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OGC, KDK, MAI
Oceanagold aka OGC released more details about the upcoming IPO it has put together to be listed on the Manila Stock Exchange. They will be selling 20% of the shares of the Philippine subsidiary that owns its producing Didipio Au/Cu mine in the Philippines to raise $106M, which we are told will be used primarily to pay down debt. (OGC's debt totalled $232M at the end of 2023.)
Apparently the IPO, which is the first this year on the Manila exchange, is very popular with both institutional and institutional investors. Note that this price values Didipio at over half a billion dollars.
https://ca.finance.yahoo.com/news/oceanagold-announces-ipo-pricing-20-110000553.html
In response, Scotia issued a new analyst report on OGC calling the impact Positive, primarily because the shares were priced almost 25% above Scotia's expectations. They also expect OGC to generate over $200M FCF at current spot prices. They kept OGC at Sector Outperform with a target of $4.
Kodiak Copper aka KDK released the remainder of the drill results from its MPD property in southern BC, and though you would never know it by how the shares are trading, it was good news. The first drill holes under a soil anomaly appear to have caught the edge of another Cu/Au porphyry, dubbed the 1516 zone, to go along with their previous discovery, the Gate Zone. This gives further credence to KDK's model of MPD as containing multiple porphyries within two large clusters, along with a number of already known porphyries. This year's exploration campaign will further explore the 1516 zone.
The remainder of the released holes were from the West, South, and Man Zones, and served to confirm large areas of mineralization from surface to depth, and likewise will be followed up this year. Expect the details of this year's exploration plan to be released soon.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34647435
Even as they work to optimize their first Mexican gold mine and build the second, Minera Alamos aka MAI has in the background been working away on their Mexican copper assets, most recently moving the Los Verdes and Potreritos properties into a subsidiary, presumably as a precursor to eventually spinning it out into a separate listed company that operates a copper hub consisting of what they are calling 'low capital intensity copper assets'.
Now we hear about the next step in this process, with the announcement that MAI will be acquiring a private company called Minera Copper Gold which owns the nearby Suaqui Verde copper prospect. Suaqui Verde is a typical Mexican copper porphyry with an oxide cap over deeper sulphide mineralization, and is located 50km from Los Verdes (and from MAI's operating Santana gold mine). The property has good road access and nearby grid power, and has been the subject of historical drilling and Resource Estimates.
I expect it won't be long before we hear about the start of exploration in an attempt to upgrade those resources.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34648784
SILVERCORP TO ACQUIRE ADVENTUS, CREATING A GEOGRAPHICALLY DIVERSIFIED MINING COMPANY BY ADDING THE ADVANCED EL DOMO PROJECT
https://www.newswire.ca/news-releases/silvercorp-to-acquire-adventus-creating-a-geographically-diversified-mining-company-by-adding-the-advanced-el-domo-project-887484848.html
Adventus Mining Corporation Apr 26, 2024, 05:34 ET
Trading Symbols: TSX/NYSE AMERICAN: SVM
TSXV: ADZN / OTCQX: ADVZF
VANCOUVER, BC and TORONTO, April 26, 2024 /CNW/ - Silvercorp Metals Inc. ("Silvercorp") (TSX: SVM) (NYSE American: SVM) and Adventus Mining Corporation ("Adventus") (TSXV: ADZN) (OTCQX: ADVZF) are pleased to announce that the parties have entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which Silvercorp has agreed to acquire all of the issued and outstanding common shares of Adventus (the "Transaction") by way of a plan of arrangement (the "Arrangement").
Under the terms of the Arrangement Agreement, each holder of the common shares of Adventus (each, an "Adventus Share") will receive 0.1015 of one Silvercorp common share (each, a "Silvercorp Share") in exchange for each Adventus Share (the "Exchange Ratio") at the effective time of the Transaction. The Exchange Ratio implies consideration of C$0.50 per Adventus Share based on the 20-day volume-weighted average prices ("VWAP") of Silvercorp Shares on the Toronto Stock Exchange (the "TSX") on April 25, 2024. This represents a premium of 31% based on the 20-day VWAP of Silvercorp on the TSX and Adventus on the TSX Venture Exchange (the "TSXV"), both as at April 25, 2024. The implied equity value of the Transaction is approximately C$200 million on a fully-diluted in-the-money basis. At closing, existing Silvercorp and Adventus shareholders will own approximately 81.6% and 18.4%, respectively, of Silvercorp shares outstanding on a fully-diluted in-the-money basis.
Strategic Rationale for Silvercorp
Provides immediate asset, geographic and metal diversification
Pro forma asset portfolio consists of exposure to China and Ecuador, increased gold exposure, as well as metals (silver, copper, lead and zinc) that are key for a low-carbon future
Addition of the high margin, advanced El Domo project should significantly enhance Silvercorp's near-term production profile
Investment Protection Agreement for the project in place with the Government of Ecuador
Key permits secured, including the Environmental License and tailings storage approval
Existing US$175.5 million stream with Wheaton Precious Metals International Ltd. ("Wheaton"), combined with Silvercorp's existing cash and cash equivalents of approximately US$200 million is more than sufficient to fully fund El Domo through construction
Silvercorp has the technical capabilities to bring El Domo into production on an accelerated basis, having built eight mines in its current operations, along with three flotation mills of similar size to El Domo (with a new 1,500 tpd flotation mill under construction at Ying), and three tailings storage facilities
Transaction is accretive on a net asset value per share, as well as on a Mineral Reserves and Mineral Resources basis
Adventus' PEA stage Condor asset provides further optionality and upside, including:
2021 PEA for Condor North highlighted a 12-year mine life with average annual payable production of 187 thousand oz of gold and 758 thousand oz of silver at a by-product AISC of US$839/oz over the life of the mine
Indicated Mineral Resources containing 2.3 million oz of gold and 12.8 million oz of silver and Inferred Mineral Resources containing 4.3 million oz of gold and 18.1 million oz of silver
Re-rating opportunity resulting from increased scale, significantly enhanced growth profile and establishing a presence in an emerging, mining-friendly jurisdiction
Silvercorp Chairman and CEO, Dr. Rui Feng, said:
"This transaction will create a new globally diversified green metals producer. It presents the opportunity for us to leverage our technical expertise and strong balance sheet to unlock value for all shareholders by constructing the El Domo project. We look forward to working with the Government of Ecuador and local communities, as well as leveraging the existing Adventus and Curimining teams, to grow our business in Ecuador which will generate sustainable economic, social, and environmental value for all stakeholders.
We would also like to acknowledge the hard work and contributions to the El Domo project by our future partners at Salazar Resources. Silvercorp will continue to work collaboratively with Salazar as El Domo is advanced into construction and ultimately operations."
Benefits for Adventus Shareholders
Immediate and significant premium to Adventus shareholders of 31% on a 20-day VWAP basis
Exposure to Silvercorp's high quality and profitable silver mines, strong balance sheet and track record of returning capital to shareholders, while retaining participation in future upside from El Domo, Condor and Adventus' exploration portfolio
De-risks development of El Domo by leveraging Silvercorp's technical capabilities and financial strength, its history of successful project construction, and its in-depth access to equipment supply chains that could result in cost savings for El Domo construction
Potential for a further premium through a re-rating of Silvercorp shares as El Domo is advanced to production
Option to realize cash proceeds given trading liquidity of Silvercorp shares (~US$8 million per day on the TSX and NYSE American)
Continued commitment to best in class ESG practices by Silvercorp, which has an ESG rating of A from MCSI as well as EMS ISO 14001 and ISO 45001 certifications across its operations
Adventus President, CEO and Director, Christian Kargl-Simard, said:
"I am very proud of the accomplishments of our entire Adventus team, together with Salazar Resources and other partners since 2017, highlighted by the advancement of El Domo from an inferred resource to the construction ready project that it is today and the consolidation of our significant exploration portfolio in Ecuador. Our commitment to, and public record of transparency, technical excellence, environmental stewardship, and the highest standards of social responsibility have been the backbone of our success. I believe that Silvercorp strongly shares our values, in addition to bringing financial strength and experience from global operations. Combining the companies positions us well to deliver on El Domo and our other projects in collaboration with the government, local communities, and all stakeholders."
About the El Domo Project
The advanced high-grade copper-gold El Domo project, 75% owned by Adventus, covers approximately 172 ha with a buffer of 118 ha (2.9 km2 in total). El Domo is located in central Ecuador, approximately 150 km northeast of the major port city of Guayaquil - about a 3-hour drive. The project spans low-lying hills and plains between 300 to 900 m above sea level.
In 2017, Adventus entered into an agreement with Salazar Resources Ltd. ("Salazar") pursuant to which Adventus earned its majority interest in the Curipamba project by funding exploration and development expenditures of US$25 million over five years and meeting certain development obligations. In 2021, Adventus announced it had completed its earn-in option to obtain majority ownership (75%) of the Curipamba project. Adventus will fund capital costs to production and receive 95% of the free cash flows until all of its investments since 2017 are repaid, after which the project cash flows will be shared 75% to Adventus and 25% to Salazar.
In December 2021, Adventus published a feasibility study covering the open-pit Mineral Reserve of the El Domo – Curipamba project, outlining attractive operating metrics and robust economics:
Proven and Probable Mineral Reserves of 6.5 million tonnes at 1.93% Cu, 2.52 g/t Au, 2.49% Zn, 45.7 g/t Ag, 0.25% Pb
A 10-year mine life with average annual production of 10,463 tpa copper and 21,390 tpa copper equivalent over the life-of-mine
Production C1 cash cost of US$1.14/lb and AISC of US$1.26/lb copper equivalent
Initial capital cost (including refundable VAT) of US$248 million with a payback period of 2.6 years, after-tax IRR of 32% and NPV8% of US$259 million, utilizing US$3.50/lb Cu, US$1,700/oz Au, US$1.20/lb Zn, US$23.00/oz Ag and US$0.95/lb Pb
Concurrent Private Placement
Concurrent with entering into the Arrangement Agreement, Silvercorp and Adventus entered into an investment agreement pursuant to which Silvercorp will subscribe for 67,441,217 Adventus Shares at an issue price of C$0.38 per share, or C$25,627,662 in the aggregate (the "Placement"). Upon completion of the Placement, Silvercorp will hold approximately 15% of the total issued and outstanding shares of Adventus. Proceeds from the Placement will be used to (i) repay the amounts outstanding under a credit facility with Trafigura Pte Ltd. (the "Trafigura Facility") in the amount of approximately C$9.9 million, which includes penalties payable for the early repayment under the facility, (ii) fund the settlement of the outstanding amounts payable pursuant to a convertible loan agreement (the "Altius Loan") between Adventus and Altius Resources Inc. ("Altius") in the amount of approximately C$9.6 million, (iii) fund normal course activities at the El Domo project in the amount of approximately C$2.7 million, and (iv) fund general working capital expenses in the amount of C$3.4 million, which expenses are expected to include funding of early development expenditures to advance construction of the El Domo project and fund general and administrative expenses between announcement and closing of the Transaction.
The funding of the above listed expenses through the Placement was a critical factor in Silvercorp determining to proceed with the Transaction, as the majority of the expenses must be paid prior to the closing of the Transaction and Adventus does not have sufficient cash on hand to fund these costs. Silvercorp has requested the repayment of the Altius Loan as under the terms of this loan, Altius has the right to increase its royalty on the El Domo project. It is Silvercorp's view that if this royalty right was exercised, it would have a negative impact on the project economics. Silvercorp has also requested the repayment of the Trafigura Facility, which matures on June 30, prior to the closing of the Transaction. The remaining use of proceeds as set out above, are being directed towards general, administrative, project maintenance and project advancement expenditures, which expenditures will allow Adventus to keep the projects in good standing and continue or commence project development activities. Silvercorp views the funding of these expenses to be essential in terms of maintaining the goodwill of the Company within the local community and the various levels of government.
The completion of the Placement has been conditionally approved by the TSXV and remains subject to final acceptance by the TSXV on behalf of Adventus for the listing of the Adventus Shares to be issued to Silvercorp. The Adventus Shares to be issued to Silvercorp will be subject to a statutory four-month hold period under applicable securities laws. Completion of the Placement and the repayment of indebtedness does not provide a guarantee that the Transaction will be completed.
Transaction Summary
Under the terms of the Transaction, Silvercorp will acquire all the issued and outstanding Adventus Shares (other than Adventus Shares owned by Silvercorp at the effective time of the Transaction) and Adventus shareholders will receive 0.1015 Silvercorp Shares for each existing Adventus Share held. All outstanding Adventus stock options and warrants will become exercisable for Silvercorp Shares, with the number of Silvercorp Shares issuable on exercise and the exercise price adjusted in accordance with the Exchange Ratio. All outstanding Adventus restricted share units will immediately vest upon closing of the Transaction and be settled in cash, funded by Silvercorp through Adventus.
The Transaction will be carried out by way of a court-approved Arrangement under the Canada Business Corporations Act and a resolution to approve the Transaction will be submitted to Adventus shareholders and holders of Adventus stock options and restricted share units at a special meeting of securityholders expected to be held on or about June 28, 2024 (the "Special Meeting"). The Transaction will require approval by (i) 66 2/3% of the votes cast by Adventus shareholders and holders of options and restricted share units voting as a single class, and (ii) a simple majority that excludes those not entitled to vote in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Each of the directors and senior officers of Adventus, Mr. Ross Beaty and Wheaton Precious Metals Corp., representing in aggregate approximately 23% of the issued and outstanding Adventus Shares, have entered into voting support agreements with Silvercorp and have agreed to vote in favour of the Transaction at the Special Meeting in accordance with those agreements. In addition, Salazar has entered into an agreement with Silvercorp whereby they have indicated they will support the Transaction.
In addition to Adventus securityholder and court approval, the Transaction is also subject to the satisfaction of certain other closing conditions customary for a transaction of this nature. The Transaction has been conditionally approved by the TSXV but remains subject to final approval of the TSXV on behalf of Adventus, and approval of the TSX and NYSE American on behalf of Silvercorp, including the acceptance for listing of the Silvercorp Shares to be issued in connection with the Transaction. The Transaction is expected to be completed in the third quarter of 2024.
The Arrangement Agreement includes representations, warranties, covenants, indemnities, termination rights and other provisions customary for a transaction of this nature. In particular, the Arrangement Agreement provides for customary deal protections, including a non-solicitation covenant on the part of Adventus and a right for Silvercorp to match any Superior Proposal (as defined in the Arrangement Agreement). The Arrangement Agreement includes a termination fee of C$10 million, payable by Adventus, under certain circumstances (including if the Arrangement Agreement is terminated in connection with Adventus pursuing a Superior Proposal).
Boards Approvals and Recommendations
The board of directors of Adventus (the "Adventus Board") has unanimously approved the Transaction and recommends that Adventus shareholders vote in favour of the Transaction at the Special Meeting.
Cormark Securities Inc., financial advisor to Adventus, has provided an opinion to the Adventus Board, stating that, based upon and subject to the assumptions, limitations and qualifications set forth therein, the consideration to be received by Adventus shareholders pursuant to the Transaction is fair, from a financial point of view, to Adventus shareholders. Additionally, Raymond James Ltd., has provided an independent opinion to the Adventus Board, stating that, based upon and subject to the assumptions, limitations and qualifications set forth therein, the consideration to be received by Adventus shareholders pursuant to the Transaction is fair, from a financial point of view, to Adventus shareholders.
Further details regarding the terms of the Transaction are set out in the Arrangement Agreement, which will be publicly filed by Adventus under its profile on SEDAR+ at www.sedarplus.ca. Additional information regarding the terms of the Arrangement Agreement, the background to the Transaction, the rationale for the recommendations made by the Adventus Board and how Adventus shareholders can participate in and vote at the Special Meeting to be held to consider the Transaction will be provided in the management information circular for the Special Meeting which will also be filed at www.sedarplus.ca. Adventus shareholders are urged to read these and other relevant materials when they become available.
Advisors and Counsel
BMO Capital Markets is acting as financial advisor to Silvercorp. McCarthy Tétrault LLP and FBPH Abogados are acting as Silvercorp's Canadian and Ecuadorian legal advisors, respectively.
Cormark Securities is acting as financial advisor to Adventus. Bennett Jones LLP and AVL Abogados are acting as Adventus' Canadian and Ecuadorian legal advisors, respectively.
Conference Call / Webinar Details
Silvercorp and Adventus will host a joint conference call to discuss the Transaction on April 26, 2024 at 8:00 am EST / 5:00 am PST. Participants are advised to dial in five minutes prior to the scheduled start time of the call. A presentation will be made available prior to the webcast. Participants may dial in using the numbers below or by accessing the webcast link.
Toll-free in the U.S. and Canada: 1-888-664-6383
All other callers: 1-416-764-8650
Register to join via webcast: https://app.webinar.net/zj1waBlAZdb
Qualified Persons
Guoliang Ma, P. Geo., Manager of Exploration and Resources of Silvercorp Metals Inc. and Christian Paramo, P. Geo., Senior Geologist of Adventus Mining Corporation, both qualified person under NI 43-101, have approved the scientific and technical information related to the operations matters contained in this news release.
Early Warning Information
Silvercorp does not currently own any Adventus Shares. Following completion of the Placement, Silvercorp will own 67,441,217 Adventus Shares (the "Placement Shares"), representing approximately 15% of the issued and outstanding Adventus Shares. The Placement Shares were issued to Silvercorp at an issue price of C$0.38 per share or C$25,627,662 in the aggregate. Following the completion of the Transaction, Silvercorp will own 100% of the issued and outstanding Adventus Shares. An early warning report will be filed by Silvercorp in accordance with applicable securities laws and will be available on SEDAR+ at www.sedarplus.ca or may be obtained directly from Silvercorp upon request at (604) 669-9397. Silvercorp's head office is located at Suite 1750-1066 W. Hastings Street Vancouver, BC Canada V6E 3X1.
