Aurania announces the appointment of Tony Wood as CFO & enters into a $3 Million loan agreement with chairman and CEO

Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company” – https://www.commodity-tv.net/c/search_adv/?v=298881 ) is pleased to announce the appointment of Mr. Tony Wood as Chief Financial Officer (“CFO”) and the entering into of a loan agreement with Dr. Keith Barron.

Appointment of CFO

Aurania’s Chairman and CEO, Dr. Keith Barron commented, “Tony Wood has extensive experience in the resource sector and a proven record of success in guiding mineral exploration companies through the various stages of evolution from exploration through development to production. We appreciate Tony’s hands-on management style and welcome him to the management team that is tasked with driving Aurania’s 100%-owned, Lost Cities – Cutucu Project forward for the benefit of our shareholders, our host communities, and for Ecuador.  I would like to thank Donna McLean, our outgoing CFO, for her dedication to this Company and wish her all the best in her many and varied endeavours.”

Mr. Wood has been instrumental in achieving performance and value growth across diverse commodities, countries and market conditions. Mr. Wood’s executive experience includes oversight of finance and operations, strategic planning and organizational development of various publicly-traded exploration and development companies. Over the last 20 years, he has successfully completed close to $1billion in financing and M&A transactions in the mining industry.  

Mr. Wood has been consulting for the Company on a part-time basis since January 2019. Mr. Wood is an honours graduate, Management Sciences (Marketing) B.Sc., from the University of Lancaster, U.K., and a qualified Chartered Accountant in the UK and Canada.

Loan

The Company also announces that it has entered into a agreement with Dr. Keith Barron, the Company’s Chairman and CEO, providing for a loan of up to US$3,000,000 (the "Loan").  The Loan is unsecured, has a term of two years, bears an interest rate of 2% per annum, and is not convertible into Aurania shares.  The Loan will primarily be used to foster an opportunity to advance the Company’s exploration strategy that has arisen subsequent to the recently completed rights offering.

As a result of Dr. Barron’s position as Chairman and CEO of the Company, and his considerable shareholding in the Company, the Loan from Dr. Barron is a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Loan in reliance on sections 5.5(a) and 5.7(a), respectively, of MI 61-101, as the fair market value of the Loan does not exceed 25% of the Company’s market capitalization calculated in accordance with MI 61-101. Dr. Barron declared a conflict and recused himself from voting in respect of the Loan and the remaining directors voted unanimously to approve the Loan.  The press release and subsequent material change report are being filed less than 21 days before the closing of the Loan as the Company requires the consideration it will receive in connection with the Loan immediately.

About Aurania

Aurania is a junior mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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Orsu Metals announces a maiden Inferred Mineral Resource at its Sergeevskoe Gold Project, Russia

Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company” – http://www.commodity-tv.net/c/search_adv/?v=298573) announces the results of a maiden Mineral Resource estimate for its Sergeevskoe Gold Project in Zabaikalsky Region, Russia. The Mineral Resource estimate was independently prepared by Wardell Armstrong International Ltd. ("WAI") in accordance with the guidelines of the JORC Code (2012)/CIM Definitions Standards and NI 43-101 requirements. A Technical Report covering the Mineral Resource estimate will be filed on SEDAR within 45 days of this news release.

Highlights:

  • An Inferred Mineral Resource of 25.09 million tonnes, grading 1.47 g/t gold and containing 1.19 Moz gold at a 0.5 g/t gold cut-off grade, was optimized into an open pit constrained by the license boundary at Sergeevskoe.

Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “The maiden Mineral Resource was identified by Orsu from scratch during just two years of work within approximately 900×600 m area. Orsu now has a robust understanding of the gold grade distribution at Sergeevskoe and will specifically target higher grade areas in order to improve the geostatistical parameters in the higher grade shoots and therefore the average gold grade of the system. While the gold-mineralized system is constrained by the license boundary in the east, it remains widely open westward and to the north. Furthermore, the constructed block model clearly indicates a grade increase with depth in excess of 3 g/t gold.”

Dr. Sergey V Kurzin, Executive Chairman of Orsu commented: “I would like to thank our exploration team for building a solid foundation for the Company. Given that only less than one square kilometer of Orsu’s 7.6 square kilometer property has been drilled so far, a maiden pit and license constrained resource makes an excellent start. Our recent work has generated an abundance of additional targets to be tested in 2019.”

An Inferred Mineral Resource was estimated for a large stockwork, containing 122 segments of sheeted subparallel quartz-tourmaline-sulfide veins in nine domains

The individual vein segments are separated by faults or unmineralized intervals. The most important divide is represented by the Shirotnyi Fault (Figure 1). To its south are Zone 23 West, Zone 23 Middle, Zone 23 East, Adit 5 West, and Adit 5 East domains. To the north are the Intermediate, Klyuchi West, Kozie and Peak Klyuchi domains.

From these domains, an Inferred Mineral Resource of 25.09 million tonnes, grading 1.47 g/t gold and containing 1.19 Moz gold at a 0.5 g/t gold cut-off grade, was optimized into a pit constrained by the license boundary to the east at Sergeevskoe (Table 1). Table 1 also shows sensitivity analysis of tonnage and grade within a pit constrained at different cut-off grades (“COG”) for the Sergeevskoe project, limited by the license boundary.

Table 1. Open pit Mineral Resource estimate with base case at 0.5 g/t cut off grade and sensitivity analysis of tonnage and grade at different cut-off grades for the Sergeevskoe Gold Project as at 15 April 2019.

Figures 2 and 3 show distribution of gold mineralization, constrained by the pit and the license boundary, which corresponds to the Inferred Mineral Resource estimate. Figure 3 also shows gold-mineralized blocks within a pit, unconstrained by license boundary, and beyond the pit envelopes.

