred Resource of 274kt @ 8582 g/t Ag containing 7.56M oz Ag. Up till now NTH has found some interesting mineralization while poking around in various spots on the property, surface and underground, but now it looks they are going to be more serious and systematic in advancing Castle East.
The new exploration will be based on an extensive recompilation of historic and recent work on the property which in turn has generated a new geological understanding. A planned 30km of drilling will try to connect known zones of mineralization, particularly those close to the historic Capitol mine which can be used for access.
If this new modelling generates the results they hope, the Castle Mine property will be worth substantially more than it is now.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34712220
After a long break, Northern Shield aka NRN has released a new PR concerning their Root & Cellar Au/Ag/Cu/Te prospect in Newfoundland. Thanks to a thesis from a student at the University of Newfoundland, they are now able to distinguish three separate mineralizing events, which should help with finding the deeper lying porphyry they are looking for Channel sampling and trenching in the Conquest will resume shorrtly to follow up these insights.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34712279
Paladin’s Uranium Deal Signals M&A Push for Rich Canadian Deposits
https://ca.finance.yahoo.com/news/paladin-uranium-deal-signals-m-174836475.html
Jacob Lorinc
Mon, June 24, 2024 at 10:48 a.m. PDT·2 min read
FCUUF
-0.46%
(Bloomberg) -- Paladin Energy Ltd.’s C$1.14 billion ($833 million) offer to buy Canadian mining firm Fission Uranium Corp. is all about geography.
The all-stock deal will give Australia’s Paladin operational control of one of the most advanced mining projects in western Canada’s Athabasca Basin, a remote area in Saskatchewan that’s loaded with high-grade uranium. Fission’s asset is expected to open in 2029 and produce an annual average of 9.1 million pounds of the metal over a decade.
“The rationale is very compelling,” Paladin Chief Executive Officer Ian Purdy said in a Monday interview. “We see this as a fantastic asset.”
Fission is one of several junior mining firms racing to develop projects in the Athabasca region, along with NexGen Energy Ltd. and Denison Mines Corp. The region has become a hub of mining activity as supply concerns escalate and while countries warm to nuclear power as part of a global push to move away from fossil fuels.
Fission CEO Ross McElroy said that while the region holds high concentrations of uranium, few companies have the expertise to find and develop such projects.
“Having worked the majority of my geology career in the Athabasca Basin, I can tell you that it takes a great deal of expertise to properly explore and make discoveries like this one,” he said in an interview.
Paladin’s CEO said he expects more uranium dealmaking on the horizon. The price of the radioactive metal has more than tripled during the past five years, accelerating after Russia’s invasion of Ukraine sparked a newfound need for alternative sources of the reactor fuel.
“Regardless of where the uranium cycle is or how the industry’s doing, the combination of these two companies just makes fundamental sense,” Purdy said.
Paladin Energy to acquire Fission Uranium creating a clean energy leader
https://www.newswire.ca/news-releases/paladin-energy-to-acquire-fission-uranium-creating-a-clean-energy-leader-825153785.html
Fission Uranium Corp. Jun 24, 2024, 02:59 ET
CopAur Begins Drilling at Williams Property
https://www.newsfilecorp.com/release/214280
June 25, 2024 9:00 AM EDT | Source: CopAur Minerals Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2024) - CopAur Minerals Inc. (TSXV: CPAU) (OTCQX: COPAF) ("CopAur" or the "Company") Jeremy Yaseniuk, CEO at CopAur Minerals, is pleased to announce that the Company and Omega Pacific have commenced a maiden drill program at the Williams property in British Columbia's Golden Horseshoe.
The 2024 drilling campaign (phase 1) has commenced, focusing on expanding and extending the recently uncovered mineralization at drill hole WM22-02 within the property's GIC prospect. This area previously concluded in mineralization during the last drill campaign in 2022.
Current and upcoming phase 1 exploration highlights:
Up to 2,000 metres (m) of diamond drilling, including expansion drilling along strike and at depth surrounding drill hole WM22-02
WM22-02 returned 50 metres of 2.2 grams per tonne gold in 2022 and ended in mineralization, leaving its full width unknown
Phase 1 will execute a total of three drill holes, all from the same drill pad at GIC
Apex Geoscience Ltd. will coordinate and execute the phase 1 drill program. Apex has overseen several projects in the Golden Horseshoe, including Thesis Gold's Lawyers-Ranch project and Newmont's Tatogga project.
Jeremy Yaseniuk, CopAur CEO commented, "The commencement of drilling at Williams is a significant milestone for both companies. To fast-track a more detailed understanding of the mineralization at GIC, management has arranged to expedite assaying of the first hole, which will allow us to report on the program results as soon as possible this summer. We look forward to leveraging the significant geological understanding that Apex has of the Toodoggone district. They have managed and overseen discoveries and maiden resources in close proximity to our land package."