Adventus Personnel Update
Adventus announces that Luc Vets, has been appointed as Project Consultant effective May 1, 2024. Luc will succeed Dustin Small who will be leaving Adventus by April 30, to pursue other opportunities. We wish Dustin every success in his future endeavours. Luc is a seasoned engineer and project manager with over 30 years of end-to-end project execution experience in both the mining and industrial sectors throughout various continents in the world. Luc has a dual mechanical & electrical degree from University of Port Elizabeth with a Master in High Voltage Engineering as well as a general MBA from James Cook University.
About Silvercorp
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. Silvercorp's strategy is to create shareholder value by 1) focusing on generating free cash flow from long life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and ESG.
About Adventus
Adventus Mining Corporation is an Ecuador-focused copper-gold exploration and development company. Adventus is advancing the majority-owned Curipamba copper-gold project, which has a completed feasibility study on the shallow and high-grade El Domo deposit. With the recent merger with Luminex Resources Corp., Adventus Mining owns the Condor gold project and a large exploration project portfolio that spans over 135,000 hectares – one of the largest holdings in Ecuador. The company's strategic shareholders include Ross Beaty's Lumina Group, Altius Minerals Corporation, Wheaton Precious Metals Corp., and significant Ecuadorian investors.
This announcement has been approved for distribution by the Board of Directors of each of Silvercorp and Adventus.
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
This news release includes "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 securities laws relating to, among other things, the anticipated benefits of the Transaction, the strategic rationale for the Transaction, the anticipated use of the proceeds of the Placement, the timing and anticipated receipt of required shareholder, regulatory court, stock exchange or other approvals, the ability of the parties to satisfy the other conditions to the closing of the Transaction and the anticipated timing for closing of the transaction. Forward-looking information may in some cases be identified by words such as "will", "anticipates", "expects", "intends" and similar expressions suggesting future events or future performance.
We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause our current objectives, strategies and intentions to change. Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We cannot guarantee that any forward-looking information will materialize and you are cautioned not to place undue reliance on this forward-looking information. Any forward-looking information contained in this news release represent expectations as of the date of this news release and are subject to change after such date. However, we are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.
Forward-looking information is provided herein for the purpose of giving information about the Transaction referred and its expected impact. Readers are cautioned that such information may not be appropriate for other purposes. Completion of the Transaction is subject to customary closing conditions, termination rights and other risks and uncertainties including court and shareholder approval. Accordingly, there can be no assurance that the Transaction will occur, or that it will occur on the terms and conditions contemplated in this news release. The Transaction could be modified, restructured or terminated. There can also be no assurance that the strategic benefits expected to result from the Transaction will be fully realized. In addition, if the transaction is not completed, and each of the parties continues as an independent entity, there are risks that the announcement of the Transaction and the dedication of substantial resources of each party to the completion of the Transaction could have an impact on such party's current business relationships (including with future and prospective employees, customers, distributors, suppliers and partners) and could have a material adverse effect on the current and future operations, financial condition and prospects of such party.
A comprehensive discussion of other risks that impact Silvercorp and Adventus can also be found in their public reports and filings which are available under their respective profiles at www.sedarplus.ca.
SOURCE Adventus Mining Corporation
For further information: Silvercorp Metals Inc., Lon Shaver President, Phone: (604) 669-9397, Toll Free 1(888) 224-1881, Email: investor@Silvercorp.ca Website: www.Silvercorp.ca; Adventus Mining Corporation, Christian Kargl-Simard, President, CEO and Director Phone: (416) 230 3440, Email: christian@adventusmining.com, Website: www.Adventusmining.com
West High Yield Resources Publishes Public Notice of Application for Record Ridge Magnesium Project and Announces Second Tranche Closing of Private Placement
https://www.newsfilecorp.com/release/206076
April 18, 2024 3:00 PM EDT | Source: West High Yield (W.H.Y.) Resources Ltd.
Calgary, Alberta--(Newsfile Corp. - April 18, 2024) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") is pleased to announce another milestone in the mining permit application process with the posting of its "PUBLIC NOTICE OF APPLICATION" (the "Public Notice"), as well as the second tranche closing (the "Second Tranche Closing") of its previously announced private placement offering (the "Offering") of units (the "Units").
Publication of Notice of Application
The Public Notice, which is a requirement in the Company's permit process as requested by the British Columbia Ministry of Mines and Low Carbon Innovation, was published on April 18, 2024 in the Rossland News (Follow the link to Rossland News - Notice of Application) and the Trail Times (Follow the link to Trail Times News - Notice of Application). The Public Notice pertains to the submission of the Company's "Joint Mines Act and Environmental Management Act Permit Application" (the "Application") for its Record Ridge Industrial Mineral Mine project (the "Project"). The Application, filed with the Chief Inspector of Mines, aligns with Part 10.2.1 of the Health and Safety Reclamation Code for Mines in British Columbia.
Located approximately 7.5 km west-southwest of Rossland, British Columbia, the proposed Project spans Mineral Claim #514607 (318 ha) and Mineral Claim #513794 (127 ha). Under the review of the Regional Mines Office of the British Columbia Ministry of Energy, Mines and Low Carbon Innovation, the Project invites public comments from stakeholders and interested parties.
The Project aims to extract magnesium-bearing serpentinite rock at a rate not exceeding 200,000 tonnes per year. Operations entail conventional open pit methods, including drilling, mechanical ripping/blasting, loading, crushing, and off-site transportation of crushed rock to Washington State for processing by a third-party facility.
In adherence to British Columbia Environmental Management Act standards, the proposed effluent discharge from the Project will be treated to meet specific parameters before release into the upper reach of Sophia Creek, British Columbia. The effluent discharge, originating from water in contact with the mining operation, will undergo sedimentation pond treatment, with characteristics including pH levels estimated between 6 to 9 and controlled levels of various elements.
Second Tranche Closing
In addition to the foregoing and further to its news releases of February 26, 2024, March 14, 2024 and April 10, 2024, the Second Tranche Closing under the Offering consisted of the issuance of 1,210,000 Units for total proceeds of $302,500.
Each Unit consists of one (1) Common share of the Company (each, a "Common Share") and one (1) Common Share purchase warrant (each, a "Warrant"). Each Warrant, together with CAD$0.35, entitles the holder thereof to acquire one (1) additional Common Share until April 18, 2025. All securities comprising the Units issued on the Second Tranche Closing will be subject to a trading hold period expiring four months plus one day from the date of issuance.
The proceeds from the Second Tranche Closing will be used to support the Company in furthering its permitting process and covering general working capital.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral magnesium, silica, and nickel deposits using green processing techniques to minimize waste and CO2 emissions.
The Company's Record Ridge magnesium deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") Preliminary Economic Assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.
Contact Information:
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: frank@whyresources.com
Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
Email: barry@whyresources.com
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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: West High Yield (W.H.Y.) Resources Ltd.
Minera Alomos' Copper Subsidiary Acquires Suaqui Verde Copper Project in Sonora, Mexico
https://www.newsfilecorp.com/release/206958
April 26, 2024 9:26 AM EDT | Source: Minera Alamos Inc.
Toronto, Ontario--(Newsfile Corp. - April 26, 2024) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to announce the execution of merger agreements between Minera's Mexican subsidiary, Cobre 4H de Sonora de Mexico ("Cobre"), and Minera Gold Copper de Sonora, S. DE R.L. de C.C ("Minera Gold Copper") an arms-length Mexican company. Pursuant to the agreements, share ownership in the Cobre subsidiary will be divided between Minera Alamos (50%) and the existing shareholders of Minera Gold Copper (50%). The combined subsidiary will now own Minera's Los Verdes and Potreritos copper projects as well as Minera Gold Copper's Suaqui Verde copper project as well as certain rights to additional surrounding claims associated with the Suaqui Verde copper district.
The acquisition of the Suaqui Verde project complements the Company's Los Verdes and Potreritos copper projects and is a key project in a pipeline of low capital intensity copper development assets that have the potential to form a regional copper production "hub." Ultimately this merger will form the basis of a new copper company initially incubated and funded at the subsidiary level, with the potential to become a public, independently run copper development and production entity.
Highlights of Acquisition (update)
Suaqui Verde is a classic porphyry copper deposit that is widely exposed at the topographic surface and has a deeply oxidized zone of copper mineralization (drilled to in excess of 300m) resulting from surface waters moving to depth along prominent local shear zones. The underlying copper sulphide portion of the deposit is largely untested.
The project is located in southern Sonora within the Arizona-Sonora porphyry belt of Laramide aged copper systems which includes numerous operating and historic large scale copper mining operations.
Located approximately 50km west of Minera's existing Santana gold mine and Los Verdes copper project, the site has excellent road access, available grid power and proximity to existing Minera personnel and infrastructure.
The Suaqui Verde project has been the subject of numerous drill campaigns since the early 1990s, totalling approximately 100 drill holes. The focus of the historic exploration activities has primarily been the higher grade central core of the known copper oxide mineralized area (approximately 1km wide by 2-3km in length) and in the upper zones of oxide and transition mineralization.
A number of historical resource calculations exist for the Suaqui project, including internal review reports done in 2000 by two different companies that indicated copper oxide resources of approximately 50-60 Mt grading approximately 0.28-0.3% copper with a large halo of surrounding geological potential nearing 200 Mt at a slightly lower grade of approximately 0.25% (as described in Suaqui Project notes below). Minera intends to consolidate the historical exploration work into a new current Mineral Resource Statement.
Historical metallurgical work and engineering studies support the idea of developing Suaqui Verde as a traditional low capital intensity, open-pit/SX-EW (solvent extraction-electrowinning) copper project that would produce salable copper metal cathode at site.
The Company is not treating any historical estimates described in this release as current and the Company's QP has not completed sufficient work to classify these historical estimates as current mineral resources. None of the historic resources described in this release are NI43-101 compliant and should not be treated as such. While the Company is not treating these historical estimates as current resources, it does believe the reference work is reliable and the information may be of assistance to readers. The Company intends to commence work on a new resource estimate for the Suaqui Verde project including a data review to determine what is required to fully update the historical mineral resources to a current standard.
Photo 1 - View of mineralized alteration surrounding Suaqui Verde Project with dumps from old workings in foreground
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/206958_e377808c140d0851_002full.jpg
"Suaqui Verde has been on the Minera team's radar for many years and its acquisition adds significantly to the Company's copper assets in the area where we already operate. The area surrounding Los Verdes hosts numerous copper deposits. The combination of these assets into a single entity greatly expands the potential options for developing a regional copper "hub," the production from which can grow organically over time. The Company already has significant infrastructure and personnel active in the area through the development of our Santana gold project and these existing assets will greatly assist with the development of a new copper producer," stated Minera President Doug Ramshaw. "Following the recent conclusion of some proceedings confirming title to the Suaqui project concessions, we are extremely pleased to have been able to conclude this transaction. What is particularly gratifying on a personal level is Suaqui Verde was one of two assets that were part of a joint venture Company with Phelps Dodge in the 1990s that brought me to Canada in 1997. Suaqui Verde was the less advanced of the two projects; and we believe offers tremendous potential for our shareholders as a result of this past focus on the larger "sister" project, Piedras Verdes, that ultimately became a mine."
Suaqui Verde Copper Deposit
The geology of the Suaqui Verde copper deposit consists of a Cretaceous series of massive andesitic volcanics (Tarahmara formation) that were intruded by multiple granodioritic porphyry phases. Each phase may have an overlapping halo band/shell of copper mineralization. The later more felsic intrusive phases have high molybdenum contents and lower copper contents. At surface the known area of Suaqui Verde copper oxide mineralization has been traced over an area that extends to 2-3 km in length with widths of +1 km and is present in fractures, veinlets and in disseminated form.
The deposit is located in southern Sonora along the NW-SE trending porphyry copper belt which extends into Arizona, US. The project is approximately 120 km southeast of Hermosillo (paved highway access) and 50 km west of Minera's Santana gold mine and Los Verdes/Potreritos copper projects. The port of Guaymas is located 110km southwest of the project and is actively used for the shipment of copper concentrates and other industrial materials. Three phase electrical service is available and accessible approximately 5 km from the mine site. Paved highway provides access to the nearby town of Suaqui Grande, with approximately 1,000 residents, that has 3 phase electrical service. Thereafter, a number of unpaved roads provide access to the property 5-10km away.
One of the unique aspects of the Suaqui Verde deposit is that is has a deeply oxidized zone of copper mineralization interpreted to result from surface waters moving to depth along the broad northeast trending shear zones. The depth of the oxidation zone appears to extend beyond the limits of historic drill campaigns which were typically limited to depths of 300m or less. Historical metallurgical testwork on samples from the project confirmed the potential for processing this copper oxide mineralized material via heap leach and solvent extraction-electrowinning (SX-EW) technology to directly produce copper metal cathode (as opposed to copper mineral concentrates that require further processing).
The project has been the subject of numerous historical exploration as well as limited mining activities dating back to at least the 1940s and 19050s. A small area of mixed chalcocite/copper oxide material was mined in the 1950s via a shallow underground access and contained reported metal contents up to 14% copper. Companies involved in historical exploration at the project include ASARCO, Penoles, AZCO, Cambior, Phelps Dodge and Summo. In the 1970s, Cominco was involved in the area and completed exploration activities at Suaqui Verde as well as at Minera's Los Verdes project.
The focus of the majority of the historical exploration efforts on the property was the central core of higher-grade oxide/transition copper mineralization. During the more recent exploration and evaluation period for the project (beginning with AZCO in the 1990s), a number of resource estimates were completed. Available data from this period showed historical estimates for the upper oxide/transition open-pittable mineralization that were generally in the range of 50-60 Mt grading approximately 0.28-0.30% Cu. In addition, historic estimates of additional mineralized potential in the less drilled mineralized "halo" area surrounding the core area ranged up to 200 Mt at grades approaching 0.25% Cu.
Notes:
Grupo Mexico (internal report) reviewed the project in 2000 which resulted in a resource estimation using the Minesite program. They showed, with a 75m search radius at 0.2% cutoff, a resource of 59,35,248 tons with a grade of 0.28% copper, or with a 0.3% cutoff a resource of 15,624,375 tons of 0.4% copper. The same data with a 150m search radius and using a 0.2% cutoff indicated a resource of 172,532,256 tons 0f 0.26% copper. At a 0.3% cutoff and 150m search radius it showed 36,711,000 tons at 0.38% copper.
Summo (now Constellation Copper - internal report) also reviewed and made a resource calculation in 2000 with a pit plan cone at 0.2% cutoff that resulted in 52,489,210 tons of 0.292% copper having a further 10,032,320 tons of 0.152% copper for stockpile and 7,780,200 tons of waste.
The Company is not treating any historical estimates described in this release as current and the Company's QP has not completed sufficient work to classify these historical estimates as current mineral resources. While the Company is not treating these historical estimates as current resources, it does believe the reference work conducted by Grupo Mexico, Summo and others, is reliable and the information may be of assistance to readers. The Company intends to commence work on a new resource estimate for the Suaqui Verde project including a data review to determine what is required to fully update the historical mineral resources to a current standard.
Photo 2 - Access to some of the historic copper mining areas present within the Suaqui Verde Project area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/206958_e377808c140d0851_003full.jpg
Map 1 - Location of Suaqui Verde relative to Minera's Los Verdes and Santana projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/206958_e377808c140d0851_004full.jpg
Los Verdes
The Company's Los Verdes and Poteritos copper projects (past producers within close proximity of each other) located in Sonora are just northeast of the Santana gold mine.
Highlights for the projects are detailed below:
Los Verdes Measured+Indicated Resource Estimate of 8 million tonnes containing 0.67% Cu, 0.12% Mo, 4.7 g/t Auof (+1% CuEq).
Potreritos area which surrounds additional historical underground mine workings and presents similar exposed copper-molybdenum mineralization to that of Los Verdes. The area has been subjected to limited modern exploration relative to the larger Los Verdes deposit.
Extensive metallurgical testwork and basic engineering design completed for the construction of a two product (copper and molybdenum) central flotation facility to process material from the surrounding deposits.
Adjacent to a major state highway leading to mineral concentrate ocean port facilities at Guaymas, Sonora.
Minera is currently reviewing the designs contained withing the current PEA with a target of scaling down the initial capital requirements through implementation of commercial ore-sorting equipment that has demonstrated the potential for the project to reduce processing plant throughput requirements by increasing plant feed grades to the 2-3% CuEq range with high recoveries from crushed mine material.
Additional exploration targets have already been identified including a significant geophysical target from an induced polarization survey corresponding to a zone of intense pyritization and anomalous surface samples (copper/molybdenum) located between the two known copper deposits.
The PEA report for Los Verdes titled "Los Verdes Cu/Mo Project - Preliminary Economic Assessment was prepared by Golder Associates Ltd. for Virgin Metals Ltd" and dated May 2012, a copy of which is available under the Company's profile on SEDARplus (filed May 25, 2012). Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email: vvargas@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos Inc.
Minera Alamos is a gold production and development Company undergoing the operational startup of its first gold mine that produced its first gold in October 2021. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through its operational ramp up. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and has entered the permitting process. The La Fortuna open pit gold project in Durango (100%-owned) has a robust and positive preliminary economic assessment (PEA) completed and the main Federal permits in place. Minera Alamos is built around its successful operating team that together brought three mines into production in Mexico over the last 13 years.
The Company's strategy is to develop very low CAPEX assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos' future plans with respect to the projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos' forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations.
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: Minera Alamos Inc.
Ashley Provides Historical Drilling Summary of Sahara Utah Uranium-Vanadium Property
https://www.accesswire.com/856437/ashley-provides-historical-drilling-summary-of-sahara-utah-uranium-vanadium-property
Thursday, 25 April 2024 08:30 AM
CALGARY, AB / ACCESSWIRE / April 25, 2024 / Ashley Gold Corp. (CSE:ASHL)
Asia Broadband Tequila Mine Achieves $1.4 Million Dollar Record Quarterly Gold Production Revenue, As Flagship Ore Stockpile Processing Facility Plant Construction Progresses
https://ca.finance.yahoo.com/news/asia-broadband-tequila-mine-achieves-120000689.html
Asia Broadband Inc.