GROWTH POTENTIAL

Based on the results, Orsu considers that there is a strong potential to grow the mineralization envelope at the Sergeevskoe Gold Project beyond that identified in this maiden Mineral Resource estimate. The mineralization is open both along the westward strike and downdip. In particular, there is a strong possibility to identify new mineralization at the western continuation of Klyuchi West and Intermediate domains, and only partly drill-tested mineralization in between these domains and Kozie domain. The western extension of Zone 23 remains open, with some gold mineralization recognized in historical holes and by Orsu during scout sampling at the Sergeeva prospect some 500 m west. Peak Klyuchi requires additional attention as a direct continuation of the Intermediate mineral domain. Kozie domain is also open westward, with gold mineralization intercepted in Orsu’s trench SKZTR17-11 (see Figure 1).

Of key interest for growth potential is the testing of the downdip continuation of gold mineralization in the Intermediate, Klyuchi West and Zone 23 domains, particularly due to a clear increase in gold grade (see Figures 2 and 3). The reported gold mineralization at Sergeevskoe was drill-tested to a depth of 750mRL from approximately 950-1000mRL topographic surface, whereas Klyuchevskoe gold mineralization is drill-intersected to a depth of 450-500mRL.

In addition, there are numerous occurrences of gold mineralization and geochemical/geophysical anomalies not yet tested by Orsu beyond the area of detailed works within the Company’s 7.6 square km license area of the Sergeevskoe project (see press release dated September 21, 2016).

DETAILS OF MINERAL RESOURCE ESTIMATE DATED 08 APRIL 2019

Details of Mineral Resource estimate dated 08 April 2019

The Mineral Resource estimate was prepared by WAI under the direction of Phil Newall and Andrey Tsoy. Dr Phil Newall is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). Mineral Resources for the Sergeevskoe Gold Project have been prepared in accordance with the guidelines of the JORC Code (2012) and the 2014 CIM Definition Standards by Phil Newall, an independent Qualified Person as defined by the 2014 CIM Definition Standards. WAI has approved this written disclosure of the Mineral Resource estimate.

Data verification

The Qualified Person has verified the database the Mineral Resource estimate is based on. This verification was done by personal inspection of drill core, drill sites and trenches during site visits in 2017 and 2018, and by checking database content against primary data sources and historical information.

Exploration Information

The estimate is based on 17,300 m of diamond drilling (82 drillholes) and 5,300 m of channel sampling (39 trenches), completed during Orsu’s exploration campaign between January 2017 and October 2018. Section lines for drilling are spaced approximately 80 m apart. The vertical spacing between intersections is also typically 80 m. The central part of Zone 23 and eastern part of Klyuchi West were drilled along the section lines spaced approximately 40 m apart. Historical data are completely excluded from the mineral resource estimate.

In the opinion of the Qualified Person, the core and channel samples collected by Orsu are sufficiently accurate and reliable for use in Mineral Resource estimation, and at the time of preparing this mineral resource estimate, there are no known material data quality issues related to drilling, sampling, recovery or other factors.

Intervals identified by Orsu geologists as potentially mineralized were sampled, typically on one meter lengths. The half-core samples from drill core and channel samples from trenches were assayed in the ALS and SGS Laboratories in Chita for gold and silver, as well some pathfinder elements. Standard QA/QC protocols were followed, including analysis of duplicates and standards and check analyses by ALS and SGS Laboratories in Chita, Russia and in the Stewart Assayers Laboratories in Kara-Balta, Kyrgyzstan, all independent from Orsu. The results of this QA/QC checking will be presented in the forthcoming Technical Report.

Estimation methodology and parameters

A wireframe interpretation of gold-mineralized zones was constructed in all domains at a nominal threshold of 0.5 g/t gold. Based on the limits of the current sampling coverage, the modelled domains have a variable strike length of 300 to 600 m northwest, west-east and southwest. The wireframes were interpreted downdip for up to 300 m as supported by drilling data, but Intermediate domain veins and some others were interpreted only to a depth of some 150 m. Most zones remain open downdip and along strike to the west. The gold-mineralized zones generally dip vertically to 60 degrees, both to the north and southwest, with variable true thickness of 2 to 20 m.

The mineralization is hosted in Permian granite, Jurassic granodiorite porphyry stock and magmatic breccia, intercepted by four types of dykes (diorite porphyry, felsite, hybrid porphyry, and lamprophyre). The dykes are mineralized in their entirety or at least along the selvages. However, most hybrid and all rare lamprophyre dykes are not mineralized at all, post-dating the mineralization. Orsu dated occasional molybdenite specs from the quartz-sulfide vein at the Klyuchi West domain using the rhenium-osmium technique, which corresponded to 159.3+0.7 Ma as defined by ALS Minerals laboratory in Vancouver, Canada. The best mineralized veins were identified in the hosting granite, which is more than 100 m.y. older than gold mineralization.    

The mineralization is hosted in closely-spaced and steeply-dipping linear (sheeted) quartz veins and veinlets, forming a stockwork traced to a depth of 300 m, whereas along strike the stockwork forms three major swarms at Adit 5 (in granite and along the granodiorite porphyry dykes), Zone 23 (almost exclusively in granite) and Klyuchi West-Kozie (in granite, granodiorite porphyry stock and magmatic breccia), each traced for a distance of 400 to 900 m. The three swarms merge near the eastern license boundary forming a 500-m-wide mineralized corridor (see Figure 2).

Topography was modelled based on detailed survey performed by Orsu contractors. Drill collar locations were measured with centimetre precision.