About CopAur
Copaur Minerals is associated with The Metals Group of companies including Altiplano Metals, Benchmark Metals (BNCH.V), Thesis Gold, Founders Metals and Emperor Metals. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.
Qualified Person
The scientific and technical information contained in this news release regarding Copaur Minerals Inc. has been reviewed and approved by Kristopher J. Raffle, P.Geo. (British Columbia), principal and consultant, of Apex Geoscience Ltd. of Edmonton, Alta., and a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: jeremyy@CopAur.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release contains forward-looking statements. These statements relate to future events or the Company's future performance including obtaining the necessary regulatory approvals for and completion of an option agreement on the Williams property with Omega Pacific Resources Inc. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements including if Omega Pacific will be able to raise sufficient funding to exercise the options on the Williams Property or if it will exercise any of the options granted under the option agreement. Forward-Looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
SOURCE: CopAur Minerals Inc.
Brixton Metals Begins Drilling at its Cirque Copper Porphyry Target
https://ca.finance.yahoo.com/news/brixton-metals-begins-drilling-cirque-113000016.html
Brixton Metals Corporation
Tue, June 25, 2024 at 4:30 a.m. PDT·4 min read
BBBXF
+3.70%
VANCOUVER, British Columbia, June 25, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has started its maiden drill program at the Cirque Copper Porphyry Target which is located 3km east from the Camp Creek Porphyry discovery on its wholly owned Thorn Project.
Highlights of the Cirque Copper Target
Cirque is a multi-kilometer copper porphyry target on the Thorn Project
Surface exposures of copper mineralization (vein-hosted and disseminated chalcopyrite) have been identified over a 1km by 2km area.
Rock and soil geochemistry contain elevated copper, molybdenum and MDRU’s Porphyry Index (MPIx) anomalies
The target is supported by a large, near-surface magnetic and coincident conductivity geophysical anomaly
VP of Exploration, Christina Anstey stated, “We are thrilled to launch Brixton’s first drill campaign on the Cirque Porphyry Target. Given that porphyry deposits often form in clusters, the proximity of favorable mineralized intrusions to the known Camp Creek Porphyry makes this area particularly promising. The significant intervals of chalcopyrite mineralization observed on the surface, along with coincident geophysical signatures, is very encouraging.”
Figure 1. Thorn Project, Copper Geochemistry and 2024 Target Areas.
CQ_NR__Figure1
Figure 2. Surface Rock Samples from the Cirque Target, assays pending. Sample D132719 showing breccia hosted chalcopyrite mineralization and associated silica-potassium-feldspar alteration. Sample D131511 showing sericite and potassium-feldspar alteration of Windy Table intrusive.
CQ_NR_Figure2
Figure 3. BQ sized core from Julian Mining’s 1965 Cirque Program. Select unanalyzed core containing chalcopyrite and molybdenite in quartz vein.
CQ_NR_Figure3
Figure 4. BQ sized core from Julian Mining’s 1965 Cirque Program. Select unanalyzed core containing disseminated chalcopyrite and pyrite.
CQ_NR_Figure4
About the Cirque Copper Target
Cirque is a copper porphyry target located 3 kilometers east of the Camp Creek Porphyry Target and immediately north of the Outlaw Sediment-hosted Gold Target. The target is defined by a 2km by 1km northwest trending surface copper anomaly with a large portion of the target area covered by glacial alluvium material masking the underlying geology.
Late Cretaceous Windy Table volcanic rocks and associated Windy Table Suite Intrusions are host to porphyry-style mineralization and alteration at Cirque. Using the MDRU Porphyry Index (MPIx) on the local soil geochemistry data, a ratio of proximal and distal elements in a copper porphyry system ([(Cu/10) +Mo+(10xW)+(20xSn)]/[ (5xSb)+(20xTl)+Ag+As+Li]), Brixton Metals has outlined a 1km by 2km anomalous area coincident with the Cretaceous intrusion centers, jarosite and goethite anomalies, and mapped pyrite-chalcopyrite occurrences.
Quartz-chalcopyrite veins sampled in the area to the northwest of this historic drilling returned 1.6% Cu, 0.11 g/t Au, and 12.75 g/t Ag. Disseminated pyrite and chalcopyrite mineralization is observed throughout windows of surface outcrop within the overburden and is hosted in both Windy-Table volcanics and associated intrusions. Mineralization coincides with widespread silica-sericite-pyrite alteration zones as well as localized zones of potassium-feldspar and sericite alteration. The broad occurrences of copper mineralization and associated alteration in conjunction with favorable magnetic signatures and anomalous porphyry-index indicators suggest that a potential Cu-Mo porphyry system at Cirque remains untested.
Historic drilling in the Cirque area by Julian Mining in 1965 intercepted sporadic copper mineralization throughout thirteen shallow holes where limited select sections of core were analyzed for copper and molybdenum only. Some of the unsampled core hosted disseminated and vein hosted chalcopyrite.