Thu, April 25, 2024 at 5:00 a.m. PDT·3 min read
AABB
+0.81%
OTCM
0.00%
LAS VEGAS, April 25, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that for the recent quarter ending March 31, gold production revenues reached a record $1.4 million dollars from the Company’s Tequila Gold Mine Project in the Tequila region of Mexico. The first quarter results will be published in the coming weeks reflecting a doubling of gold production from the levels recorded in the last quarter of 2023. The resulting increase in gross profit for the quarter was attributed to higher-grade recoveries, increased daily throughput levels and reduced production costs from economies of scale. Additionally, the initial weeks of production in April at the Tequila Mine are trending to achieve equivalent revenues for the second quarter.
The AABB mining team’s elevated operational strategies and efficiencies in Q1 have created the foundation for the high production levels to follow the completion of the Company’s processing plant. The new facility is under construction in Etzatlan, Mexico, and is currently receiving the remaining equipment components to allow for their integration and finishing in the build-out process. The majority of plant capacity will be dedicated to processing the estimated $1 billion dollar ore value of the Company’s exclusive rights surface stockpile. AABB expects to release a processing plant progress update in the coming weeks.
“With our current production coming exclusively from the Tequila Mine, we are thrilled with the ramped-up output facilitated by our mining operations team. The next steps in our ambitious expansion plans are to complete the new processing plant and begin much higher levels of production from our massive ore stockpile at Etzatlan,” expressed Chris Torres, the Company President and CEO.
AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.
Contact the Company at:
General Email:
ir@asiabroadbandinc.com
Token Support:
support@aabbgmine2token.com
Company Websites:
www.asiabroadbandinc.com
www.aabbgmine2token.com
www.goldenbaboons.com
Phone:
702-866-9054
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.
Artemis Gold Provides Q1 Update on Blackwater Mine Construction Progress
https://www.newswire.ca/news-releases/artemis-gold-provides-q1-update-on-blackwater-mine-construction-progress-875604176.html
Artemis Gold Inc. Apr 24, 2024, 17:00 ET
Project remains fully funded, on schedule, approximately 73% complete, within guidance for initial capital expenditure, and is advancing operational readiness
TSXV: ARTG
VANCOUVER, BC, April 24, 2024 /CNW/ - Artemis Gold Inc. (TSXV: ARTG) ("Artemis Gold" or the "Company") provides an update on Q1 construction progress at the Blackwater Mine in central British Columbia. The project remains fully funded, within the guidance for initial capital expenditure, and on schedule for first gold pour in H2 2024.
Project Plant Site – April 2024 (CNW Group/Artemis Gold Inc.)
CIL Tanks and Processing and Reagents Buildings Installation (CNW Group/Artemis Gold Inc.)
Ball Mill Shell and Heads (CNW Group/Artemis Gold Inc.)
Reclaim Tunnel (CNW Group/Artemis Gold Inc.)
Screening Station (CNW Group/Artemis Gold Inc.)
Conveyors (CNW Group/Artemis Gold Inc.)
Transmission Line Construction (CNW Group/Artemis Gold Inc.)
Medium-Voltage Transformer (CNW Group/Artemis Gold Inc.)
Earthworks at the Tailings Storage Facility (CNW Group/Artemis Gold Inc.)
400-tonne Hydraulic Backhoe Excavator (CNW Group/Artemis Gold Inc.)
Haul Truck Park Up Area (CNW Group/Artemis Gold Inc.)
At March 31, 2024 overall construction was approximately 73% complete, and approximately C$523 million of the guided initial capital expenditure of C$730 to C$750 million had been spent. By the end of Q1 2024, the Company had entered into contractual commitments for C$682 million (or 93% of the lower end of the guided initial capital expenditure). The majority of uncommitted expenditures relate to owners' cost and earthworks associated with mining pre-strip and construction of the tailings storage facility and other civil structures.
Steven Dean, Chairman and CEO of Artemis Gold, stated: "We have an exceptional team managing the development of the Blackwater Mine. Execution is critical in all projects, and managing the day-to-day challenges that arise in building a mine of this scale and complexity is key to being successful. We have an experienced group of people who are first class problem solvers, ensuring we advance toward operational readiness and remain on track for first gold pour in H2 2024.
"The remainder of 2024 will be transformational for Artemis Gold as we progress the Blackwater Mine, a tier one asset in a tier one jurisdiction, into production."
Construction Update
Mild weather conditions in Q1 2024 provided good, early access to infrastructure areas at the Blackwater Mine. Construction of major site water management facilities, including the water management pond, the central diversion system and the Davidson Creek diversion, have been completed. Work on the tailings storage facility dam is progressing well. Initial material placement has been successfully achieved, including tying into the surrounding topography, providing for optimal productivity moving into summer.
Total major works hours worked up to March 31, 2024 surpassed 1.7 million hours with a zero LTIFR1 and an AIFR2 of 87.68.
Process Plant
At the end of March 2024, the Sedgman EPC contract work on the processing plant was approximately 84% complete overall, with engineering, design and procurement essentially complete.
Process plant construction continues to progress well, particularly within steel erection and conveyor installation. Installation of mechanical equipment within the secondary and tertiary crushing circuits, as well as the screening station, was completed during the quarter. Notable achievements throughout the period included the installation of the ball mill, intensive leach reactor and the regeneration kiln, while installation of the gravity concentrator has commenced. All major tanks have been completed, including pre-leach, carbon-in-leach, and elution, and hydrotesting is underway.
Concrete work is nearing completion with most of the major pours now completed including the primary crusher run-of-mine slab, crusher vault and ore stockpile reclaim tunnel. Erection of the reagents and mill buildings are in progress with cladding works planned to commence in April.
Electrical and instrumentation activities are scaling up, with the installation of the main electrical room in the crushing circuit area now complete.
Transmission Line
During Q1 2024 the transmission line right-of-way clearing was completed. Construction contracts were awarded, and contractors mobilized to the region. Laydown areas and camp facilities have been established and civil foundation work and structure erection commenced. All electrical conductors have been delivered to site. Poles and hardware deliveries are in progress and sequenced to support the construction schedule.
The line is being built in two parts, north and south of the Nechako River. The length of the northern section is approximately 50km and the southern section approximately 80km.
Upgrades to the BC Hydro Glenannan substation are progressing to plan. Commissioning planning with BC Hydro is advancing as planned.
Work associated with Blackwater's 25kV power distribution network has progressed according to plan with engineering at an issued-for-construction (IFC) level, procurement complete, and most materials on site. Pole foundations are 65% completed and pole erection has commenced.
Heavy Equipment
Assembly and commissioning of the owner's mining fleet continues to advance. Two 400-tonne hydraulic backhoe excavators, six 240-tonne rigid frame haul trucks and two large mining front-end loaders are fully assembled. The remainder of the fleet to support initial operations is on site and nearing completion. Additional units will be added to the fleet as operations ramp up.
Personnel
The Company maintained its workforce of 320 employees in Q1 2024 and the ratios of the workforce have remained consistent, approximately:
20% of the team are women
30% identify as Indigenous
50% are from the local region, and;
80% are B.C. residents.
The total Blackwater Mine workforce, including staff and contractors, surpassed 600 at the end of March.
Operational Readiness
Recruitment for the Blackwater Mine operations team commenced this quarter with the first hires starting in early Q2 2024.
A laboratory contract has been signed and all mill reagents have been tendered, with plans to finalize the contracts in Q2 2024.
Procurement for commissioning, operations and critical spares was completed, and the operational readiness planning commenced during the quarter.
Funding
During Q1 2024, the Company completed an additional draw of $130 million under the project loan facility, bringing the total drawn to $280 million, along with approximately C$5 million in cumulative capitalized interest at March 31, 2024.
At March 31, 2024, Artemis Gold had estimated remaining Phase 1 capital expenditures of C$207 to C$227 million. At the same date, the committed sources of funding totalled C$295 million, comprising:
cash and cash equivalents of C$155 million;
remaining drawdowns from the project loan facility of C$100 million (including approximately C$20 million of capitalized interest remaining available), and
a cost overrun facility of C$40 million.
In addition, the Company had 23.2 million warrants outstanding which are exercisable at C$1.08 per warrant before August 27, 2024, for anticipated proceeds of C$25 million.
Artemis Gold President and COO Jeremy Langford commented: "Looking ahead to Q2 2024, we expect to complete the construction and commissioning of the initial phase of the mining fleet, advance the tailings storage facility main dam wall, and move to the completion of the construction activity in the processing facility. At the end of Q1 2024, we remain on track for first gold pour in H2 2024."
Video
Watch here for a Q1 project update video: https://youtu.be/JFwpIC9fFZo
Photos- April 2024
About Artemis Gold
Artemis Gold is a well-financed, growth-oriented gold development company with a strong financial capacity aimed at creating shareholder value through the identification, acquisition, and development of gold properties in mining-friendly jurisdictions. The Company's current focus is the construction of the Blackwater Mine in central British Columbia approximately 160km southwest of Prince George and 450km northeast of Vancouver. The project is one of the largest capital investments in central British Columbia in over a decade. The first pour of gold and silver at Blackwater is expected in H2 2024. Artemis Gold trades on the TSX-V under the symbol ARTG. For more information visit www.artemisgoldinc.com.
Qualified Person
Jeremy Langford, FAUSIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
On behalf of the Board of Directors
Steven Dean
Chairman and Chief Executive Officer
+1 604 558 1107
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-looking Information
This press release contains certain forward-looking statements and forward-looking information as defined under applicable Canadian and U.S. securities laws. Statements contained in this press release that are not historical facts are forward-looking statements that involve known and unknown risks and uncertainties. Any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. In certain cases, forward-looking statements and information can be identified using forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "potential" or similar terminology. Forward-looking statements and information are made as of the date of this press release, and include, but are not limited to, statements regarding the potential of the Blackwater mine project; the jobs to be created in connection with the project; the contribution of the project to the economy; opinions of the Province of British Columbia regarding the project and the region; agreements and relationships with Indigenous partners; the future of mining in British Columbia; the plans of the Company with respect to the project, including construction, site preparation, clearing, consultation with indigenous groups, and other plans and expectations of the Company with respect to the project.
These forward-looking statements represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance, which are based on information currently available to management, management's historical experience, perception of trends and current business conditions, expected future developments and other factors which management considers appropriate. Such forward-looking statements involve numerous risks and uncertainties, and actual results may vary. Important risks and other factors that may cause actual results to vary include, without limitation: risks related to the ability of the Company to accomplish its plans and objectives with respect to the development of the project within the expected timing or at all, the timing and receipt of certain required approvals, changes in commodity prices, changes in interest and currency exchange rates, risks inherent in exploration estimates and results, risks inherent in exploration and development activities, changes in development or mining plans due to changes in logistical, technical or other factors, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials, equipment or third party contractors, delays in the receipt of government approvals, industrial disturbances, job action, and unanticipated events related to heath, safety and environmental matters), changes in governmental regulation of mining operations, political risk, social unrest, changes in general economic conditions or conditions in the financial markets, and other risks related to the ability of the Company to proceed with its plans for the project and other risks set out in the Company's most recent MD&A, which is available on the Company's website at www.artemisgoldinc.com and on SEDAR+ at www.sedarplus.ca
In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, the assumptions that: (1) market fundamentals will result in sustained mineral demand and prices; (2) any necessary approvals and consents in connection with the development of the project will be obtained; (3) financing for the development, construction and continued operation of the project will continue to be available on terms suitable to the Company; (4) sustained commodity prices will continue to make the project economically viable; and (5) there will not be any unfavourable changes to the economic, political, permitting and legal climate in which the Company operates. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause the actual results or performance by the Company to differ materially from those expressed in or implied by any forward-looking statements. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or the financial condition of the Company. Investors should therefore not place undue reliance on forward-looking statements. The Company is under no obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future events or otherwise, except as may be required under applicable securities laws.
__________________________
1 LTIFR or Lost Time Injury Frequency Rate refers to the number of lost time injuries occurring per million man-hours worked, divided by total man-hours worked.
2 AIFR or All Injury Frequency Rate refers to the total number of recordable incidents occurring per million man-hours worked, divided by total man-hours worked.
SOURCE Artemis Gold Inc.
For further information: Investor Relations contact: Meg Brown, Vice President, Investor Relations, mbrown@artemisgoldinc.com, +1 778 899 0518; Media relations contact: media@artemisgoldinc.com
Snowline Gold Consolidates 100% of Its Einarson Project and Acquires Adjacent Gold Target With Historical Drill Result of 9.7 Grams per Tonne Gold Over 38.7 M
https://www.accesswire.com/856439/snowline-gold-consolidates-100-of-its-einarson-project-and-acquires-adjacent-gold-target-with-historical-drill-result-of-97-grams-per-tonne-gold-over-387-m
Thursday, 25 April 2024 06:00 AM
Snowline consolidates 100% ownership of its district-scale Einarson Project, including its drill discovery of an orogenic gold system at the Jupiter target.
Consolidation agreement also includes acquisition of adjacent, privately held gold target with historical drill results reported up to 9.67 g/t Au over 38.7 metres.
Recent staking bolsters Snowline's Yukon land position by 22,000 ha to >360,000 ha (>3,600 km2), with expansions to its Rogue and Einarson projects.
VANCOUVER, BC / ACCESSWIRE / April 25, 2024 / SNOWLINE GOLD CORP (TSXV:SGD) (OTCQB:SNWGF)
Core Assets Provides a Summary of the 2023 Exploration Program & Announces Issuance of Stock Options
https://www.accesswire.com/856360/core-assets-provides-a-summary-of-the-2023-exploration-program-announces-issuance-of-stock-options
Thursday, 25 April 2024 09:00 AM
VANCOUVER, BC / ACCESSWIRE / April 25, 2024 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(FSE:5RJ)(OTCQB:CCOOF)
ALX Resources Intersects Additional Uranium Mineralization at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/206777
April 25, 2024 7:30 AM EDT | Source: ALX Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF)
Kodiak Reports New Copper Porphyry Discovery at 1516 Zone and Final 2023 Drill Results
https://www.newsfilecorp.com/release/206707
April 25, 2024 6:00 AM EDT | Source: Kodiak Copper Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2024) - Kodiak Copper Corp. (TSXV: KDK) (OTCQB: KDKCF) (FSE: 5DD1)
Panther Minerals Significantly Expands Footprint of the Boulder Creek Uranium Property, Alaska
https://thenewswire.com/press-releases/1Be9Fap4G-panther-minerals-significantly-expands-footprint-of-the-boulder-creek-uranium-property-alaska.html
Vancouver, British Columbia - TheNewswire – April 25, 2024 - Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE:PURR) (OTC:GLIOF) is pleased to announce that it has significantly enlarged the footprint of the Boulder Creek uranium property (the “Property”), located in western Alaska and in respect of which it has an option (“Boulder Creek Option”) to acquire a 100% ownership interest, by staking 140 State of Alaska mining claims. Each claim is 160 acres in size, bringing the total footprint of the Property to 22,400 acres or 9,065 hectares (90.65 square kms). The Property now extends in a North Northwest – South Southeast for approximately 30 kms and varies in width from 3 to 7 kms. The recent staking campaign was designed to duplicate the area that was held, and the subject of exploration work by, Triex Mineral Corp. (“Triex”).
In July 2006, Triex flew a total of 1,155 line-km of airborne radiometric surveying over the area covered by the newly-staked claims using Triex’s in-house Exploranium GR460 spectrometer system that utilized two GPX-256 sodium iodide crystals mounted on a Hughes 500E helicopter (Internal Triex Company Report – Summary Report on the Boulder Creek Property 2006). The Company concluded, based on a review of the radiometric anomalies that were previously identified by Triex, the newly staked claims warranted additional exploration. The Company notes that a Qualified Person (within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) has not done sufficient work to verify the foregoing historical information. The Company is not treating such historical information as being reliable, and it should not be relied upon.
The Company is continuing to gather and assess the information from the field activities conducted by Triex between 2006 – 2008 in preparation for its planned summer 2024 exploration program.
About the Property
The Property is located on Alaska's Seward Peninsula in northwestern Alaska and hosts the Boulder Creek uranium deposit within tertiary-aged sandstones peripheral to a Late Cretaceous alkalic quartz monzonite intrusion.
The scientific and technical information in this news release has been reviewed and approved for disclosure by Mr. Lindsay Bottomer, P.Geo. Mr. Bottomer is a “Qualified Person” within the meaning of NI 43-101 and is a consultant to the Company.
The Company also announces that it has engaged Fairfax Partners Inc. (“Fairfax Partners”), for a nine-month term (“Term”), to provide marketing, communication and investor relations services for the Company (the “Fairfax Agreement”). The Company will pay a one-time startup fee of $50,000 to Fairfax Partners and $10,000 per month until the Term, or unless terminated or extended pursuant to the Fairfax Agreement. The Company will not issue any securities to Fairfax Partners in consideration for the services. Fairfax Partners does not have any prior relationship with the Company and the Company and Fairfax Partners deal at arm’s length. As of the date hereof, to the company's knowledge, Fairfax Partners (including its directors and officers) do not own any securities of the Company.
About Panther Minerals Inc.
Panther Minerals Inc. is a mineral exploration company actively involved in the exploration of its North American project portfolio. The acquisition of the Boulder Creek Option reflects the Company's ongoing intention of pursuing advanced, highly quality prospective uranium projects that can be readily worked and efficiently explored in a timely manner. For more information please visit: www.pantherminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Mr. Robert Birmingham: Chief Executive Officer
Head Office: 305-1770 Burrard St. Vancouver, British Columbia, V6J3G7
Telephone: +1 (604) 416 0569
Website: www.pantherminerals.ca
Email: info@pantherminerals.ca
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “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. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Property, the timing of exploration programs in the summer of 2024, whether the Company will exercise the Boulder Creek Option, expectations relating to the additional 140 State of Alaska mining claims and the expected benefits and opportunities that will arise with respect to the Property. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, but are not limited to: general economic conditions in Canada and globally; the inability of the Company to exercise the Boulder Creek Option; the possibility that a counterparty may breach a contractual arrangement; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the Company. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company 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 applicable law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedarplus.ca.