The Mineral Resource Estimate was carried out with a 3D block modelling approach using Datamine Studio 3 software. Exploration data were imported and verified before existing geological and mineralisation envelopes were re-defined creating 3D wireframes based on appropriate cut-off grades representing the various mineralised zones seen at Sergeevskoe. Sample data were selected using the geological and mineralisation wireframes and selected samples were assessed for outliers before being composited as the basis for geostatistical study. The wireframe envelopes were used as the basis for a volumetric block model based on a parent cell size of 10m x 10m x 10m. Variogram models were constructed based on composite data and used for ordinary kriging and variogram ranges for using Inverse Power Distance squared (IPD2) as the principal estimation methodology. The resultant estimated grades were validated against the input composite data and classified in accordance with the guidelines of the JORC Code (2012)/CIM Definition Standards and based on an assessment of geological and grade continuity and assay data quality. Mineral Resources were further limited based on an expectation of eventual economic extraction by being constrained within an optimised open pit shell generated using appropriate economic and technical parameters. 

For the mineralized domains and the host rocks, a variable density value was used using the formula (Density = – 0.00072 x (Au g/t)2 + 0.1363 x (Au g/t) +2.6687) for converting volumes into tonnages, which correlate with increase in specific gravity and assayed gold values as collected and measured by Orsu. A density factor of 2.65 t/m3 was applied for the oxide material based on measurements by Orsu. A density factor of 2.0 t/m3 was assumed for the poorly consolidated overburden material, averaging 2 m in thickness. All estimated tonnes are on a dry basis. 

An oxide surface was constructed 30 m below and in parallel to the topographic surface based on average visually logged depth of oxide in drill core.

The portion of the mineralization model that met the CIM definition of a Mineral Resource ("…reasonable prospects for eventual economic extraction") was established by using NPV Scheduler software to generate a pit shell to constrain reporting of the near surface resource. The input parameters for the pit shell are shown in Table 2.

All Mineral Resources were classified as Inferred, based on the intersection spacing relative to the interpreted continuity and potential complexity of the deposit. However, some portions of Mineral Resources may formally correspond to the Indicated category, which require further constraining.

The Company is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources.

Qualified Person

Alexander Yakubchuk, the Company’s Director of Exploration, Ph.D., MIMMM, a Qualified Person as defined by NI 43-101, has reviewed and approved the exploration information disclosures contained in this press release.

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.

Cautionary Statement:

This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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White Gold Corp. Commences Exploration on Vertigo Discovery and Newly Identified Targets along Vertigo Trend on JP Ross Property

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the "Company" – https://www.commodity-tv.net/c/search_adv/?v=298903 ) is pleased to announce it has commenced its $13 million fully funded 2019 exploration program on its extensive 439,000 hectare land package, representing over 40% of the prolific White Gold District in Yukon, Canada. A total of 17,000m of diamond drilling and 7,500m of Reverse Circulation (“RC”) drilling is expected this season as part of the Company’s systematic data driven exploration plan backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC).  Exploration activity has commenced on the JP Ross property focusing on expanding the footprint of the recent Vertigo discovery and other newly identified high priority targets along the 14km Vertigo Trend.

A map outlining the targets on the JP Ross property can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

Highlights Include:

  • Detailed soil sampling performed in 2018 has proven effective to highlight known mineralization on the Vertigo discovery and also identified several new targets on the Vertigo Trend and across the JP Ross property associated with regional scale structures, demonstrating the potential for multiple mineralized systems. These areas and will be followed up with the GT Probe and other work to further assess the size and intensity of the anomalies and define 2019 drill targets.
  • GT Probe sampling has commenced on the road accessible Vertigo focused on expanding the footprint of the discovery. The GT Probe will also be testing the other targets recently defined on the JP Ross property which demonstrate strong similarities to Vertigo.
  • RC drilling scheduled to commence in early May on the JP Ross property focused on expansion of the Vertigo along strike. An additional 4 to 5 target areas are expected to have RC drilling as follow up to the GT Probe program.
  • Diamond drilling is anticipated to commence in June on the Vertigo discovery. 10,000m of diamond drilling is planned on the Vertigo to evaluate geometry as well as the lateral and vertical continuity of mineralized structures discovered in 2018.

“2018 was a very successful year for White Gold, producing multiple brand-new discoveries including the Vertigo, which returned some of the most significant drill intercepts ever encountered in Yukon.” stated David D’Onofrio, Chief Executive Officer. “We are very excited to have kicked off our 2019 program deploying the GT Probe which has proven to be highly effective in defining drill targets and was instrumental in all four of our discoveries in 2018.  We are eager to follow up on the Vertigo, and test other nearby targets defined late last season through detailed soil sampling, which demonstrate similar geochemical and structural signatures to the Vertigo. We are equally as excited to continue expanding both our flagship Golden Saddle deposit and the recently acquired VG deposit, and to follow up on our other 2018 discoveries, and to test our new high priority regional targets for the first time in 2019. Our recent successes have provided us further confidence in our highly specialized exploration methodologies, and we believe this could be our most exciting program to date.”   

Vertigo Exploration

The Company has deployed the GT Probe on the new high-grade, road accessible, Vertigo discovery on its JP Ross property – one of four new gold discoveries made in 2018. The Vertigo consists of a series of W-NW trending, steeply south dipping structures identified over a 650m wide corridor that was traced over 300m through RAB/RC drilling in 2018. The overall system has been traced a further 1,700m to the west through soil sampling, prospecting and geophysical surveys. The GT Probe work will initially focus on the western extension of the Vertigo and is designed to evaluate the footprint of the system and define high priority targets for follow up RC drilling, which is expected to initiate in early May. The GT Probe is a proprietary track-mounted rig designed to take samples from the soil-bedrock interface, resulting in sampling that is both cost effective and with minimal environmental impact.