Qualified Person (QP)
Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the Company who is a qualified person as defined by National Instrument 43-101. Mr. James has verified the referenced data disclosed in this press release and has approved the technical information presented herein.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
For Investor Relations inquiries please contact: Mr. Michael Rapsch, Senior Manager, Investor Relations: email: michael.rapsch @Waitn4Sid-9707
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.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Links:
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Minaurum Engages Independent Mining Consultants Inc. for Mineral Resource Estimate at Alamos Silver Project
https://www.newsfilecorp.com/release/213800
June 25, 2024 8:30 AM EDT | Source: Minaurum Gold Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2024) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) ("Minaurum" or "Company") is pleased to announce it has engaged Independent Mining Consultants Inc. ("IMC") to complete an initial mineral resource estimate at its flagship 100%-owned Alamos silver project ("Alamos") in Sonora State, Mexico. The NI 43-101 compliant Mineral Resource Estimate will initially focus on the Europa and Promontorio silver veins. An IMC qualified person (QP) will be on site and commence work in July 2024.
"We are very pleased to appoint IMC to complete an initial resource estimate at the Alamos silver project," stated Darrell Rader, President and CEO of Minaurum Gold. "The resource estimate should be finished in the fourth quarter of 2024 and will incorporate results from our upcoming drill program. IMC has considerable experience in Mexico having worked for Orla Mining and Alamos Gold. As the only recent silver discovery in Mexico with a mining permit, this is the next step to advance and add significant value to our project."
IMC has extensive international experience with a 40-year track record of producing independent assessments of resources, reserves, audits, and project evaluations including preliminary assessment reports, mine planning, and optimization. IMC's personnel are Qualified Persons under the NI 43-101 standard and have provided QP resource-estimation services for several Mexican projects including Alamos Gold's Mulatos and La Yaqui - Cerro Pelon mines, Argonaut Gold's Magino project, Lumina Gold's Cangrejos project, and Orla Mining's Camino Rojo project. IMC is based in Tucson, Arizona.
Minaurum's technical team is confident that the planned resource work program will not only result in calculating an initial NI 43-101 compliant mineral resource estimate, but also expand the understanding of the mineralized envelope and geology within the underexplored Alamos district.
Scope of Work
Review Database and Complete QAQC Analysis - An independent analysis of the QAQC data that is regularly collected by Minaurum at Alamos.
Review Existing Geologic Interpretation - A review of the cross sections and/or level plans to guide the development of the mineralization controls and geologic model.
Qualified Person Site Visit - An IMC QP will visit the property to understand the geology, data and sample collection, and controls on mineralization.
Geologic Interpretation and Model Assembly - A model of vein boundaries based on a combination of geologic logging and economic cutoff grades will be developed with the use of statistical tools and conventional wire frame interpretation on the Europe and Promontorio vein systems.
Metallurgical Process Review - Results to date will be reviewed to establish a supportable basis for determination of cutoff grade.
Geotechnical Data Review - Rock Quality Designation (RQD) and core-recovery data will be reviewed in order to make approximate judgements of mining methods. Any existing analysis of the geotechnical data will be reviewed and incorporated.
Resource-Definition Parameters - Economic input parameters for determination of mineral resources alongside any work completed by Minaurum will be integrated into the estimate.
Mineral Resource Estimate - Underground mineral resources will be established to determine the component of the mineralization that has reasonable expectation of economic extraction.
NI 43-101-compliant Mineral Resource Estimate and Report - A complete independent technical report by IMC will be submitted along with the appropriate certificates and consents to publish.
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Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade 100%-owned fully production-permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier One precious metals projects. Through a portfolio containing silver projects totaling 37,928 hectares; gold projects totaling 25,933 hectares; and copper projects totaling 12,856 hectares, Minaurum provides significant exposure to precious and base metals.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu - Investor Relations and Corporate Development Manager
(778) 330 0994 or via email at pannu@minaurum.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
___________________________________________________________________________
1570- 200 Burrard Street
Vancouver, BC V6C 3L6
Phone: 778 330-0994
www.minaurum.com
info@minaurum.com
Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person as defined by National Instrument 43-101, reviewed and verified the assay data, and has approved the disclosure in this News Release. Historical data reported in this news release has not been verified.
Cautionary Note Regarding Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information.
Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Minaurum Gold Inc.
Solaris Reports 11,570 g/t Silver and 12.3 g/t Gold in First Assays From Sampling Epithermal Mineralization Discovered As Part of Warintza Regional Exploration Program
https://ca.finance.yahoo.com/news/solaris-reports-11-570-g-103000229.html
Solaris Resources
Tue, June 25, 2024 at 3:30 a.m. PDT·5 min read
SLSR
-1.85%
VANCOUVER, British Columbia, June 25, 2024 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; NYSE: SLSR)