Torr Metals Confirms Kilometre-Scale Geophysical Anomalies Coincident with Untested Copper Porphyry Targets at Kolos
https://ca.finance.yahoo.com/news/torr-metals-confirms-kilometre-scale-120000471.html
TORR Metals, Inc.
Wed, April 24, 2024 at 5:00 a.m. PDT·5 min read
TMET.V
0.00%
Kolos Copper-Gold Project
Kolos Project area with highly anomalous 2023 soil samples and ZTEM resistivity inversion at 200m vertical depth. Note that gaps in the data were caused by powerline disruption and location of Highway 5.
ZTEM 3D Resistivity Inversion Model
ZTEM 3D Resistivity Inversion Model voxel slice through the Lodi and Kirby Zones, view looking east-northeast.
ZTEM 3D Resistivity Inversion Model
ZTEM 3D Resistivity Inversion Model voxel slice through the Lodi and Clapperton Zones, view looking northwest.
VANCOUVER, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) -- via IBN – Torr Metals Inc. (“Torr” or the "Company") (TSX-V: TMET.V) is very pleased to announce preliminary results that have identified near-surface high priority geophysical resistivity anomalies extending up to >1.5 kilometers (km) depth that are coincident with highly anomalous copper (Cu), gold (Au), and molybdenum (Mo) mineralization at-surface (Figure 1). These compelling exploration drill targets have been identified using a newly completed 3D resistivity inversion voxel model, derived from the ZTEM geophysical survey completed over the entirety of the 100% owned ~140 km2 Kolos Copper-Gold Project in late 2023 (Figure 1).
The geophysical survey data was analyzed in conjunction with recently published soil geochemistry, revealing a multi-centred cluster porphyry trend spanning 7 kilometers (km) (see March 25, 2024 news release). This trend encompasses 5 priority exploration targets for Cu-Au and Cu-Mo that delineate potential porphyry centres, all of which have never been drilled. Each target zone is defined by >200 parts per million (ppm) Cu in soil with concentrations reaching a peaks of 1175 ppm Cu and 725 ppb Au (Figure 1). All of the priority exploration targets are road-accessible from Highway 5, approximately 23 km north-northeast of the city of Merritt, British Columbia.
Highlights:
Kilometre-scale Surface Exploration Targets Now Extended to Depth: The results of the 3D resistivity inversions have confirmed multiple untested sub-surface drilling opportunities with 3 major potential porphyry centres within the Lodi, Kirby, and Clapperton Zones together with 2 additional satellite Cu-Au porphyry epithermal targets within the Ace and Rea Zones.
Multiple Broad Resistivity Anomalies Indicate Impressive Scale: Across the Lodi, Kirby, and Clapperton Zones, extensive low to moderate and high resistivity anomalies span multiple kilometers in the sub-surface, aligning with concentrated higher-grade Cu ± Au ± Mo mineralization at the surface (Figure 1).
Multiple Large-Scale Geophysical Anomalies Coincident with Surface Mineralization:
Analysis has confirmed an extensive anomalous resistivity signature, stretching over 4.8 km in strike-length, connecting the Cu-Au Lodi and Kirby Zones at depth (Figure 2). Copper-gold mineralization in both zones has a strong correlation to anomalous low to moderate resistivity, with anomalous signatures extending up to 1000 meters (m) in depth while measuring ~1850 m and ~2500 m in strike-length within the Lodi and Kirby Zones respectively (Figure 2, Figure 3).
Anomalous copper-molybdenum in soil coincides with an at-surface high resistivity anomaly at the Clapperton Zone, attributed to an exposed quartz-rich domain, typical of the upper levels of a porphyry system, within a multi-phase diorite intrusive host; resulting in an anomalous geophysical signature measuring ~1400 m in width and >1500 m in depth (Figure 3).
Kirby Zone Expansion Potential: The anomalous geophysical signature at the Kirby Zone extends >1900 m south of the 2023 soil grid, suggesting significant expansion potential with further soil sampling.
"The strong correlation between highly anomalous resistivity areas and known surface copper-gold and copper-molybdenum mineralization is incredibly promising," said Malcolm Dorsey, President and CEO. "We are now identifying the robust plumbing behind these prolific mineralizing systems, indicating an immense scale of underlying potential. Torr is now equipped with the precise knowledge on where and how to best target these anomalies in the sub-surface and with multiple untested zones delineated across a 7 km cluster porphyry trend this is a significant opportunity for a potentially major new copper discovery located only 30 km from Canada’s largest open pit copper mine at Highland Valley.”
ZTEM Geophysical Survey
ZTEM geophysics is a sophisticated technique for delineating expansive hydrothermal mineralization and alteration systems typically associated with porphyry deposits, often spanning kilometer-scale dimensions both horizontally and vertically. Moreover, its precision in defining intricate geological structures proves invaluable, aiding in the identification and localization of mineralization; thereby enhancing exploration efficiency and success.
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. At ALS the “B” horizon soil samples underwent screening to 180 microns under the ALS code PREP-41. The samples were digested using Aqua Regia and analyzed via ICP-MS and ICP-AES using a 25g sample aliquot under the ALS code AuME-TL43. The Company follows industry standard procedures for the work carried out on the Kolos Project. Due to the reconnaissance nature of the soil sampling the Company relied on the internal quality assurance quality control (“QA/QC”) measures of ALS. Torr Metals detected no significant QA/QC issues during review of the data.
Qualified Person
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., a consultant to the Company who is a qualified person defined under National Instrument 43-101.
About Torr Metals
Torr Metals is a Vancouver based mineral exploration company focused on defining and developing the substantial exploration potential of the ~140 km2 Kolos Copper-Gold Project, located within the prolific Quesnel Terrane in Central British Columbia. Year-round access is provided by Highway 5, with the project being favourably located 23 km north of the city of Merritt and 286 km by highway from Vancouver, British Columbia. For further details about the Latham Copper-Gold Project, please refer to the Company's website or current geological Technical Report (August 24, 2021) filed on November 25, 2021 under the Company's profile on SEDAR at www.sedar.com.
On behalf of the Board of Directors
Torr Metals Inc.
"Malcolm Dorsey"
Malcolm Dorsey
President, CEO and Director
For further information:
Malcolm Dorsey
Telephone: 236-982-4300
Email: malcolmd@torrmetals.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 press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. 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". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, 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. Although the Company has 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. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Corporate Communications:
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
Attachments
Kolos Copper-Gold Project
ZTEM 3D Resistivity Inversion Model
ZTEM 3D Resistivity Inversion Model
Cosa Resources Announces Completion of Inaugural Diamond Drilling Program at the 100% Owned Ursa Uranium Project in the Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/206631
April 24, 2024 7:43 AM EDT | Source: Cosa Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU)
Atomic Minerals Plans Exploration with New Initiatives in Northern Saskatchewan's Uranium Epicenter
https://www.newsfilecorp.com/release/206492
April 23, 2024 8:00 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to announce that in anticipation of the upcoming exploration season the Company has engaged Grander Exploration Ltd. ("Grander") to drive preliminary exploration programs and provide recommendations and budgets for the lead projects in its newly acquired Northern Saskatchewan property portfolio (the "Property"). (see February 5, 2024, March 6, 2024, and April 16, 2024 news releases).
Initially the focus will be on the projects within the Athabasca Basin: Parks Lake and Pistol Lake, one project to the south, Archie Lake and one project to the southeast, Bleasdell Lake.
"Atomic Minerals is thrilled to announce the engagement of Grander Exploration to spearhead the planning and future execution of exploration programs, it's an exciting time for Atomic Minerals with these new prospects in Northern Saskatchewan's Athabasca Basin," said Clive Massey, President, and CEO of Atomic Minerals. "Grander's innovative geological tools, including IP, magnetometer, and radiometric surveys, will expand the capabilities of our geological team, enabling a thorough investigation of these prolific uranium properties and building on the region's rich uranium mining heritage to optimally position our projects for success," he continued.
The Property portfolio in Northern Saskatchewan is comprised of nine individual properties spanning nearly 6,500 hectares. This strategically located portfolio lies within and adjacent to the prolific Athabasca Basin, a crucial area for uranium exploration.
Atomic Minerals is committed to responsibly advancing these projects with a focused exploration strategy targeting the full exploration potential of these assets. The Company's dedication to sustainable practices, community engagement, and ethical exploration will drive the development of these projects, reinforcing Atomic Minerals' position as a leader in the uranium exploration sector.
Parks Lake
Parks Lake lies in a highly prospective area on the eastern side of the Athabasca Basin, 3 km to SE of historic Rabbit Lake Mine and 2 km to 4km E to NE of Uranium Energy Corp.'s Horseshoe and Raven deposits. Majors completely surround Parks Lake, with Uranium Energy bordering the west and south and Cameco bordering the east and north. Conductors appear to trend from Uranium Energy's land onto the Parks Lake property, suggesting a high priority target.
With good road access, Grander Exploration proposes a 6-line km combined induced polarization ("IP") and magnetometer program along with 12-line km of radiometry. The focus of this program is confirming conductors continue onto the Parks Lake property and delineate them for subsequent drilling.
Pistol Lake
Pistol Lake lies 600 metres north of Cameco's 5,000,000 LBS Sand Lake Uranium Deposits, completely surrounded by Cameco. Recent drilling has been undertaken on most of the nearby claims according to the property vendor, suggesting conductors that appear to trend onto the Pistol Lake property are high priority targets.
Grander Exploration proposes a helicopter supported program consisting of 20-line km of IP-magnetometer-radiometry surveying focused on the suspected strike extensions of conductors on the Cameco ground in advance of diamond drilling.
Bleasdell Lake
Bleasdell Lake, lying to the southeast of the Athabasca Basin, 95 kilometres southwest of Lynn Lake, Manitoba, is one of the key properties in the package. 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.
Grander Exploration proposes a helicopter supported program consisting of 18-line km of IP surveying and 50-line km of magnetometer surveying focused on the strike extensions of the Horn and Jackpine zones in advance of diamond drilling.
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 considerable 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 Minerals is not treating the historical estimate as a current mineral resource.
Archie Lake
Archie Lake lies contiguous to the north, east and west to NexGen Energy, on the southwest edge of the Athabasca Basin. NexGen holds a significant land package across three large blocks in this area, focused on repeats of its Arrow high-grade basement hosted uranium deposit. Grander Exploration proposes a helicopter supported program consisting of 6-line km of IP and magnetometer and 12-line km of radiometry surveying as a first pass program to identify prospective geology and conductors for follow up exploration in advance of diamond drilling.
About Grander Exploration Ltd.
Grander Exploration Ltd. is a specialized company based in Vancouver, British Columbia, that provides comprehensive ground exploration services across Canada. Their services are tailored to both large and small projects, ensuring that every undertaking is managed with the highest level of expertise by qualified personnel, including Professional Geologists if required. The company is particularly adept in uranium exploration, utilizing advanced technologies such as gamma radiation detection with Radiation Solutions RS-125 spectrometers and RS-120 scintillometers, alongside radon gas collection methods. These techniques enable Grander Exploration to identify and map uranium deposits effectively. They also offer a range of other services, including diamond drilling, geophysical surveys like IP and VLF EM to locate subsurface features, and detailed program planning and administration for exploration projects?. For more detailed information about their services and capabilities, you can visit their official website: Grander Exploration.
The data disclosed in this news release are related to historical exploration and drilling results. Atomic Minerals 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. The Company 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 in 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:
(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.
CanAlaska Uranium/ Nexus Uranium Provide Update on Cree East Project Permitting
https://www.newsfilecorp.com/release/206483
April 23, 2024 6:00 AM EDT | Source: Nexus Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus Uranium") is pleased to provide an update on permitting for the Cree East uranium project in the Athabasca Basin of Saskatchewan, Canada (the "Cree East" or the "Project"). Nexus Uranium has the right to earn up to a 75% interest in the Project from CanAlaska Uranium Ltd. (TSXV: CVV). A three-year exploration permit application for the Project was submitted on March 19, 2024 and, if granted will allow for year-round exploration of up to 40,000 metres of drilling plus 300 line-kilometres of geophysics and other exploration programs. In addition, Condor Consulting, Inc. has been engaged to provide a comprehensive review and reinterpretation of all previous geophysical studies. This review will aid the Company in both designing a follow-up ground exploration and drill program to test the four defined priority target areas, as well as potentially identifying new targets due to the advancements of modern geophysical techniques compared to the historical studies (due to the deepening of the unconformity basement contact in deeper portions of the Athabasca Basin within the Project).
"Having now submitted for exploration permits for a multi-year program, we anticipate having all the necessary approvals in place for a summer exploration program," commented Jeremy Poirer, CEO of Nexus Uranium. "Given the extensive amount of high-quality historical exploration, in conjunction with a thorough review of prior geophysical and geological models, we anticipate finalizing a number of high-priority targets for drilling in the upcoming exploration program."
About Nexus Uranium Corp.
Nexus Uranium is a multi-commodity development company focused on advancing the Cree East uranium project in the Athabasca Basin and the Wray Mesa uranium-vanadium project in Utah in addition to its precious metals portfolio that includes the development-stage Independence mine located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in Nevada, the Napoleon gold project in British Columbia, and a package of gold claims in the Yukon. The Cree East project is one of the largest projects within the Athabasca Basin of Saskatchewan spanning 57,752 hectares (142,708 acres) and has seen over $20 million in exploration to date. The Wray Mesa project covers 6,282 acres within the heart of the prolific Uruvan mining district in Utah and has extensive historical drilling of over 500 holes defining multiple mineralized zones. The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28M tonnes at 0.41 g/t gold) and an inferred resource of 847,000 ounces (9M tonnes at 3.22 g/t gold) of gold with a substantial silver credit. A 2022 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 (U.S.) per ounce of gold. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.
Nexus Uranium cautions investors the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. The Company further cautions investors Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability and further cautions investors the quantity and grade of the reported inferred Mineral Resources are uncertain in nature ?and there has been insufficient exploration to define these inferred Mineral Resources as ?indicated Mineral Resources.
The Company cautions investors it has yet to verify the historical data and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.
The technical content of this news release has been reviewed and approved by Warren D. Robb, P.Geo. (BC), a Director and VP Exploration of Nexus Uranium Corp. and a Qualified Person under National Instrument 43-101.
--
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
info@nexusuranium.com
This news release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to, planned permitting and exploration at the Cree East Project.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that the Company will be successful in obtaining all necessary permits to complete exploration and the assumption that such exploration will be able to commence this summer.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Nexus Uranium Corp.
Myriad Announces Acquisition of Historic Bonanza and Kermac/Day Uranium Mines at Copper Mountain
https://www.newsfilecorp.com/release/206089
April 19, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 19, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that its earn-in partner Rush Rare Metals Corp. ("Rush"), again guided by proprietary data, has acquired the historic Bonanza and Kermac/Day uranium mines at Copper Mountain (See Figure 1 below). Various proprietary documents in Myriad's possession indicate that the Bonanza Mine produced around 780,000 lbs from 30,000 tons of ore at a grade of 1.3% eU3O8, while at the Day Mine, 1,152 tons of ore were mined at grades of between 0.12% and 0.56% eU3O8 in the early 1960's (see Figure 2 below).
"Bonanza-Kermac" aggregates 280 acres, and its acquisition increases the area subject to Myriad's 75% earnable interest under the property option agreement between Myriad and Rush from 3,605 acres to 3,886 acres.
Figure 1: Current Copper Mountain Project Area including Bonanza-Kermac
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206089_47decf06b46b3b87_002full.jpg
Myriad's CEO Thomas Lamb commented, "We continue to add highly prospective acreage at Copper Mountain."
Production during the late 1950's and 1960's from the Bonanza Mine Area came from siltstones of the Wind River Formation overlying the pre-Cambrian basement granitic rocks. Mineralization in these areas formed by basinward migration of uranium in channel sediments with precipitation occurring at roll-front boundaries or fault/hydrocarbon redox areas. The deposit lies downstream of the old Little Mo (Arrowhead) Mine which was the first area of production (around 500,000 lbs U3O8) before final shutdown in 1971 (Figure 2).
Figure 2: Extracts from 1975 and 1968 charts of Copper Mountain
indicating the Bonanza Mine's estimated uranium endowment and grade.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206089_47decf06b46b3b87_003full.jpg
Mineralization in the Kermac/Day Mine Area follows a similar configuration and was investigated by RME as a site for potential shallow uranium mineralization in the late 1970's. Previous production was from Tertiary bentonitic clay sediments overlying the basement granite.
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical target estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical target estimates as current mineral resources or mineral reserves. In particular, the Company considers that insufficient work has been done to estimate a resource at the Bonanza-Kermac property and the potential cannot be relied upon until further work is done.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company'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: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company 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 applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
MAG Announces First Quarter 2024 Production From Juanicipio
https://ca.finance.yahoo.com/news/mag-announces-first-quarter-2024-105000607.html
MAG Silver Corp.
Wed, April 24, 2024 at 3:50 a.m. PDT
MAG
-0.82%
FRES.L
+0.35%
VANCOUVER, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG
Silver X Delivers Solid Production Growth During the First Quarter of 2024
https://www.accesswire.com/855868/silver-x-delivers-solid-production-growth-during-the-first-quarter-of-2024
Wednesday, 24 April 2024 07:30 AM
VANCOUVER, BC / ACCESSWIRE / April 24, 2024 / SILVER X MINING CORP. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX)
Inspiration Energy Options Two Uranium Projects in the Athabasca Basin, Saskatchewan, from Atha Energy .
https://thenewswire.com/press-releases/1Bb4FYVd4-inspiration-energy-options-two-uranium-projects-in-the-athabasca-basin-saskatchewan-from-atha-energy-corp.html
Vancouver, British Columbia, April 23,2024: Inspiration Energy Corp. (the "Company" or "Inspiration") (CSE: ISP) is pleased to announce that it has further expanded its presence in the Athabasca Basin by entering into Option Agreements to acquire a 70% undivided interest in two Uranium properties (the “Plateau Property” and “Ledge Property”) from Atha Energy Corp. (“Atha”). See Figure 1. for a map of Inspiration’s current land holdings in the Athabasca Basin.
Click Image To View Full Size
Figure 1. Map of Inspiration Energy Corp.'s current land holdings in the Athabasca Basin.