The combination of GT Probe sampling and detailed infill soil sampling led the Company to the discovery of the Vertigo in 2018. Furthermore, it highlighted the potential for previously unrecognized narrow (<10m) zones of high-grade material (>10 g/t Au) that would have been overlooked using traditional exploration methodologies.  

The Vertigo is one of the Company’s most significant discoveries from the 2018 exploration season, with drilling highlights including, Hole JPRVERRAB18-014/JPRVERRC18-013 intersecting 22.47 g/t Au over 30.46m from surface ending in mineralization; Hole JPRVERRAB18-001 intersecting 56.25 g/t Au over 3.05m within a broader intercept of 17.34 g/t Au over 10.67m from 3.05m depth; Hole JPRVERRAB18-006 intersecting 103.90 g/t Au over 1.53m within a broader intercept of 31.35 g/t Au over 6.10m from surface. Multiple high-grade grab samples were also encountered including 304.3 g/t, 156.2 g/t and 139.9 g/t among others.

New Targets on the JP Ross Property

The GT Probe will be also utilized across the JP Ross property to follow up on several high priority targets defined through detailed soil sampling in 2018. Results from the GT Probe and other specialized exploration activity completed on the targets will guide follow up RAB/RC drilling. Details regarding the initial high priority targets to be tested is outlined below:

Topaz

  • Located immediately south of the Vertigo and road accessible.
  • Consists of a series of NE and NW trending gold in soil anomalies over a 500m x 1,500m area with values ranging from trace to 284ppb Au.
  • Similar geochemical signature to the Vertigo (Au-Ag-Bi-Pb+/-As).
  • Rock samples from area returned grades up to 2.79 g/t Au.

Sabotage Trend

  • Located 7.5km northwest of the Vertigo.
  • Consists of multiple zones of anomalous Au in soils over a 1.5km x 5km NE trending area with values from trace to 1,908.3 ppb Au.
  • Detailed infill soil sampling focused on a 450m x 500m area within the Sabotage area in 2018, and returned discreet E-NE and NW trending gold in soil anomalies with values from trace to 295.3 ppb Au.
  • At least 12 other target areas along the Sabotage trend will be detail soil sampled in 2019 with follow up GT Probe and other exploration work as warranted.

Frenzy Trend

  • Located 8.5km north of the Vertigo and road accessible.
  • Consists of a series of gold in soil anomalies over a 1.5km x 3.5km N-NE trend with values ranging from trace to 1,141.6 ppb Au.
  • Detailed infill soil sampling focused on two areas along the Frenzy Trend in 2018. The first covered a 450m x 500m area near the southern end of the trend and returned both NE and NW trending gold in soil anomalies with values from trace to 623.4 ppb Au. The second was at the northern end of the trend covering a 400m x 450m area and returned a N-S trend gold in soil anomaly over the length of the grid with values from trace to 492.8 ppb Au.
  • Detailed soil sampling to be completed on at least 6 other target areas along the Frenzy Trend in 2019, with follow up GT Probe and other work as warranted.

Additional detailed soil sampling will also be conducted on multiple other target areas on the JP Ross property including Suspicion (4.5km SE of Vertigo), Stage Fright (9.5km NW of Vertigo; adjacent to Sabotage), Psycho (6km NE of Vertigo), and Xman (12km N-NE of Vertigo) with follow up GT Probe sampling, geophysical surveys, prospecting, and trenching as warranted.

About White Gold Corp.

The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 960,970 ounces Indicated at 2.43 g/t Au and 282,490 ounces Inferred at 1.70 g/t Au as set forth in the technical report entitled “Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, dated March 5, 2018, filed under the Company’s profile on SEDAR. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Goldcorp Inc. with a M&I gold resource(1) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(1) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

  • Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person

Jodie Gibson, P.Geo., Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:

David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca 

In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch

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Delrey models large geopyhsical anomalies on its Blackie, Porcher, and Star properties

DELREY METALS CORP. (CSE:DLRY, FSE:1OZ, US:DLRYF) (“Delrey” or the “Company” – https://www.commodity-tv.net/c/search_adv/?v=298860) is pleased to announce that it has completed airborne geophysics across its Porcher, Blackie and Star properties located near Prince Rupert, British Columbia. The results are very encouraging and outline sizeable magnetic anomalies on all three properties. This is highlighted by two, 3km x 2km & 2.7km x 1.8km, magnetic highs located on its wholly-owned Porcher property (Fig. 1), a 11km long northwest-southeast trending magnetic high located on its wholly-owed Star property (Fig. 2), and a 1.5km x 800m magnetic high (up to 68,000nT raw) located on its wholly-owned Blackie property (Fig. 3). A historic 2.14% V205 bedrock sample from the Blackie is believed to be coincident with the newly mapped geophysical anomaly (McDougall, 1984).1

The three surveys were completed by Ridgeline Exploration Services Inc. out of Kelowna, B.C., and were flown in a systematic low-level grid pattern at 150-m line spacing. The average terrain clearance was 75m across all surveys and a total of 1,105.55 line-km (Porcher: 472.48 line-km; Star: 457.48 line-km; Blackie: 175.59 line-km) were flown.

Based on results from the surveys the Company is pleased to announce that it has increased to size of the Porcher property from 3,122.16 to 3,525.46-hectares, and the Star property from 3,646.8 to 4,618.3-hectares to fully encompass the newly discovered magnetic anomalies. The results from the surveys will be used in helping Delrey’s technical team plan a Phase II work program which will include prospecting, mapping and rock sampling over the geophysical anomalies.