The Plateau Property, located in the southeast Athabasca Basin, consists of 9 mineral dispositions totalling 27,252ha (27km2). The Athabasca Basin unconformity-contact crosscuts the southern mineral dispositions of the property, and the sandstone extends northwards to a maximum thickness of 800 metres. The basement rock underlying the Plateau Property consists of mainly Archean felsic gneisses with lesser Archean and Paleoproterozoic supracrustal rocks. See Figure 2. for Plateau Property location map.
Figure 2. Plateau Property location map.
Highlights:
Targeting basement-hosted and unconformity-associated Uranium mineralization.
Property Structural Fabric: Curvilinear NE-trending belt dominated by dome-and-basin-style interference-folding of the Mudjatik Domain overprinted by NE-linear Cable Bay Shear Zone.
Major Structures include Cable Bay Shear Zone, Tabbernor faults, and Mackenzie diabase dykes.
Proximity to Known Mineralization: 1 km from Fleming Island Occurrence (3% U outcrop samples). There are multiple Saskatchewan Mineral Deposit Index showings proximal to the property that include Co, Cu, Zn, and Ni.
Recent Work: XciteTM helicopter-borne time-domain electromagnetic (HTDEM) system flown over entire property in 2023, which defined 73 linear-kilometres of conductors on the property.
XciteTM survey has highlighted coincident magnetic and electromagnetic anomalies within the northwest quadrant of the property that may host northeast trending splay faults of the Cable Bay Shear Zone.
About the Plateau Property:
The Plateau Property is comprised of 9 mineral dispositions encompassing a total land area of 27,252ha (27km2) and is located along the southeast margin of the Athabasca Basin. The property sits adjacent to, and potentially overlies, portions of the conductive Cable Bay Shear Zone that hosts multiple Saskatchewan Mineral Deposit Index (SMDI) occurrences relating to unconformity-associated Uranium mineralization and Mafic-Ultramafic Intrusion-hosted Ni-Cu-(Co-PGE) mineralization. The 4 southernmost mineral dispositions lay partially outside the extent of the Athabasca Basin unconformity contact. The sandstone overlying the remaining mineral dispositions dips downward to the north; the northernmost disposition contains sandstone up to 800m thick.
Future Work Recommendation for the remainder of 2024 through to the end of 2026:
I. Complete drillhole and surficial geochemistry compilation work initiated by Atha.
II. Property-wide airborne gravity survey.
III. Property-wide ground geochemistry/boulder sampling survey.
IV. Ground time-domain electromagnetic (TDEM) and ground DC-IP resistivity surveying over the northern dispositions.
V. Geologic mapping & prospecting over the southern dispositions.
The Ledge Property, located in the northeast Athabasca Basin, consists of 7 mineral dispositions totalling 38,784ha (38km2). The Athabasca Basin unconformity-contact crosscuts the northern mineral dispositions of the property, and the sandstone extends southwards to a maximum thickness of 200 metres. The basement rocks underlying the Ledge Property consist of mainly Archean felsic gneisses with lesser Archean and Paleoproterozoic supracrustal rocks. See Figure 3. For Ledge Property location map.
Click Image To View Full Size
Figure 3. Ledge Property location map.
Highlights:
Targeting basement-hosted and unconformity-associated Uranium mineralization.
Property Structural Fabric: Curvilinear NE-trending belt dominated by dome-and-basin-style interference-folding typical of the Mudjatik Domain.
Major Structures include Tabbernor faults, Mackenzie diabase dykes, and potential extension of the Cable Bay Shear Zone.
Numerous drill holes and boulder sampling has been completed on the property with anomalous Uranium and scintillometer values which have been linked to the granitoids.
Proximity to Known Mineralization: Moosonees Lake Bedrock Uranium Showing on Property ( Surficial Boulder Sample at 0.19% U3O8).
Recent Work: XciteTM helicopter-borne time-domain electromagnetic (HTDEM) system flown over entire property in 2023, which defined 50 linear-kilometres of conductive lineaments.
About the Ledge Property:
The Ledge Property is comprised of 7 mineral licences encompassing a total land area of 38,784ha (38km2) and is located along the northeast margin of the Athabasca Basin. The property potentially overlies portions of the conductive Cable Bay Shear Zone that hosts Saskatchewan Mineral Deposit Index (SMDI) occurrence #1617 relating to Felsic Intrusion-hosted Uranium mineralization with associated Fe, Mo, and Th. The 3 northernmost mineral dispositions of the property lay partially outside the extent of the Athabasca Basin unconformity contact. The sandstone overlying the remaining mineral dispositions dips downward to the south; the southernmost disposition contains sandstone up to 200m thick.
Future Work Recommendation for the remainder of 2024 through to the end of 2026:
I. Complete drillhole and surficial geochemistry compilation work initiated by ATHA Energy Corp.
II. Property-wide airborne gravity survey.
III. Property-wide geologic mapping, prospecting.
IV. Property-wide ground geochemistry/boulder survey.
Charles Desjardins. President and CEO of Inspiration states that “These 2 new, exciting projects we are joint venturing with Atha Energy Corp. dovetail extremely well with our existing portfolio of uranium projects. This new relationship with Atha brings Atha’s foothold and experience in both the Athabasca and Thelon Basins to the table and will provide many exploration synergies for shareholders of Inspiration.”
Terms of the Option Agreements:
In accordance with the terms of the Option Agreements, the Company can earn a 70% undivided interest (subject to underlying 2.0% NSR royalties on each property agreed to by the parties) in the Plateau Property and Ledge Property through the issuance of 4,330,228 common shares of the Company (the “Consideration Shares”) to Atha and incurring a total of $8,000,000 on exploration expenditures broken down as described below. Additionally, Atha is entitled to anti-dilution projection during the option period, such that the number of common shares issuable will be adjusted upwards to maintain a 9.0% shareholder interest upon any issuance of new common shares by the Company out of treasury. The anti-dilution feature will not be triggered by any shares issued upon exercise of outstanding stock options, warrants or other convertible securities.
Plateau Property
Inspiration may exercise the option on the Plateau Property by satisfying all of the following conditions:
Issuing an aggregate of 2,165,114 Consideration Shares to Atha within two (2) business days following regulatory approval at the market price of the common shares of the Company; and
Incurring exploration expenditures on the Plateau Property in the following amounts:
(i) $400,000 by September 1, 2024;
(ii) an additional $400,000 by September 1, 2025;
(iii) an additional $3,000,000 by September 1, 2028; and
This Option Agreement will terminate at Atha’s discretion if Inspiration fails to incur exploration expenditures and issue the Consideration Shares to Atha as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Option Agreement.
Ledger Property
Inspiration may exercise the option on the Ledge Property by satisfying all of the following conditions:
Issuing an aggregate of 2,165,114 Consideration Shares to Atha within two (2) business days following regulatory approval at the market price of the common shares of the Company; and
Incurring Exploration Expenditures on the Ledge Property in the following amounts:
(i) $600,000 by September 1, 2024;
(ii) an additional $600,000 by September 1, 2025;
(iii) an additional $3,000,000 by September 1, 2028; and
This Option Agreement will terminate at Atha’s discretion if Inspiration fails to incur exploration expenditures and issue the Consideration Shares to Atha as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Option Agreement.
NI 43-101 Disclosure
Paul Burry, P.Geo., (APEGS Licence #15000) is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Burry has reviewed and approved the technical content in this release.
About Inspiration Energy Corp.
Inspiration Energy Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the Company’s properties.
For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).
On Behalf of the Board of Directors
Charles Desjardins
Chief Executive Officer, President, and Director
Phone: 604-808-3156
Email: info@inspiration.energy
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions, including with respect to the Company’s ability or intention to complete the Options Agreements, as described above. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at WWW.SEDARPLUS.CA).
Golden Cariboo to Utilize Historic Data to Create 3D Model
https://thenewswire.com/press-releases/1A0vF6R52-golden-cariboo-to-utilize-historic-data-to-create-3d-model.html
April 24, 2024 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (“GCC or the Company”) (CSE-GCC, OTC-GCCFF, WKN-A0RLEP) announced today that it has acquired Micromine 3D geological modelling software to support exploration activities at its Quesnelle Gold Quartz Mine project (“QGQ” project) near Hixon, BC.
The Company will utilize the Micromine 3D geological modelling software to model the property’s historic drillhole database, which dates back to the 1970s and totals over four kilometers of drilling, the majority of which being in the vicinity of the historic Quesnelle Quartz Mine. The modelling of the drillhole database will enhance the company’s geological understanding of the property, providing new insights into styles of mineralization and their geologic controls. It is expected to unlock further targets to test in the Company’s active drill program.
Company President and CEO, Mr. J. Frank Callaghan commented “Creating a geological model is an important step in defining the prospects of the QGQ project. Incorporating historic data will allow the Company to design an efficient drill program, the objective being to provide a maiden mineral resource on our past producing gold mining property.
Mr. Callaghan commented further, stating "We acquired the QGQ project because of its past production, the presence of a greenstone contact, and its potential to host similar mineralization found at the nearby Bonanza Ledge Mine, which our team initially discovered, developed and put into production at Osisko Development’s Cariboo Gold Project. After Golden Cariboo’s team commenced production at the Bonanza Ledge Mine and further developed the Cariboo Gold Project, it was ultimately acquired by Osisko Royalties for $330 million, and now owned and operated by Osisko Development. We see a similar chance to replicate our success at the QGQ project and firmly believe in the principle that you make a mine, you don’t find one."
Further to Company news released on April 9, 2024, announcing the engagement of marketing service providers, terms of the agreements are as follows:
Global One Media, Suite 1500, 1155 Metcalfe Street, Montreal, QC H3B 2V6
(514) 695-0351, bastien@globalonemedia.com
Cost of services is CDN$5000 per month for a 12-month term, with an option to cancel after 6 months
start date of April 09, 2024
GoldInvest Consulting GmbH, Rothenbaumchaussee 185, 20149 Hamburg, Germany
+49 40 44 195 195, Redaktion@goldinvest.de
Cost of services is CDN $3000 per month payable in quarterly instalments in advance for a 12-month term
start date of April 09, 2024
Arne Lutsch, Rütliweg 2, 8849 Alpthal, Switzerland
+41 44 832 6150, info@arne-lutsch.com
Cost of services is CDN $3000 per month payable in quarterly instalments in advance for a 12-month term
start date of April 09, 2024
About Golden Cariboo Resources Ltd.
Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with high-grade targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine Project which is almost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the 90 km trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz mine have recorded production and successful placer mining continues to this day.
Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 km northeast of, and road accessible from, Hixon in central British Columbia. The property includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the Quesnelle Gold Quartz Mine property, is a placer creek which has seen small-scale placer production since the mid 1860’s.
For further information please contact:
GOLDEN CARIBOO RESOURCES LTD
“J. Frank Callaghan”
J. Frank Callaghan, President & CEO
Tel: 604-682-2928
Neither the “CSE” Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements:
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not have the resources required to pursue its exploration plans; that the Company’s operations could be adversely affected by possible future government legislation policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis currently expected. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Ashley Gold Closes Option Agreement on the Sahara Uranium-Vanadium Property
https://thenewswire.com/press-releases/1k49Fgjpy-ashley-gold-closes-option-agreement-on-the-sahara-uranium-vanadium-property.html
CALGARY, ALBERTA – TheNewswire - April 23, 2024 - Ashley Gold Corp. (CSE:ASHL) (“Ashley” or the “Company”) is pleased to announce that, further to the news release dated March 4, 2024, it has executed a property option agreement dated April 22, 2024 (the “Agreement”) with San Rafael Resources LLC (“San Rafael”) to acquire a 100%-interest in the Sahara uranium-vanadium property, located in Emery County, Utah. (the “Property”).
Darcy Christian, CEO of Ashley comments “This is a defining moment for the Company as Ashley now has line of sight for production cash-flow to continue to develop its existing assets and provide capital for new opportunities. In addition, we have solidified a relationship with San Rafael and Greg Kofford, the Optionor, bringing his capital experience and knowledge to the table. Mr. Kofford is going to be aligned with the shareholders for the long-haul, participating in financings alongside new and existing shareholders, with the intent to grow Ashley into one of the largest public multi-district producers in North America.”
Option Agreement Terms
Under the terms of the Agreement, Ashley has the right to acquire a 100% undivided interest in the Property through staged cash and share payments, plus minimum work expenditures totaling USD $10 million over a three-year period, as summarized below:
4,500,000 Ashley common shares within 30 days of Ashley completing a private placement financing for first stage earn-in. Terms and conditions of the private placement will be disclosed in a future press release when finalized. Ashley previously issued 500,000 common shares to San Rafael as a deposit upon execution of the letter of intent.
1,000m drill program and completion of National Instrument 43-101 Report on the Property within 30 days of the first anniversary
To earn an initial 30% interest to the Property:
issue 18,500,000 common shares; and
pay USD $100,000 cash to San Rafael.
To earn a 50% interest to the Property:
issue 20,000,000 common shares; and
complete expenditures of USD $3,000,000 on the Property.
To earn 100% of the Property:
issue to San Rafael, the greater of 36,500,000 common shares and the number of Ashley common shares that would result in the aggregate number of common shares issued to San Rafael pursuant to the Agreement representing 40% of the issued and outstanding common shares;
pay USD $1,000,000 cash; and
USD $7,000,000 of expenditures on the Property.
In addition to the 100% earn-in, Ashley has agreed to issue additional common shares to San Rafael based on certain economic Uranium Resource identified in a Preliminary Economic Assessment, as follows:
10 million pounds of uranium in Preliminary Economic Assessment – 15,000,000 common shares and USD $500,000; and
30 million pounds of uranium in Preliminary Economic Assessment – 35,000,000 common shares and USD $2,500,000.
Upon completion of the acquisition of a 100% interest in the Property, Ashley will grant a 2% Net Smelter Return Royalty (the “NSR”) to San Rafael. Ashley will have the option to buy back 50% of the NSR for USD $2,000,000 prior to the commencement of commercial production.
As a prerequisite to executing the Agreement, Ashley has entered in to an investor rights agreement with San Rafael which gives San Rafael the right to participate in future financings on equal terms as well as the right to top up their equity position in any dilutive issuance (i.e., convertible securities) at the average 20-day Volume Weighted Average Price to maintain minimum ownership percentage. San Rafael shall also have the right to nominate a director to join the Board of Directors as Chairman upon initial earn-in, subject to regulatory approval.
About the Sahara Property
The Property represents 402 Federal claims and 3 State Claims locate in Emery County Utah. The Property is located 12 miles southwest of Green River, Utah and consists of over 10,000 acres. The region has produced 4,000,000 lbs of Uranium and 5,000,000 lbs of Vanadium with some historical production occuring on the Property until 1980. The Property is located one mile off of the I-70 and is accessed by all weather gravel roads. Water wells are located on the property and power is located less than a mile away to the northeast. In addition, a nearby telecommunicaions tower and fibre optics at the property provide internet and phone access.
The Property has over 900 historical drill holes over the Sahara, Jessies Twist and Acheson discoveries. Mineralization occurs in the Salt Wash Member of the Morrison Formation within fluvial sandstones. Additional targets have been identified with surficial gamma-ray spectrometry readings across the property. In additon, bulk tonnage targets have been identified for drilling as well as the hydrodynamic conditions for roll-front bluesky potential.
Click Image To View Full Size
Figure 1 - Ariel image of the Sahara Uranium-Vanadium Property with respect to Green River, Utah
ABOUT ASHLEY GOLD CORP.
Ashley Gold Corp. is focused on creating substantive, long-term value for its shareholders through the discovery and development of world class gold deposits. Ashley has acquired, 100% of the Tabor Lake Lease subject to a 1.5% royalty, 100% of the Santa Maria Project subject to a 1.75% royalty, 100% interest in the Howie Lake Project subject to a 0.5% royalty, 100% interest in the Alto-Gardnar Project subject to a 0.5% royalty, 100% interest in the Burnthut Property subject to a 1.5% NSR, and an option to earn 100% of the Sakoose claims subject to a 1.5% NSR. In addition, Ashley has entered into a Option to earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.
Ashley Gold Corp. is an early-stage natural resource company engaged primarily in the acquisition, exploration, and if warranted, development of mineral projects. The Corporation’s objective is to conduct efficient and economical exploration on its growing portfolio of high-quality gold projects, currently focused in northwestern Ontario within the Eagle-Wabigoon-Manitou Lakes Greenstone Belts. In addition, Ashley has entered into a LOI to earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Darcy Christian, P.Geo., President of Ashley, who is a Qualified Person as defined by NI 43-101.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.
Cerro de Pasco Resources Provides Update
https://ca.finance.yahoo.com/news/cerro-pasco-resources-provides-134000150.html
Cerro de Pasco Resources
Tue, April 23, 2024 at 6:40 a.m. PDT·6 min read
GPPRF
0.00%
MONTREAL, April 23, 2024 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (Frankfurt: N8HP)
Kuya Silver Provides Update on Mine Start-Up and Uncovers New Major Silver-Mineralized Vein Zone South of the Bethania Mine, Peru Kuya
Targeting Commencement of Production at Bethania in H1 2024
https://www.newsfilecorp.com/release/206307
April 23, 2024 8:00 AM EDT | Source: Kuya Silver Corporation
Toronto, Ontario--(Newsfile Corp. - April 23, 2024) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1)
Dolly Varden Silver Outlines 2024 Resource Expansion and Discovery-Focused Exploration Drill Program
https://www.newsfilecorp.com/release/206500
April 23, 2024 8:00 AM EDT | Source: Dolly Varden Silver Corporation
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the "Company" or "Dolly Varden") is pleased to announce plans for the 2024 exploration drilling program at its 100% owned Kitsault Valley Project. An initial 25,000 meters of diamond drilling is planned, starting with three drills. The focus will be on following up on new discoveries as well as stepping out from wide, higher-grade intercepts from the 2023 drilling, particularly at the Homestake Silver and Wolf deposits. Mobilization will be in the first week of May, allowing for an earlier start on exploration than previous years due to a low snowpacks.