The crews are currently mobilizing to the Peneece property and it is estimated that the survey will be completed within the week with results released shortly thereafter.

“The Delrey team is quite excited by the results of the Phase I work program on the Blackie, Porcher and Star properties. High-resolution magnetics are an effective tool used for vectoring towards Fe-Ti-V bearing magnetite deposits. The large anomalies identified by the 2019 surveys combined with historic surface sampling confirming vanadium and titanium mineralization gives us confidence in the potential of these three properties. We are looking forward to returning to the properties in the coming weeks to follow up with a Phase II work program over the magnetic anomalies. This timeline will allow Delrey to conduct a Phase III work program on the properties during the summer months which may include diamond drilling over the highest priority targets developed from the Phase I and II field programs”, commented Morgan Good, Delrey’s President and Chief Executive Officer.

About Delrey

Delrey is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties, specifically in the strategic energy metals space. The Company has an option to earn a 100% interest in the Sunset property located in the Vancouver Mining Division near Pemberton, British Columbia. The Company also owns 100% of the Star, Porcher, Peneece and Blackie Fe-Ti-V properties located along tide-water in western British Columbia. Delrey will continue to review and acquire projects showing potential for materials used in the energy storage and electric vehicle markets. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “DLRY”.

Qualified person

Scott Dorion,, P.Geo., is the designated Qualified Person of the Company as defined by NI 43-101 and has reviewed and approved the technical information contained in this release.

ON BEHALF OF THE BOARD OF DIRECTORS OF DELREY METALS CORP.

“Morgan Good”

Morgan Good, President and Chief Executive Officer

1This historical results are believed to be based on reasonable assumptions, and neither the company nor its qualified person has any reason to contest the relevance and reliability of the historical samples. However, a qualified person has not done sufficient work to replicate historic rock grab samples using current lab methods. Although the historical rock grab samples are believed to be based on reasonable sampling and assay methodologies, they were calculated prior to the implementation of National Instrument 43-101. The historical results have not been verified.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, but are not limited to, general business and economic uncertainties. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.

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.

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Caledonia Mining Corporation Plc

Caledonia Mining Corporation Plc (“Caledonia” or the “Company” – https://www.commodity-tv.net/c/search_adv/?v=298787) today announces that its board of directors has declared a dividend of six and seven eighths United States cents (US$0.06875) on each of the Company’s common shares.

The relevant dates relating to the dividend are as follows:

  • Ex-dividend date: April 11, 2019
  • Record date: April 12, 2019
  • Dividend cheque mailing date: April 26, 2019

Shareholders and depositary interest holders in Canada and the UK will be paid in Canadian Dollars and Sterling respectively.  The Canadian Dollar and Sterling dividend payments will be calculated using the relevant Bank of Canada exchange rates on the record date. 

Caledonia’s Dividend Policy

Caledonia’s strategy to maximise shareholder value includes a quarterly dividend policy which the board of directors adopted in 2014. It is expected that the current dividend of twenty-seven and a half United States cents per annum, paid in equal quarterly instalments, will be maintained. 

About Caledonia Mining

Caledonia’s primary asset is a 49% interest in an operating gold mine in Zimbabwe (“Blanket Mine”).  In November 2018, Caledonia announced that it had signed a legally binding sale agreement to increase its holding in Blanket Mine to 64%, subject to receipt of, amongst other things, regulatory approvals. Caledonia’s shares are listed on the NYSE American (symbol: CMCL) and on the Toronto Stock Exchange (symbol: CAL) and depositary interests representing the shares are traded on London’s AIM (symbol: CMCL). 

As at December 31, 2018, Caledonia had cash of approximately US$11.2m.  Blanket Mine plans to increase production from 54,511 ounces of gold in 2018 to approximately 75,000 ounces in 2021 and approximately 80,000 ounces in 2022; Blanket Mine’s target production for 2019 is between 53,000 and 56,000 ounces. Caledonia expects to publish its results for the quarter to March 31, 2019 on or around May 14, 2019.

For further information please contact:

Caledonia Mining Corporation Plc
Mark Learmonth Tel: +44 1534 679 802
Maurice Mason Tel: +44 759 078 1139

WH Ireland
Adrian Hadden/Jessica Cave/James Sinclair-Ford Tel: +44 20 7220 1751

Blytheweigh
Tim Blythe/Camilla Horsfall/Megan Ray Tel: +44 207 138 3204

Cautionary Note Concerning Forward-Looking Information

Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of applicable securities legislation that involve risks and uncertainties relating, but not limited to Caledonia’s current expectations, intentions, plans, and beliefs.  Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “target”, “intend”, “estimate”, “could”, “should”, “may” and “will” or the negative of these terms or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Examples of forward-looking information in this news release include: production guidance, estimates of future/targeted production rates, our plans and timing regarding further exploration and drilling and development.  This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.  Such factors and assumptions include, but are not limited to: failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, success of future exploration and drilling programs, reliability of drilling, sampling and assay data, assumptions regarding the representativeness of mineralization being inaccurate, success of planned metallurgical test-work, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices and delays in the development of projects.

Security holders, potential security holders and other prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements.  Such factors include, but are not limited to: risks relating to estimates of mineral reserves and mineral resources proving to be inaccurate, fluctuations in gold price, risks and hazards associated with the business of mineral exploration, development and mining, risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards, employee relations; relationships with and claims by local communities and indigenous populations; political risk; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining or maintaining necessary licenses and permits, diminishing quantities or grades of mineral reserves as mining occurs; global financial condition, the actual results of current exploration activities, changes to conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors, risks of increased capital and operating costs, environmental, safety or regulatory risks, expropriation, the Company’s title to properties including ownership thereof, increased competition in the mining industry for properties, equipment, qualified personnel and their costs and risks relating to the uncertainty of timing of events including targeted production rate increase.  Security holders, potential security holders and other prospective investors are cautioned not to place undue reliance on forward-looking information.  By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur.  Caledonia undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

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Wicheeda Deposit 30 Tonne Bulk Sample Returns 4.81% Light Rare Earth Oxide Head Grade

Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce that SGS Canada Inc. (“SGS”) has provided initial composite head assay results for the 30 tonne bulk sample collected from its Wicheeda Property.

Select head assay results for the 30 tonne bulk sample include 1.77% lanthanum-oxide, 2.34% cerium-oxide, 0.52% neodymium-oxide, and 0.18% praseodymium-oxide which the Company considers significant, for a total of 4.81% LREO (light rare-earth oxide) (see Figure 1 below).

The results confirm, in conjunction with previous metallurgical head grades returned from smaller drill core samples, the presence of significant praseodymium values.  Praseodymium values are only available for 4 of the 14 previous diamond drill holes that define the Wicheeda deposit. The Company considers the results to significant to the advancement of the Wicheeda Property given recent indicative LREE oxide prices and their potential impact on Wicheeda, which has been historically viewed as a cerium-lanthanum-neodymium deposit (see Table 1 below).

Max Sali, CEO and Director of Defense Metals commented “We look forward to building on these positive initial results, which will form the basis from which to gauge the success of subsequent test phases including bench-scale flotation optimization and hydrometallurgical testing, which are preparatory to initiation of larger scale pilot plant testing on the full 30 tonne sample.”

The Company is confident that completion of laboratory and pilot plant metallurgical test programs on the bulk sample will significantly advance the understanding and development of the Wicheeda rare earth element deposit through larger scale pilot plant scale validation of process metallurgy, generation of design quality data for engineering, and the production of REE product samples for potential offtake partners.

Important Rare Earth Element Industrial and Technology Uses

Neodymium/ praseodymium is used to create high-power Neodymium-iron-boron (NdFeB) magnets. These magnets are a key technology in the Defense, Clean Energy, Consumer Electronics and Electric Vehicle sectors.

Common uses of neodymium-iron-boron (NdFeB) magnets include computer hard disk drives, wind turbine generators, speakers/headphones, MRI scanners, cordless tool motors, motors in hybrid and electric vehicles, in addition to aerospace and military applications.

Neodymium is among a mix of rare earth elements found in the nickel metal hydride (NiMH) batteries of a range of plug-in electric and hybrid vehicles, including GM’s EV1, Honda EV Plus, the Ford Ranger EV and the Toyota Prius.

The anode of a NiMH cell is most commonly a mix of lanthanum, cerium, neodymium and praseodymium.

The only significant non-Chinese REE supplier is Australia’s Lynas Corp., which processes its REEs in Malaysia. North America has one mine, which ships its rare earths to China for processing.

About SGS Canada Inc.

By incorporating an integrated approach, SGS delivers testing and expertise throughout the entire mining life cycle. With a network of over 450 commercial, multi-purpose and on-site laboratories globally, SGS is uniquely positioned to provide fit-for-purpose solutions and testing capabilities from early exploration to end-product certification and closure to the mining industry.  SGS’ services encompass the skills of qualified geologists and mining professionals to provide accurate and timely mineral evaluation and consulting services in a wide range of commodities including precious and base metals, rare earth element minerals, uranium and naturally occurring radioactive material, industrial minerals, iron ore and hydrocarbons.

About The Wicheeda Property

The Wicheeda Property located approximately 80 km northwest of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is close to major infrastructure including nearby working power transmission lines, railway and major highways. Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature.  The Foreland belt contains part of a large alkaline igneous province stretching from the Canadian Cordillera to the southwestern United States and hosts several carbonatite and alkaline complexes among which are the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) alkaline complexes that contain the highest concentrations of Rare Earth Elements minerals.

The Wicheeda Property is underlain by Kechika Group metasedimentary rocks that are intruded by a southeast-trending carbonatite. The Wicheeda carbonatite is a deformed plug or sill approximately 250 metres in diameter that hosts significant REE mineralization. The intrusion comprises a ferroan dolomite carbonatite core, which passes gradationally outward into calcite carbonatite. The REE mineralization is hosted by the dolomite carbonatite.

Methodology and QA/QC

The 30 tonne Wicheeda deposit bulk sample was trucked to SGS’ Lakefield, ON facility.  Upon receipt at SGS the sample was inventoried (i.e. bag counts and gross weights), then placed in a containment area on a clean concrete pad. The entire sample was jaw crushed to nominal 1 inch, and homogenized/blended via backhoe. A 400 kg sample representative sample was then selected and further homogenized by tumbling and crushed to ½ inch. Half of the 400 kg sample was retained for future testing. The primary 200 kg sample was then crushed to 6 mesh (3.36 mm), homogenized and split into 10 kg charges.  Two of the 10 kg charges were combined and split into 2 kg charges, from one of which 150 g was pulverized to 80% passing 75 micron. Major element, and lanthanum and neodymium oxides, and loss on ignition (LOI) were determined by whole rock analysis, via lithium-borate fusion of a 0.5 gram sample analyzed via wavelength dispersion X-ray fluorescence (WD-XRF). The remaining rare earth elements were determined via 0.5 gram sodium-peroxide fusion multi-element ICP-MS.

The SGS analysis included a quality assurance / quality control (QA/QC) program including the insertion of rare earth element standard and blank samples. Defense Metals detected no significant QA/QC issues during review of the data. SGS Minerals Lakefield is an ISO/IEC 17025 and ISO9001:2015 accredited. SGS is independent of Defense Metals Corp.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSX Venture Exchange. The Company owns (i) a 100% interest in prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property located approximately 215 km northeast of Val d’Or, Quebec.