The drill program will be split approximately 50/50 between the Dolly Varden Property and the Homestake Ridge Property, with an overall project split of 1/3 to Homestake Silver deposit area, 1/3 to Wolf deposit area and 1/3 to project wide exploration targets with new discovery potential.
"Our drill results from Homestake Silver were among the highest-grade gold and silver intercepts anywhere in the Golden Triangle in 2023; our priority with this early start is to continue with step-outs as well as infill drilling to confirm continuity of the potentially bulk-mineable mineralization. Further south, silver mineralization at Wolf remains wide open for expansion and this seasons' introduction of directional drilling technology will allow for highly accurate placement of drill intercepts," said Shawn Khunkhun, CEO of Dolly Varden Silver.
Figure 1. Targets for the 2024 Exploration program along Dolly Varden's Kitsault Valley Trend
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_002full.jpg
Wolf Vein
At the Wolf Vein, drilling is planned to delineate the width and extent of the southerly plunge of wider and higher-grade silver mineralization. Step out holes that define the trace of the plunge are spaced so that any new mineralization can be included in a future resource update. The Company will implement directional drilling technology with the objective of more cost effective and accurate exploration at Wolf, particularly for deep holes.
Wolf Vein remains open to depth where results from 2023 drilling indicate an increase in base metal (lead and zinc) content as well as wider epithermal breccia vein silver mineralization, such as previous released step-out drill hole DV23-375, that intersected 296 g/t silver, 1.68% Pb and 3.01%Zn (461 g/t AgEq*) over 26.99 meters, including 1,475g/t Ag, 10.65% Pb and 12% Zn (2,260 g/t AgEq*) over 0.50 meter from an 81-metre step-out (from previous release: November 6, 2023).
Figure 2. Previously released result highlights (2022 and 2023) on Wolf Vein long section looking northwest showing open zones for follow up and trace of wider, higher-grade plunge as black line.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_003full.jpg
*AuEq and AgEq are calculated using two precious metal components at $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn. Assays are not capped and 100% recovery used for Ag and Au and base metals.
**Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated.
Homestake Silver
The program planned for Homestake Silver will start with follow up drilling on the newly discovered gold zone at the northern extent of deposit, where coarse-grained native gold in late-stage quartz-carbonate veins (Figure 3.) returned grades of 1,335 g/t Au and 781 g/t Ag over 0.68 meters within a wider interval of stockwork grading 79.49 g/t Au and 60 g/t Ag over 12.45 meters in drill hole HR23-389 (from previous release: February 12, 2024). Data from oriented core drilling indicates these quartz-carbonate veins are geologically younger and crosscut the Homestake trend at a low angle.
Figure 3. Visible Gold in quartz carbonate vein from drillhole HR23-389 at 410.00m depth.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_004full.jpg
The second part of Homestake Silver drilling will be resource expansion and upgrade holes that target the low angle, north dipping plunge of wide and high-grade gold and silver mineralization encountered in 2023 (Figure 4.). The mineralized plunge orientation at Homestake Silver was initially recognized in 2023 with results such as previously reported drill hole HR23-416, that intercepted the newly defined mineralized envelope returned a 93.95 meter wide zone grading 1.74 g/t Au and 213 g/t Ag (357 g/t AgEq) which included several distinct breccia vein intervals grading 11.80 g/t Au and 1,824 g/t Ag (2,802 g/t AgEq) over 9.16 meters length, 13.16 g/t Au and 3,085 g/t Ag (4,176 g/t AgEq) over 2.26 meters and 55.40 g/t Au and 4,830 g/t Ag (9,422 g/t AgEq) over 1.02 meters (previous release: January 16, 2024).
Figure 4. Homestake Ridge Long section looking southwest showing previous results of wide, highr grade plunge and new gold zone at Homestake Silver with 2024 target areas.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_005full.jpg
*AuEq and AgEq are calculated using two precious metal components at $US1650/oz Au, $US20/oz Ag, Assays are not capped and 100% recovery used for Ag and Au.
**Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated
Exploration Targets including Moose Vein
The Moose Vein is located 1.5 km up north of the Wolf Vein and is interpreted to be hosted within a similar cross cutting structure as Wolf. In 2023, drill hole DV23-371 from the Moose vein intercepted veining and mineralization similar to that seen at Wolf that graded 712 g/t Ag over 1.00 meter within a 7.55-metre-length interval averaging 269 g/t Ag (from previous release: November 6, 2024). This mineralization will be followed up by targeting down the same plunge trend as defined at Wolf.
Other Exploration targets on both the Homestake Ridge and Dolly Varden properties include targets within the 5.4 km long area between the southern end of Homestake Silver and Wolf Vein, under the mid-valley sedimentary cap rocks. Additionally, geophysical targets west of the Homestake Main deposit will be tested, within a parallel basin bounding structures similar to those hosting the Homestake Main and Homestake Silver deposits.
Other studies on road access, advanced metallurgy, wildlife, and baseline environmental monitoring as well as field mapping in underexplored areas of the property will be completed.
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is also determined by fire assay on a 30g split with either atomic absorption, or gravimetric finish, depending on grade range. Metallic screen on a 1.0kg sample may be completed on high-grade gold samples.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the "Qualified Person" as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
These forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company's most recently filed annual management discussion & analysis ("MD&A") and management information circular dated January 21, 2022 (the "Circular"), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange 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 news release.
For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com;
SOURCE: Dolly Varden Silver Corporation
Solaris Reports First Drilling Results from 2024 Program and Exploration Update, Including 150m of 0.67% CuEq within 384m of 0.51% CuEq and 284m of 0.53% CuEq from Near Surface
https://ca.finance.yahoo.com/news/solaris-reports-first-drilling-results-110000667.html
Solaris Resources
Tue, April 23, 2024 at 4:00 a.m. PDT·8 min read
SLSR
-0.55%
VANCOUVER, British Columbia, April 23, 2024 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; NYSE: SLSR)
Atico Produces 3.34 Million Pounds of Cu and 2,156 Ounces of Au in First Quarter 2024
https://ca.finance.yahoo.com/news/atico-produces-3-34-million-201500064.html
Atico Mining Corporation
Mon, April 22, 2024 at 1:15 p.m. PDT·4 min read
ATCMF
-1.05%
VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF)
Atacama Copper Intercepts 10.65 g/t AuEq over 7.8 m and 9.40 g/t AuEq over 2.2 m at Its Cristina Project in Chihuahua Mexico
https://www.newsfilecorp.com/release/206521
April 23, 2024 8:55 AM EDT | Source: Atacama Copper Corporation
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Atacama Copper Corporation (TSXV: ACOP)
Nickelex Signs Agreement to Acquire 100% of the Arlington Gold Property, British Columbia
https://www.newsfilecorp.com/release/206472
April 23, 2024 9:30 AM EDT | Source: Nickelex Resource Corporation
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Nickelex Resource Corporation (TSXV: NICK) ("Nickelex" or the "Company") has signed a letter agreement with Origen Resources Inc. ("Origen") on April 19, 2024 (the "Arlington Agreement"), to earn a 100% interest in nine claims, totaling 3,583.89 ha, located within the Boundary District of south-central British Columbia (the "Arlington Property").
The Arlington Agreement, which is subject to TSX Venture Exchange ("Exchange") acceptance ("Regulatory Approval"), provides that Nickelex may earn a 100% interest in the Arlington Property by meeting the following obligations to Origen, all by the first anniversary of Regulatory Approval:
making cash payments totaling $130,000 ($30,000 of which is reimbursement of costs associated with the Bond posted in regards to the current drill permit to be assigned to Nickelex);
incurring exploration expenditures of $250,000 on the Arlington Property; and
issuing shares to Origen valued at $200,000 within 7 days of Regulatory Approval; and issuing additional shares to Origen valued at $200,000, or 2 million shares, whichever is greater in aggregate value, by the first anniversary of Regulatory Approval.
Origen will retain a royalty of 2% of net smelter returns, provided that the Company may purchase 1% of such royalty at any time for the price of $1,000,000.
About the Arlington Property, Greenwood MD, B.C.
The Arlington Property is located in the West Kettle River Valley, south-central British Columbia, 17 km north of Beaverdell and 65 km south of Kelowna B.C. (see Location Map). The property consists of nine claims covering 3,583.89 hectares located in the Greenwood Mining Division. Historic work in the area was driven by the early success and discoveries made in the Beaverdell and Carmi Mining Camps during the late 1890s. Previous exploration on the Arlington property was conducted from the early 1970's to 1996 and from 2015 to 2021. In 2020/21, the Fresh Pots and Blockchain mineral claims were staked by Origen to encompass ground geologically similar to the adjoining Arlington claims. Origen conducted ground surveys on the Fresh Pots claims, consisting of soil and rock-chip sampling, ground magnetic surveys and geological mapping. It completed ~2,000 soil sampling surveys in 2021/22 which revealed a strong gold anomaly approximately 2,000 meters in a N-S direction and 1,000 meters in an E-W direction. The values ranged from 15 - 2300 ppb Au, with associated anomalous values of Cu, Co, Ag, and As. The Freshpots claims area has never been drilled before Origen conducted a back-pack drill hole (20 - 30 meters deep) in 2022. Assays from the core graded 2.18 ppm Au, 11.34 ppm Ag and 0.35% Cu over 0.70 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5345/206472_dde14c49a49ee8f7_002full.jpg
Nickelex is planning an initial exploration program consisting of detailed soil sampling, geological mapping, prospecting and trenching, followed by a 6-7 hole, 1,000m drill program during 2024. The objective of the program will be to determine the nature of mineralization and possible presence of gold skarn mineralization, similar to mineralization at the Buckhorn Mine located 8km south of the Canada/USA border.
In corporate news, the Company has terminated the private placement that was announced on October 24, 2023.
About Nickelex
Nickelex is a Malaspina-Manex Group Company. The Group provides expertise in exploration, administration, and corporate development services for Nickelex's operations:
Swift Katie gold/copper property is well located near Salmo, British Columbia in an area that has historically hosted several important mining districts and is underlain by rocks favourable for the discovery of both copper-gold porphyry deposits and high-grade gold quartz veins. Exploration to date has identified three separate Cu-Au deposits over an 1800 metre cumulative strike-length, and two prominent gold targets within a 2500-metre-long alteration zone which transects the southern part of the property. It is 100% owned. The Company has now received a permit allowing exploration by diamond drilling of up to 17 exploration sites in 2024.
Strong Project - Thompson, Manitoba nickel properties: The company holds an option to acquire interests in the Strong Project in the North Thompson Nickel Belt. The Agreement is subject to completion of certain conditions including receipt of Exchange approval. The Company has agreed with the optionor to hold completion of the agreement conditions in abeyance pending satisfaction of certain conditions precedent.
Pilar Gold Inc. and Laiva Gold Inc.: operations in Brazil and Finland. Nickelex participated in the funding, acquisition and development of several gold properties and mines in Brazil, ultimately selling its interests in such Brazilian properties to Pilar Gold in exchange for 4 million shares of Pilar Gold with an ascribed book value of C$2,400,000. Upon the formation of Laiva Gold Inc. by Pilar Gold to acquire a mine and mill in Finland, Nickelex received 500,000 shares of Laiva Gold at a current valuation of C$400,000. Pilar Gold operates the Pilar gold mine in Brazil and plans to restart the high-grade Sertão mine in 2024. Laiva Gold owns the Laiva gold mine and mill in Finland and plans to restart operations this year. Both Pilar Gold and Laiva Gold intend to list its shares on a Canadian Stock Exchange in 2024.
John R. Kerr. P. Eng., is the President of Nickelex Resource Corporation and a Qualified Person as defined by National Instrument 43-101. He has read and approves the technical content of this release.
On behalf of the Board of Directors,
"John Kerr"
John Kerr, President, Nickelex Resource Corporation
For further information, please visit Nickelex's website at www.nickelexresource.com or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.
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.
This news release may contain forward-looking statements including but not limited to comments regarding the completion of the property transaction, the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements in this news release include statements regarding the exercise of the option to acquire a 100% interest in the Arlington Property, Exchange acceptance of the Arlington Agreement, future exploration plans and expenditures on the Arlington Project, and Exchange acceptance of the Strong project acquisition. 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. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Nickelex Resource Corporation's projects, and the availability of financing for Nickelex Resource Corporation's projects on reasonable terms. 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, and continued availability of capital and financing and general economic, market or business conditions. Nickelex Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
SOURCE: Nickelex Resource Corporation
Sitka to Acquire 100% Ownership of the Barney Ridge Property Adjacent to the Blackjack and Eiger Gold Deposits at its RC Gold Project, Yukon
https://thenewswire.com/press-releases/1LaPFdRWZ-sitka-to-acquire-100-ownership-of-the-barney-ridge-property-adjacent-to-the-blackjack-and-eiger-gold-deposits-at-its-rc-gold-project-yukon.html
VANCOUVER, CANADA – TheNewswire - April 23, 2024: Sitka Gold Corp. (“Sitka” or the “Company”) (TSXV:SIG) (FSE:1RF) (OTCQB:SITKF)
Golden Sky Announces Commencement of a Geophysical IP Survey at the Rayfield Copper-Gold Property, South-Central British Columbia
https://ca.finance.yahoo.com/news/golden-sky-announces-commencement-geophysical-024100266.html
Golden Sky Minerals Corp.
Mon, April 22, 2024 at 7:41 p.m. PDT·7 min read
LCKYF
0.00%
VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) (“Golden Sky” or “The Company”) is pleased to announce that it has commenced a 15-line kilometre geophysical induced-polarization (IP) survey at the Rayfield Target zone on its 100%-owned Rayfield Copper-Gold Property in south-central British Columbia, Canada (Figures 1 & 2). The geophysical program is designed to test the core of the 3.0 km x 1.5 km soil geochemical anomaly to a depth of up to 700 m (Figure 3). Phase 2 will consist of up to 3,000 metres of diamond drilling to test the geochemical anomalies and geophysical anomalies identified from the IP survey.
The 35,000-hectare Rayfield property is located in the Quesnel Trough, British Columbia’s primary copper-producing belt, which hosts Teck Resources’ Highland Valley Mine, Imperial Metals’ Mount Polley Mine, Centerra Gold’s Mount Milligan Mine, and Kodiak Copper’s MPD Project (see Figure 1). The road-accessible Rayfield copper-gold property is located approximately 20 kilometers east of the town of 70 Mile House, British Columbia, and is accessible year-round by well-maintained service and logging roads extending from BC Highway 97.
John Newell, President and CEO of Golden Sky Minerals, states: “The management, directors, and geological team at Golden Sky Minerals are pleased to announce the commencement of an IP Survey at our Rayfield property. Upon completion, we will share the valuable insights gained from this survey with the market. These insights will also be integrated into our exploration database, which already includes meticulously compiled exploration data from the past 30 months. This information will be instrumental in planning our upcoming drill program scheduled for later this year.
With current record-high gold prices and a recent strong rebound in copper prices from their recent lows suggest to us that the progress and advancements made at the Rayfield Copper-Gold Project over the past two years have been and should continue to be well-timed. Our staking activities and other developments on this highly prospective district-scale property have potentially positioned us strategically to participate in stronger metals markets.
Golden Sky Minerals looks forward to conducting a comprehensive range of exploration activities in the 2024 field season, including our inaugural diamond drilling program, to further advance this promising property.
Rayfield Property Highlights
The Rayfield Property contains the late Triassic alkalic Rayfield River Pluton, speculated to be part of the highly prospective Upper Triassic Copper Mountain Magmatic Belt, which includes the Copper Mountain, New Afton and Mount Polley copper deposits (Figure 1).
In 2006, the Geological Survey of Canada conducted a geophysical program, which included magnetic and radiometric surveys, over the Rayfield Property. The resulting elevated magnetic and potassic anomalies are largely underexplored and show similar characteristics to those signifying other alkalic copper-gold porphyries in the Quesnel Terrane. Fieldwork by Golden Sky has confirmed a close correlation between the volume of sheeted and stockwork quartz veining and magnetic low features. These magnetic lows are also coincident with elevated values of the pathfinder elements manganese (Mn), zinc (Zn), vanadium (V,) and barium (Ba), which are commonly associated with sericitic/propylitic alteration typically bounding the core of a porphyry system.
Recent fieldwork by Golden Sky has outlined a 3.0 km x 1.5 km copper-in-soil geochemical anomaly that remains open to the northwest and to the southeast (Figure 3). Within this anomaly are several soil samples that assayed up to ~4,000 ppm Cu, and rock samples that assayed up to 6,319 ppm (0.63%) Cu and 245.5 ppb Au (Sample 118884; see Oct 31, 2023 news release).
Historic exploration on the Property has been largely constrained to a ~505-hectare zone hosting an extensive copper-gold porphyry system outlined by soil sampling, historic drilling, and shallow-penetration radiometric and IP geophysical surveying. Mineralization in several historic drillholes extends from surface to end of hole, at approximately 150-300 m of depth, which suggests that the mineralized porphyry system remains open at depth. Previous exploration programs were unable to definitively identify the exact orientation of the porphyry system, but mapping by Golden Sky has confirmed at least two main orientations of mineralized quartz veins in the area. These are a northwest striking, steeply northeast dipping set, and an east-west striking, moderately north-dipping set.
In 1989, a 34 line-kilometer IP survey on the Rayfield Target zone outlined several chargeability “high” zones, which were subsequently tested by drilling programs in 1989, 1990, and 2008. Importantly, due to the shallow response of the survey (limited to ~125 m depth), these anomalies are interpreted to remain open at depth. Golden Sky believes that, with modern exploration methods, there is significant potential to discover additional mineralized zones at depth (Figure 4).
Exploration drilling on the property from the 1970s to the early 2000s totalled just 60 holes (7,774.2 meters), with the majority being shallow percussion holes typically <60 m in depth. Historic drilling outlined a broad footprint (450 m x 2,100 m) of low-grade copper mineralization and hydrothermal alteration indicating potential for a robust copper-gold porphyry system.