Contact Information – For more information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s plans for its properties/projects, plans for bench-scale flotation optimization and hydrometallurgical testing, which are preparatory to initiation of larger scale pilot plant testing on the full 30 tonne sample, other statements relating to the technical, financial and business prospects of the Company, and other matters.

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, copper, uranium, rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous;  (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

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M2 Cobalt launches up to 6,000 metres of Additional drilling as Company and Jervois begin combining resources

M2 Cobalt Corp. (the “Company”) (TSXV: MC.V) (OTCQB: MCCBF) (Frankfurt: AOK – https://www.commodity-tv.net/c/search_adv/?v=298831) is pleased to announce the launch of its 2019 work program, including up to 6,000 metres of drilling. This program is a continuation and expansion of the Company’s initial drill program launched last Fall and includes both diamond and reverse circulation (“RC”) drilling. The Company also plans to launch additional ground geophysics (magnetics and Induced Polarization (“IP”)) and rock grab and soil sampling within existing and recently acquired exploration licenses (see press release dated October 17, 2018).

Merger with Jervois

The Company also announces that the merger process with Jervois Mining Limited (“Jervois”), announced on January 22, 2019 (the “Merger”), is progressing well with the Company having now received voting and support agreements to support the Merger from shareholders representing approx. 50.3% of the issued share capital of the Company. It is currently anticipated that the formal shareholder vote to approve the Merger will be held in early-mid May 2019.

Working Capital Facility

As part of the Merger process, the Company has now satisfied all outstanding conditions for the draw-down of the US$3 million working capital facility from Jervois (“the Working Capital Facility”), announced on January 22, 2019. The Company will utilize funds from this facility to fund the continuation and expansion of its initial drill program and the next phase of exploration.

Initial Drilling

As announced in October 2018, the initial drill program was launched to test key targets at depth in each of the 3 styles of mineralization discovered during the Company’s phase 1 work programs and to position the Company for larger resource focused drill programs.

As announced on January 10, 2018, the Company completed 2,027 metres of diamond drilling before the Christmas break in mid-December 2018. Most of this drilling (1056 metres; 7 drill holes) occurred at high priority targets at its Kilembe-area properties.  In addition, the Company drilled 4 holes (839 metres) at its Bombo NW and Bombo targets (Bujagali). In relation to its Waragi Target, also at Bujagali, due to difficulties encountered with the drill rig and timing of the Christmas break, it was only possible to collar 4 very shallow exploration holes at one location, totaling 131m.

The assay results from the drilling completed before Christmas have now been received. The results have provided important technical data and included a number of positive indicators, including sulphide mineralization at the targets tested in the Kilembe area as well as at the Bombo targets. The results also confirmed the presence of ultramafic bodies at Bombo. However, as yet no material intersections have been encountered.

Additional drilling / next phase of exploration

With the funds available under the Working Capital Facility, the Company will now complete and expand its initial drill program in and around its Waragi and Nile targets with up to 3,000 metres of drilling (diamond and RC) planned to systematically test the large regional cobalt /copper geochemical anomaly discovered across its Buajagli licenses during 2018.  It will also launch ground geophysics and geochemistry across the adjoining exploration license it acquired at Bujagali in October 2018.

Further, based on assay results and the large size of the geochemical and geophysical anomalies at Bombo, the Company will launch additional Induced Polarization geophysics (“IP”) to help focus drill collars for up to a further 3,000 metres of drilling. This program will systematically test the series of ultramafic bodies across the property for base metal mineralization.

In relation to its Kilembe-area properties, the initial drill program validated the Company’s use of VTEM in this geological setting. In addition, the presence of sphalerite, galena (zinc and lead sulphides) and chalcopyrite in the core taken from the 7 drill holes also confirms the potential to discover additional VMS deposits along strike of the historic Kilembe mine.  The Company will shortly launch ground sampling and geochemistry on the 3 Kilembe-area licenses acquired in October 2018 and its current intention is to implement a broader phase of exploration across all of its Kilembe-area Licenses later in 2019.

Simon Clarke, CEO stated, “We are pleased to be able to complete and expand our initial drill program and to launch our next phase of exploration. We have a very large asset base with numerous large-scale targets and significant potential for new discoveries. The ability to leverage what we have learned to date into this expanded phase of drilling strengthens our position significantly. We are also extremely pleased to be able to add the technical and financial resources of Jervois as we move through the merger process and combine operations.”

Quality Assurance

All rock and soil samples were sent to ALS Chemex South Africa (Pty) Ltd., an independent and fully accredited laboratory in South Africa for analysis for gold multi-element Induction Coupled Plasma Spectroscopy.  M2 Cobalt also has a regimented Quality Assurance, Quality Control program where at least 10% duplicates and blanks are inserted into each sample shipment.

About M2Cobalt

M2 Cobalt Corp. is focused on discovering and developing world-class cobalt assets (and related minerals) to help address the growing deficit in the supply of cobalt. The Company has a large, highly prospective land package in the Republic of Uganda, East Africa bordering historic production and on the same mineral trends as some of the major mines in the neighbouring DRC where over 60% of world cobalt supply originates. Uganda is a stable country with a growing economy looking to re-energize its historic mining industry. The Company has a highly experienced management team and board of directors, which has been involved in funding and advancing resource projects globally. Further information on the Company and its projects can be found at www.m2cobalt.com

The technical content of this news release has been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to exploration work to be undertaken in Uganda, the reliability of third party information, and certain other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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White Gold Corp. Announces Fully Funded $13M Exploration Program Focused on Vertigo Discovery, Further Increasing Golden Saddle and VG Gold Resources and New Gold Discoveries

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the "Company" – https://www.commodity-tv.net/c/search_adv/?v=298903) is pleased to announce its fully funded 2019 exploration program on its extensive 439,000 hectare land package, representing over 40% of the prolific White Gold District in Yukon, Canada.