1970 Exploration Program: 31 percussion holes totalling 1,748 m
Drillhole highlights include: 0.42% Cu over 6.1m
1989 Exploration Program: 8 diamond drillholes totalling 1,141 m
Drillhole highlights include: 0.18% Cu and 71 ppb Au over 33.9 m; 0.14% Cu and 30 ppb Au over 66.7 m
1990 Exploration Program: 14 diamond drillholes totalling 3,337 m
Drillhole highlights include: 0.13% Cu and 35 ppb Au over 152 m (EOH)
2008 Exploration Program: 7 diamond drillholes totalling 1,548.2 m
Drillhole highlights include: 0.13% Cu and <10 ppb Au over 67 m
Many shallow historical drill intercepts on the Rayfield Property have similar grades to historic holes reported during early exploration phases on some neighboring alkalic copper-gold porphyries within the Quesnel Terrane. Further drilling is warranted to explore zones of mineralization along strike and to depth.
Picture1
Figure 1: The ~35,000-hectare Rayfield Cu-Au Property is located within the Quesnel Trough, British Columbia’s primary copper-producing belt.
Picture2
Figure 2: The Rayfield target zone is defined by a large 3.0 km x 1.5 km multi-element soil geochemical anomaly. The Rayfield target zone is highly prospective, with anomalous copper-in-soil values grading up to ~0.40%, and rock samples grading up to 0.63% Cu and 245 ppb Au. Numerous other target zones also exist across the extensive 35,000-hectare Rayfield Property.
Picture3
Figure 3: Copper-in-soil assays (2021-2022) overlying TMI Aeromagnetic survey. Elevated values in copper also coincide with pathfinder geochemical elements commonly associated with deeper sericitic and/or propylitic alteration, typically bounding the higher-grade core of porphyry systems. See Figure 4 for cross section A-A’.
Picture4
Figure 4: Cross-section A-A’ outlined in Figure 3. Historical diamond drill results with interpreted potassic zone of the porphyry system flanked by lower-grade copper within propylitic/phyllic zones. Historical induced polarization surveys extend only to ~125m of depth and many of the historical drill holes ended in mineralization. Mineralization is interpreted to remain open along strike and at depth.
About Golden Sky Minerals Corp.
Golden Sky Minerals Corp. is a well-funded junior grassroots explorer engaged in the acquisition, assessment, exploration, and development of mineral properties located in highly prospective areas and mining-friendly districts. Golden Sky’s mandate is to develop its portfolio of Properties to the mineral resource stage through systematic exploration.
The drill-ready properties include Hotspot and Lucky Strike, both in Yukon, Canada. In addition, the drill-ready Rayfield Copper-Gold Property in southern British Columbia, and the staking of the Auden Property in Ontario, add to the company’s substantial early-stage Canadian property pipeline.
The company was incorporated in 2018 and is headquartered in Vancouver, British Columbia, Canada.
More information can be found at the Company’s website at www.goldenskyminerals.com
ON BEHALF OF THE BOARD
John Newell, President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Golden Sky’s British Columbia exploration projects, and has reviewed and approved the technical information in this release.
For new information from the Company's programs, please visit Golden Sky's website at www.GoldenSkyMinerals.com or contact John Newell by telephone (604) 568-8807 or by email at info@goldenskyminerals.com or john.newell@goldenskyminerals.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
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Golden Sky has attempted to identify important factors and risks that could affect Golden Sky and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Golden Sky’s expectations; accidents, equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on its projects; that Golden Sky may not be able to confirm historical exploration results and other risks set forth in Golden Sky's public filings at www.sedar.com. In making the forward-looking statements in this news release, Golden Sky has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking 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. Except as required by law, Golden Sky does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Nickelex Signs Agreement to Acquire 100% of the Arlington Gold Property, British Columbia
https://www.newsfilecorp.com/release/206472
April 23, 2024 9:30 AM EDT | Source: Nickelex Resource Corporation
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Nickelex Resource Corporation (TSXV: NICK) ("Nickelex" or the "Company") has signed a letter agreement with Origen Resources Inc. ("Origen") on April 19, 2024 (the "Arlington Agreement"), to earn a 100% interest in nine claims, totaling 3,583.89 ha, located within the Boundary District of south-central British Columbia (the "Arlington Property").
The Arlington Agreement, which is subject to TSX Venture Exchange ("Exchange") acceptance ("Regulatory Approval"), provides that Nickelex may earn a 100% interest in the Arlington Property by meeting the following obligations to Origen, all by the first anniversary of Regulatory Approval:
making cash payments totaling $130,000 ($30,000 of which is reimbursement of costs associated with the Bond posted in regards to the current drill permit to be assigned to Nickelex);
incurring exploration expenditures of $250,000 on the Arlington Property; and
issuing shares to Origen valued at $200,000 within 7 days of Regulatory Approval; and issuing additional shares to Origen valued at $200,000, or 2 million shares, whichever is greater in aggregate value, by the first anniversary of Regulatory Approval.
Origen will retain a royalty of 2% of net smelter returns, provided that the Company may purchase 1% of such royalty at any time for the price of $1,000,000.
About the Arlington Property, Greenwood MD, B.C.
The Arlington Property is located in the West Kettle River Valley, south-central British Columbia, 17 km north of Beaverdell and 65 km south of Kelowna B.C. (see Location Map). The property consists of nine claims covering 3,583.89 hectares located in the Greenwood Mining Division. Historic work in the area was driven by the early success and discoveries made in the Beaverdell and Carmi Mining Camps during the late 1890s. Previous exploration on the Arlington property was conducted from the early 1970's to 1996 and from 2015 to 2021. In 2020/21, the Fresh Pots and Blockchain mineral claims were staked by Origen to encompass ground geologically similar to the adjoining Arlington claims. Origen conducted ground surveys on the Fresh Pots claims, consisting of soil and rock-chip sampling, ground magnetic surveys and geological mapping. It completed ~2,000 soil sampling surveys in 2021/22 which revealed a strong gold anomaly approximately 2,000 meters in a N-S direction and 1,000 meters in an E-W direction. The values ranged from 15 - 2300 ppb Au, with associated anomalous values of Cu, Co, Ag, and As. The Freshpots claims area has never been drilled before Origen conducted a back-pack drill hole (20 - 30 meters deep) in 2022. Assays from the core graded 2.18 ppm Au, 11.34 ppm Ag and 0.35% Cu over 0.70 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5345/206472_dde14c49a49ee8f7_002full.jpg
Nickelex is planning an initial exploration program consisting of detailed soil sampling, geological mapping, prospecting and trenching, followed by a 6-7 hole, 1,000m drill program during 2024. The objective of the program will be to determine the nature of mineralization and possible presence of gold skarn mineralization, similar to mineralization at the Buckhorn Mine located 8km south of the Canada/USA border.
In corporate news, the Company has terminated the private placement that was announced on October 24, 2023.
About Nickelex
Nickelex is a Malaspina-Manex Group Company. The Group provides expertise in exploration, administration, and corporate development services for Nickelex's operations:
Swift Katie gold/copper property is well located near Salmo, British Columbia in an area that has historically hosted several important mining districts and is underlain by rocks favourable for the discovery of both copper-gold porphyry deposits and high-grade gold quartz veins. Exploration to date has identified three separate Cu-Au deposits over an 1800 metre cumulative strike-length, and two prominent gold targets within a 2500-metre-long alteration zone which transects the southern part of the property. It is 100% owned. The Company has now received a permit allowing exploration by diamond drilling of up to 17 exploration sites in 2024.
Strong Project - Thompson, Manitoba nickel properties: The company holds an option to acquire interests in the Strong Project in the North Thompson Nickel Belt. The Agreement is subject to completion of certain conditions including receipt of Exchange approval. The Company has agreed with the optionor to hold completion of the agreement conditions in abeyance pending satisfaction of certain conditions precedent.
Pilar Gold Inc. and Laiva Gold Inc.: operations in Brazil and Finland. Nickelex participated in the funding, acquisition and development of several gold properties and mines in Brazil, ultimately selling its interests in such Brazilian properties to Pilar Gold in exchange for 4 million shares of Pilar Gold with an ascribed book value of C$2,400,000. Upon the formation of Laiva Gold Inc. by Pilar Gold to acquire a mine and mill in Finland, Nickelex received 500,000 shares of Laiva Gold at a current valuation of C$400,000. Pilar Gold operates the Pilar gold mine in Brazil and plans to restart the high-grade Sertão mine in 2024. Laiva Gold owns the Laiva gold mine and mill in Finland and plans to restart operations this year. Both Pilar Gold and Laiva Gold intend to list its shares on a Canadian Stock Exchange in 2024.
John R. Kerr. P. Eng., is the President of Nickelex Resource Corporation and a Qualified Person as defined by National Instrument 43-101. He has read and approves the technical content of this release.
On behalf of the Board of Directors,
"John Kerr"
John Kerr, President, Nickelex Resource Corporation
For further information, please visit Nickelex's website at www.nickelexresource.com or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.
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.
This news release may contain forward-looking statements including but not limited to comments regarding the completion of the property transaction, the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements in this news release include statements regarding the exercise of the option to acquire a 100% interest in the Arlington Property, Exchange acceptance of the Arlington Agreement, future exploration plans and expenditures on the Arlington Project, and Exchange acceptance of the Strong project acquisition. 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. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Nickelex Resource Corporation's projects, and the availability of financing for Nickelex Resource Corporation's projects on reasonable terms. 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, and continued availability of capital and financing and general economic, market or business conditions. Nickelex Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
SOURCE: Nickelex Resource Corporation
Trailbreaker Commences Drilling at the Liberty Copper Property, BC.
https://ca.finance.yahoo.com/news/trailbreaker-commences-drilling-liberty-copper-114500990.html
Trailbreaker Resources Ltd.
Tue, April 23, 2024 at 4:45 a.m. PDT·3 min read
APRAF
+4.79%
VANCOUVER, British Columbia, April 23, 2024 (GLOBE NEWSWIRE) -- Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce that it has commenced its 2024 drill program focussing on the copper-molybdenum (Cu-Mo) porphyry target at its 100% owned Liberty property in central British Columbia (BC). The program comprises up to 2,000 m of diamond drilling, testing a Cu-Mo ± gold (Au) ± silver (Ag) geochemical soil anomaly1 coincident with an induced polarization (IP) chargeability and resistivity anomaly.
A historic drillhole by Rio Tinto returned an interval of 123.1 m grading 0.11% Cu and 0.04% MoS21 from surface to end of hole. This hole was located 300 m directly south of the geophysical and geochemical targets now being tested. The historic drill hole is interpreted by the company as collared at the margin of a mineralized porphyry body. Reprocessing and 3D inversion imaging of the historic IP data were completed earlier this year and is being utilized in the drill targeting process.
Message from the President
“We are excited to start the season with the first drill program at Liberty since the 1960s. Historic drill results from the only drillhole to test the porphyry target provide a great anchor to our exploration thesis and prove we are in a mineralized system. The new geophysical and geochemical interpretations of the Cu-Mo system have helped create strong drill targets and we look forward to updating our shareholders as soon as we interpret the results.” -Daithi Mac Gearailt
Liberty Property Description
The 5,054-hectare Liberty Property is located approximately 60 km northwest of Quesnel, BC. The property is fully accessible by resource roads.
The primary target of the Liberty project is a northwest-trending Cu-Mo ± Au ± Ag Mobile Metal Ion (MMI) soil anomaly1. This overlaps an IP chargeability1 feature on the margin of the granitic intrusion. A historic drill hole to the south of this coincident anomaly returned an interval of 123.1 m of 0.11% Cu and 0.04% MoS21. For more information on this target see our news release dated January 22, 2024 and the Liberty Project webpage.
In addition to the Cu-Mo porphyry target and the Cu-skarn target, which returned assay values of >8.0% Cu from historic trenching2, the expanded property also covers an epithermal gold target, where epithermal vein textures have been observed in a road cut2. Nearby soil and test pit samples returned anomalous grades of gold (Au) and arsenic (As)2. These may represent a lower-temperature epithermal portion of the hydrothermal system.
Drill being aligned at hole 1 on the Liberty copper property.
Photo 1: Drill being aligned at hole 1 on the Liberty copper property.
About Trailbreaker Resources
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.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.
References
1) https://apps.nrs.gov.bc.ca/pub/aris/Report/32899.pdf/
2) https://apps.nrs.gov.bc.ca/pub/aris/Report/35992.pdf/
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking 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. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aa9dcbb6-8253-4ab6-91dd-d233e2bab623
Element79 Gold Reports Additional Assay Results Reinforcing Lucero Project's Momentum
https://thenewswire.com/press-releases/1BQPFWDZr-element79-gold-corp-reports-additional-assay-results-reinforcing-lucero-project-s-momentum.html
VANCOUVER, BC / TheNewswire / April 23, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0)
Pegmatite One Options Dort Gold Property in Central British Columbia
https://www.newsfilecorp.com/release/206178
April 19, 2024 10:01 AM EDT | Source: Pegmatite One Lithium and Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 19, 2024) - Pegmatite One Lithium and Gold Corp. (CSE: PGA) ("Pegmatite One" or the "Company") is pleased to announce it has entered into an arm's length option agreement ("Option Agreement") with prospector Bernie Kreft ("Kreft") under which the Company can earn a 100% interest in the Dort project (the "Project") located in the Omineca Mining Division, central British Columbia and about 10 kilometers southwest of the Kemess Mine Road.
Dort Highlights
The Dort property is strategically located close to infrastructure in an area of historic producers, well documented gold and base metal occurrences and several recent discoveries.
The Dort Project totals 857.2 hectares and is located approximately 5km west of Pacific Ridge Exploration Ltd.'s Kliyul Main Zone in the prolific Quesnel Terrane in north central British Columbia, Canada.
Pacific Ridge has completed more than 17,500m of diamond drilling on the copper-gold-silver KMZ and it has been the focus of the company's exploration since 2020.
Dort is an orogenic gold target that shares geological similarities with the Spanish Mountain Gold Deposit where proven and probable gold, and with Kestrel Gold's QCM project where recent RC drill results include 2.3 g/t Au over 44.19 metres.
Geology consists of Takla Group volcanics, volcaniclastics and sediments that are carbonate and sericite altered, sheared and cut by quartz veins and quartz vein stockworks.
Mineralization consists of gold, occasionally in its native form, silver and minor sulphides including pyrite, in quartz veins and stockworks, with sulphides also found within shear zones or altered wallrock adjacent to quartz veining.
The Dort property is 52 kilometers southeast of the past producing Kemess South Mine and the recent NorthWest Copper Corp East Niv Discovery (2022).
Figure 1: Area overview of Dort Property
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9391/206178_3825efd294dbbb58_001full.jpg
"We are delighted to announce the option of the Dort Property, which represents a promising addition to our portfolio," said Kelly Abbott, CEO of Pegmatite One. "We consider the project to be a significantly under-explored high potential prospect located in an area of advanced mineral exploration and development activity. The company looks forward to completing an in-depth review of existing local and regional data including the application of new technology and understanding of gold-copper deposits to implement exploration of the Dort property."
Although gold has been known to occur in the area since the 1940's, exploration of the property has been limited. Despite the historic preliminary nature exploration, of activity, six gold occurrences have been documented on the site. From north to south, they are:
Hemlo Zone - The site of the only diamond drilling completed to date on the property reported an intersection 0.98 g/t Au over 1.54 m.
GV Zone - Reported up to 215 g/t gold in rock sample.
Creek Zone - Reported up to 32.5 g/t Au in rock sample.
Mariposite Creek - Reported up to 15.5 g/t Au over 125 m wide zone.
TF Zone - Reported up to 9.7 g/t Au over 600 m wide zone.
Red Bluffs - Reported up to 495 ppb Au in soil samples over 400 m wide zone.
Figure 2: Dort Property Historical Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9391/206178_3825efd294dbbb58_002full.jpg
Figure 3: Dort Property Tenures
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9391/206178_3825efd294dbbb58_003full.jpg
Agreement Terms
Pegmatite One's right to exercise the option and earn a 100% interest in the Project is subject to the terms of the Option Agreement. As consideration for Kreft to enter the Option Agreement, Pegmatite One shall issue common shares (the "Shares") to Kreft as follows: (i) $5,000 in Shares on or before the 10th day following the signing of the Option Agreement, (ii) $45,000 in Shares on or before April 18, 2025; and (iii) $25,000 worth of Shares prior to the commencement of any form of a drill program on the Property.
The Shares will be issued at the price that is the volume-weighted average trading price of the Shares on the Canadian Securities Exchange (the "Exchange") for the 30 trading days ending five trading days prior to the issuance of such Shares ("VWAP"), subject to a floor price equal to the minimum price per security allowed by the Exchange. Any such Shares issued will be subject to a statutory hold period of four months and one day and issued issuance. Further, Pegmatite One shall have the right, in its sole discretion, to complete any Share issuances by paying cash in lieu of issuing Shares.
Upon commencement of commercial production, Pegmatite One shall pay to Kreft the 2.5% royalty. Pegmatite One shall be entitled at any time, up to the commencement of commercial production, to purchase 2/5 of the royalty (i.e. a royalty equal to 1.0% of Net Smelter Returns) from Kreft for $1,000,000.
About Pegmatite One
Pegmatite One Lithium and Gold Corp. is a publicly traded company focused on the exploration of lithium and gold resources. Committed to responsible mining practices, the company operates two mineral exploration properties in British Columbia.
Their Georgina property, situated in the Nanaimo mining division on Vancouver Island, British Columbia, covers an area of 2,069 hectares and represents a gold prospect. Meanwhile, their latest acquisition, the Dort Project, located in Northern British Columbia, spans approximately 857 hectares and presents significant potential for gold exploration.
Pegmatite One's strategic approach involves leveraging historical data and deploying advanced technologies to maximize the value of their exploration efforts. With a dedication to sustainable resource development, Pegmatite One is poised to drive growth and success in the lithium and gold mining sector.
Qualified Person Statement
Brian Atkinson, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
Forward-Looking Statements
Forward-Looking Information and Cautionary Statements Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: Dort Property; the Project; the stated benefits, terms, and timelines associated with the Option Agreement, including, the conducting of an in-depth in-depth review of existing local and regional data, the Property the Company's stated positive assessments of the Property; the Company's ability to fulfill its obligations under the Option Agreement, including obtaining all necessary Exchange, regulatory and third party approval, the Company to issue the Shares or pay cash in lieu of; the Company's proposed exercising of the option, exploration, drilling, and production on the Property and its other properties; the Company's focus on the exploration on lithium and gold resources; the Company's commitment to responsible mining practices; and the Company operations of its two mineral exploration properties in British Columbia.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company's ability to manage and meet the timing and costs of future activities on the Company's Properties; the Company's ability to maintain its mineral tenures and concessions in good standing; the Company's ability to manage the economic conditions or financial markets; the Company's ability to manage the inherent hazards associates with mineral exploration and mining operations; future prices of metals; changes in general economic conditions; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the its projects located on its Properties, and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for such projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry; the Company's ability to realize the stated benefits of Dort Property and the Project; the Company's ability to realize and fulfill the stated benefits, terms, and timelines associated with the Option Agreement; the Company's ability to fulfill its obligations under the Option Agreement; the Company's ability to carry out the proposed exercising of the option; the Company's ability to continue its focus on the exploration on lithium and gold resources; the Company's ability to fulfill its commitment to responsible mining practices; and the Company ability to continue its operations of its two mineral exploration properties in British Columbia.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to manage and meet the timing and costs of future activities on the Company's properties; the Company's inability to maintain its mineral tenures and concessions in good standing; the Company's inability to manage the economic conditions or financial markets; the Company's inability to manage the inherent hazards associates with mineral exploration and mining operations; adverse changes to future prices of metals; adverse changes in general economic conditions; the lack of new discoveries; the inability of the Company to obtain the necessary permits and consents required to explore, drill and develop the its projects located on its properties, and if obtained, its inability to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for such projects; the inability of the Company to monetize its mineral resources; and adverse changes in environmental and other laws or regulations that will have an impact on the Company's operations, the Company's inability to maintain compliance with environmental laws and regulations, the adverse effects resulting from its dependence on key management personnel and adverse changes due to the general competition in the mining industry; the Company's inability to realize the stated benefits of Dort Property and the Project; the Company's inability to realize and fulfill the stated benefits, terms, and timelines associated with the Option Agreement; the Company's inability to fulfill its obligations under the Option Agreement; the Company's inability to carry out the proposed exercising of the option; the Company's inability to continue its focus on the exploration on lithium and gold resources; the Company's inability to fulfill its commitment to responsible mining practices; and the Company inability to continue its operations of its two mineral exploration properties in British Columbia.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
On Behalf of the Board of Directors,
Pegmatite One Lithium and Gold Corp.
Kelly Abbott
President & CEO
Email: kelly@pegmatiteone.com
Website: www.pegmatiteone.com
Phone: +1 (416) 481-2222 x228
SOURCE: Pegmatite One Lithium and Gold Corp.
WEST MINING CORE SAMPLING PROGRAM DESIGNED TO UPGRADE CURRENT RESOURCE ON ITS 100% OWNED KENA PROJECT
https://ca.finance.yahoo.com/news/west-mining-corp-core-sampling-203000533.html
West Mining Corp.
Fri, April 19, 2024 at 1:30 p.m. PDT·6 min read
WESMF
0.00%
VANCOUVER, B.C., April 19, 2024 (GLOBE NEWSWIRE) -- WEST MINING CORP. (“WEST” OR THE “COMPANY”) (CSE: WEST) (OTC: WESMF) (FRA: 1HL)
LUCA REPORTS STRONG PRODUCTION FOR Q1 2024
https://www.newswire.ca/news-releases/luca-reports-strong-production-for-q1-2024-879264653.html
Luca Mining Corp. Apr 22, 2024, 04:00 ET
VANCOUVER, BC, April 22, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) reports strong Q1 2024 production of 14,148 troy oz of gold equivalent as our Tahuehueto gold and silver mine ramps up towards its 1,000 ton per day commercial production target and the optimization program rapidly progresses at Campo Morado.
The Tahuehueto gold and silver mine in Durango state, produced approximately 3,657 troy oz of gold equivalent comprised of 43 tonnes of copper, 468 tonnes of zinc, 2,368 troy ounces of gold, 27,396 troy ounces of silver and 251 tonnes of lead in Q1 2024, an increase of 18% from Q4 2023.
The second mill at Tahuehueto has been installed and underwent a successful commissioning period. In March 2024, the site was achieving approximately 60% of total installed milling capacity and a record of over 14,000 dry metric tons (dmt) milled (approximately 46% increase over February 2024). At this rate Tahuehueto is expected to declare commercial production as a brand-new gold and silver mine and achieve positive operating cash flow in 2H 2024.
The Campo Morado copper-zinc mine in Guerrero state, produced approximately 10,491 troy ounces of gold equivalent comprised of 748 tonnes of copper, 2,600 tonnes of zinc, 1,929 troy ounces of gold, 180,108 troy ounces of silver and 410 tonnes of lead in Q1 2024. This is an increase of approximately 25% from the previous quarter.
These strong results do not reflect the full potential of the optimization program which continues to be implemented at Campo Morado. New blending and reagent protocols have yielded higher concentrate grades and recoveries, and the mine is already generating positive operating cash flow. Ongoing improvements to grade control, reagent dosing systems, process controls and metallurgical testing will provide more benefits through the production of three separate, higher value concentrates – copper, zinc, and lead, expected to take place in H2 2024 which will further increase revenue and operating cash flow.
Ramon Perez, President, and Interim CEO, commented, "We are pleased with the continued performance of the operations at both Campo Morado and Tahuehueto. Having returned from the Tahuehueto Mine, I am very encouraged with the speed and progress we are making at site. We have already achieved over 60% of the nameplate capacity. A third filter press is enroute to the plant, which following installation, will allow for the tonnage to reach full capacity of 1,000 tpd. We are in the final stages of commissioning and look forward to declaring commercial production in H2 2024.
At Campo Morado we are currently milling 1,600 tpd of our 2,400 tpd capacity. and are increasing the quality of our bulk and zinc concentrates. As we continue to modernise our equipment we expect the milling rate to increase in Q2 2024. In addition, the optimization program is also moving forward at a rapid pace with the ultimate objective to produce three separate, salable concentrates of copper, zinc and lead which will further enhance cash flow. I will be updating the market on this progress shortly."
1.
Gold equivalents are calculated using an 88.97:1 (Ag/Au), 0.001:1 (Au/Zn), 0.002:1 (Au/Cu) and 0.0004:1 (Au/Pb) ratio for Q1 2024
Operational Performance
Campo Morado
The Campo Morado copper-zinc mine in Guerrero state, processed approximately 125,105 tonnes of ore during Q1 2024, meeting expectations of the mine plan. Campo Morado has seen improvements in metallurgical recovery and bulk concentrate grades during the quarter which are the direct result of the ongoing improvement project. In Q1, improvements to ore blending, reagent dosing and equipment refurbishments have had a positive impact to operating results.
Tahuehueto
The Tahuehueto gold, silver mine in Durango state, currently in pre-production, processed approximately 33,319 tonnes of ore in Q1 2024, an increase of 42% from Q4 2023. Construction of permanent access to the pumping ponds at the tailings storage facility is ongoing. All peripheral installations of the second mill have been completed with the final testing ongoing throughout Q1. Additionally, the installation of the second filter press has been completed and is now operational. Throughput for the month of January was 9,665 tonnes and in the month of February was 9,617 tonnes, which continues to increase systematically as ramp up continues. In March, Tahuehueto achieved a new daily milling record of 703 tonnes and a monthly record of over 14,000 tonnes.
We caution that as with any company bringing a new mine into production, the monthly results may vary dramatically while operations are halted for plant installations and testing, and we do not expect to report consistent, stable results until commercial production is achieved at Tahuehueto, which is expected by H2 2024.
Furthermore, we will not be able to provide guidance on certain metrics for Tahuehueto such as "All In Sustaining Costs", until commercial production is achieved. We do not expect to report consistent, stable results until commercial production is achieved at Tahuehueto, which is expected by H2 2024.
1.
Gold equivalents are calculated using an 88.97:1 (Ag/Au), 0.001:1 (Au/Zn), 0.002:1 (Au/Cu) and 0.0004:1 (Au/Pb) ratio for Q1 2024
About Luca Mining Corp.
Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two 100%-owned producing mines in Mexico. The Company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside.
The Campo Morado mine, is an underground operation located in Guerrero State, a prolific mining region in Mexico. It produces copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimisation program which is already generating significant improvements in recoveries and grades, efficiencies, and cashflows.
The Tahuehueto Gold, Silver Mine is a new underground operation in Durango State, Mexico, within the Sierra Madre Mineral Belt which hosts numerous producing and historic mines along its trend. The Company is commissioning its mill capacity to 1,000 tonnes per day, and key test work and production ramp-up is underway, to increase production by 2H 2024.
The Company expects its operations to start generating positive cash flows in 2024. Luca Mining is focused on growth with the aim of maximizing shareholder returns.
For more information, please visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Ramon Perez"
Ramon Perez
President and Interim CEO
Qualified Persons
The technical information contained in this News Release has been reviewed and approved by Mr. Chris Richings, Vice-President Technical at Luca Mining as the Qualified Person for the Company as defined in National Instrument 43-101.
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ("PEA") mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018).
Positive operating cash flow is defined as excluding capital, debt repayment and Trafigura financing.
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the planned program to improve mining operations at Campo Morado; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; that the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves 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 future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking 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. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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 Luca Mining Corp.
For further information: Sophia Shane, Director of Corporate Development, sshane@lucamining.com; or Glen Sandwell, Corporate Communications Manager, ir @chas7
Myriad Uranium: Mining Lease Secured at Copper Mountain, Setting the Stage for Future Production
https://www.newsfilecorp.com/release/206309
April 22, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that its earn-in partner at the Copper Mountain Uranium Project, Rush Rare Metals Corp. ("Rush"), has entered into a 20-year mining lease (the "Lease") with Diamond X Ranch, LLC ("Diamond X") dated April 9, 2024, with automatic extensions if mining is in progress. The area subject to the Lease (see Figure 1 below) forms part of the Copper Mountain Uranium Project, in which Myriad has a 75% earnable interest pursuant to a property option agreement with Rush. With the Lease, the size of the Copper Mountain Uranium Project increases by 320 acres from 3,886 to 4,206 acres.
Figure 1: Copper Mountain area leased from Diamond X
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206309_ea5d38fe14665b63_002full.jpg
Under the Lease, Myriad has paid Diamond X a US$5,000 signing bonus and the first-year property lease payment of US$8,000 (US$25 per acre). Uranium produced from portions of the leased area where Diamond X holds only surface rights will attract a flat 1% royalty on net returns. Uranium produced from areas where Diamond X holds both surface and mineral rights will attract a flat 3% royalty on net returns. "Net returns" means realised proceeds from the sale of uranium less processing, transportation, and some other costs.
The addition of the Diamond X claims is significant, as it completes the picture for the central part of the overall Myriad Uranium claims and secures the eastern portions of the North Canning (Canning) deposit area. The Canning deposit is known to contain between 8.79 Mlbs (at 0.017% eU3O8) and 19.0 Mlbs (at 0.039% eU3O8), as previously reported here, and is the primary target for planned verification work that is to be undertaken during the upcoming summer field season.
Thomas Lamb, Myriad's CEO, said: "This is a critical area at Copper Mountain and we're delighted to conclude a lease with Diamond X for access to it on fair terms. We have reasons to be optimistic that verification of resources and the pathway to uranium production at Copper Mountain could begin sooner than expected, especially if we opt for conventional mining, and it was important to secure this area well in advance. We have been boosted by our recent discovery and reporting of historical high grades (up to 3,850 ppm) and long (up to 291 ft) drill intervals relating to our central Canning Deposit (see our March 5, 2024 news release), which had never been publicly reported. Union Pacific was developing plans to mine Canning and several other deposits within the project area, when prices fell dramatically in the late 1970s. Rising prices raise this prospect to a new level of interest again. Now we have everything we need in terms of mineral and access rights at Canning to verify and restate the historical resources. I'd like to note that Union Pacific never drilled deeper than 183 metres anywhere at Copper Mountain and we believe that significant high grade potential could exist deeper along fault boundaries throughout the project areas. I'll be visiting Copper Mountain in a few weeks with our geologist George van der Walt to locate and examine old holes and plan our summer and fall exploration program there. I look forward to providing investors with an update after our visit."
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical resource estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical resource estimates as current mineral resources or mineral reserves.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company'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: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company 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 applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
Ascot Pours First Gold During Commissioning at the Premier Gold Project
https://ca.finance.yahoo.com/news/ascot-pours-first-gold-during-110000855.html
Ascot Resources Ltd.
Mon, April 22, 2024 at 4:00 a.m. PDT·5 min read
AOTVF
+0.19%
VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce that on April 20, 2024 the Company poured first gold as a part of the commissioning process at the Premier Gold Project (“PGP” or the “Project”), located on Nisga’a Nation Treaty Lands in the Golden Triangle of northwestern British Columbia.
Derek White, President and CEO, commented, "The first gold pour is a hallmark commissioning milestone for Ascot, representing the culmination of years of hard work. We express our gratitude to our dedicated workforce, our diligent contractors, our supportive shareholders and financiers, Nisga’a Nation, government officials, and the local communities of Stewart, BC and Hyder, Alaska – all of whom played important roles in seeing this first gold pour come to fruition.”
Commissioning of the process plant at PGP is ongoing, with commercial production anticipated in Q3 of 2024. The first gold pour was achieved from gold recovered through the gravity circuit. Commissioning of the carbon-in-leach (“CIL”) circuit is currently underway. Ascot will provide a more comprehensive update on the commissioning progress in due course.
Figure 1 – First gold pour during commissioning at PGP
Figure 1
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/415877fa-b5b9-401c-a5b6-1bf7b432695d
Qualified Person
John Kiernan, P.Eng., Chief Operating Officer of the Company is the Company’s Qualified Person (QP) as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
On behalf of the Board of Directors of Ascot Resources Ltd.
“Derek C. White”
President & CEO
For further information contact:
David Stewart, P.Eng.
VP, Corporate Development & Shareholder Communications
dstewart@ascotgold.com
778-725-1060 ext. 1024
About Ascot Resources Ltd.
Ascot is a Canadian mining company focused on commissioning its 100%-owned Premier Gold Mine, which poured first gold in April 2024 and is located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia. Concurrent with commissioning Premier towards commercial production anticipated in Q3 of 2024, the Company continues to explore its properties for additional high-grade gold mineralization. Ascot’s corporate office is in Vancouver, and its shares trade on the TSX under the ticker AOT and on the OTCQX under the ticker AOTVF. Ascot is committed to the safe and responsible operation of the Premier Gold Mine in collaboration with Nisga’a Nation and the local communities of Stewart, BC and Hyder, Alaska.
For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.ascotgold.com.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
All statements and other information contained in this press release about anticipated future events may constitute forward-looking information under Canadian securities laws ("forward-looking statements"). Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeted", "outlook", "on track" and "intend" and statements that an event or result "may", "will", "should", "could", “would” or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements in respect of advancement and development of the PGP and the timing related thereto, the completion of the PGP mine, the production of gold and management’s outlook for the remainder of 2024 and beyond. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks associated with entering into definitive agreements for the transactions described herein; fulfilling the conditions to closing of the transactions described herein, including the receipt of TSX approvals; the business of Ascot; risks related to exploration and potential development of Ascot's projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of Ascot’s properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time in Ascot's filings with Canadian securities regulators, available on Ascot's profile on SEDAR+ at www.sedarplus.ca including the Annual Information Form of the Company dated March 25, 2024 in the section entitled "Risk Factors". Forward-looking statements are based on assumptions made with regard to: the estimated costs associated with construction of the Project; the timing of the anticipated start of production at the Project; the ability to maintain throughput and production levels at the PGP mill; the tax rate applicable to the Company; future commodity prices; the grade of mineral resources and mineral reserves; the ability of the Company to convert inferred mineral resources to other categories; the ability of the Company to reduce mining dilution; the ability to reduce capital costs; and exploration plans. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Ascot can give no assurance that such expectations will prove to be correct. Ascot does not undertake any obligation to update forward-looking statements, other than as required by applicable laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Endeavour Silver Celebrates Milestone: Terronera Surpasses 50% Construction Completion
https://ca.finance.yahoo.com/news/endeavour-silver-celebrates-milestone-terronera-100000607.html
Endeavour Silver Corporation
Mon, April 22, 2024 at 3:00 a.m. PDT·2 min read
EXK
-1.92%
VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces a significant milestone in the construction of its new Terronera mine, in Jalisco state, Mexico. The project has surpassed the 50% completion mark, marking a crucial step forward in the Company's expansion efforts.
To celebrate this achievement, the Company is pleased to provide a short video offering investors an exclusive look at the new mine with insights from the executive team. This video highlights the construction progress, showcases the scale and scope of the project, and emphasizes the positive impact on both the company and the local community. Investors, stakeholders, and the public are invited to watch this milestone video here. The video was filmed in mid-March and represents construction progress at that time.
Dan Dickson, Chief Executive Officer stated, “Reaching the halfway mark in our construction schedule is a testament to the hard work and dedication of our team. With commissioning expected in Q4 2024, Terronera will bring tremendous potential to our company's future, as we grow and expand our operations through responsible practices.”
Visit www.terronera.com, our dedicated project website, to stay informed on the ongoing development at Terronera. Explore updates, learn about our commitment to environmental stewardship, and discover the positive impacts on local communities.
About Endeavour Silver: Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.
Contact Information
Galina Meleger, VP, Investor Relations
Email: gmeleger@edrsilver.com
Website: www.edrsilver.comFollow Endeavour Silver on Facebook, X, Instagram and LinkedIn
Cautionary Note Regarding Forward-Looking Statements
This news release 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. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour’s anticipated performance in 2024 including changes in mining operations and forecasts of production levels, anticipated production costs and all-in sustaining costs and the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and U.S. dollar); and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, forecasted mine economics as of 2024, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.