The 2019 exploration program, budgeted at approximately $13M, has been designed to follow up on the Company’s new high grade Vertigo discovery on its JP Ross property (the “JP Ross Program”), expand the Golden Saddle and Arc resources with diamond drilling on the GS West discovery and other nearby targets (the “White Gold Program”), increase the recently acquired 230,000 oz VG resource (4.4 million tonnes grading 1.65 g/t gold Inferred resource at a cut-off of 0.5 g/t gold) on its QV property, as well as to identify and test high priority regional targets (the “Regional Program”). Backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) the 2019 exploration program is planned to commence in the coming weeks.

A map outlining the Company’s 2019 work program can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

Shawn Ryan, Chief Technical Advisor stated, “2019 will be one of the most exciting seasons for White Gold and has the potential to be a transformative year for us. Our systematic regional exploration approach is working exceptionally well and resulted in four new discoveries last year (the Vertigo, GS West, Ryan’s Surprise and Betty Ford). This year’s program will also feature diamond drilling on the Vertigo discovery to expand this new unique style of high-grade gold mineralization. Concurrently, the regional program on the JP Ross Property will follow up on multiple other highly anomalous gold targets near the Henderson Creek drainage system where placer gold mining has been taking place since the turn of the century, and will continue to utilize detailed soil sampling, GT probe and RAB drilling to hone in on high-probability targets, which we anticipate will lead to more new discoveries. The Golden Saddle deposit will be moved along with more diamond drilling on the GS West and Ryan’s Surprise discoveries. The recently acquired VG deposit will undergo drilling to expand the known resources and we will be applying our proprietary regional exploration program to advance some of our other priority targets.  All and all this should be our best season yet.”

Highlights Include:

  • Vertigo Target: 10,000m diamond drill program designed to evaluate geometry as well as the lateral and vertical continuity of mineralized structures discovered in 2018. Additional reverse circulation (“RC”) drilling to evaluate strike potential of mineralization based on field mapping, geochemistry and geophysics.
  • JP Ross regional activity to include evaluation and initial drill testing of 4 to 5 additional target areas on 14km trend.
  • Golden Saddle deposit to be expanded with 4,500m of diamond drilling conducted on GS West discovery, with 1,500m of infill and step-out drilling on Arc deposit.
  • Regional activity on the White Gold property to include evaluation and initial testing of 3 to 4 additional regional targets with RC/RAB drilling.
  • Regional exploration activities on other properties to include over 15,000 soil samples, 1,000 GT probe samples, geologic mapping and prospecting, IP-Resistivity, LiDAR and other baseline exploration work for the continued identification and building of targets.
  • Initial work including GT Probe sampling set to commence in April 2019 with diamond drilling anticipated to commence in May 2019.

The JP Ross Program

Exploration on the Vertigo discovery is expected to include over 7,500m in diamond drilling across the entire currently defined 2km Vertigo trend to define the geology, geometry and continuity of the system, with an additional 2,500m for follow up drilling on key zones identified within the system to test plunge lines and alternative geometries. An RC drill will also be used to test the continuity of mineralization along strike to build additional targets for future diamond drilling.

Additional exploration is expected to be conducted along the 14km Vertigo Trend and JP Ross property at large, with the focus of this work to build up several additional target areas through soils, GT Probe, geophysics, other exploration activities and first pass RAB/RC drill testing as warranted.

Initial work including GT Probe sampling is set to commence in April with diamond drilling anticipated to commence in mid-to-late May, with a full camp to be built on site to support the program.

The Vertigo target is a new, road accessible, discovery on the JP Ross property which is comprised of 2,850 quartz claims covering over 57,000 hectares with at least 14 known target areas and numerous placer gold bearing creeks  

To date, at least 12 mineralized structures are recognized on the Vertigo target over a 1500m x 650m area, and consist of W-NW trending, steeply dipping zones of quartz veining, brecciation, and fracture-controlled mineralization with disseminated to vein-controlled pyrite-arsenopyrite-galena and, locally, visible gold mineralization.

Highlights from 2018 include, Hole JPRVERRAB18-014 intersecting 23.44 g/t Au over 24.38m from surface ending in mineralization; Hole JPRVERRAB18-001 intersecting 56.25 g/t Au over 3.05m within a broader intercept of 17.34 g/t Au over 10.67mfrom 3.05m depth; Hole JPRVERRAB18-011 intersecting 45.00 g/t Au over 3.05m from 1.52m depth, within a broader intercept of 9.65 g/t Au over 15.2m and surface grab samples of 139.9 g/t, 134.6 g/t and 132.9 g/t over a 685m strike length.

The White Gold Program

Exploration activities on the White Gold property are planned to include over 6,000m in diamond and an expected 25 holes of RC/RAB drilling, with diamond drilling focusing on the GS West discovery area with minor infill and step-out drilling on the Arc deposit based on updated geological modelling, while RC/RAB drilling will test high priority targets on the White Gold for potential future diamond drilling. Other exploration activities will include LiDAR, GT Probe, soil sampling, geophysics and geologic mapping, all conducted to evaluate and define additional drill targets on the property.

Reopening of the Thistle camp is currently underway with drilling activities anticipated to commence by mid-May.  

The White Gold property has a current mineral resource of 960,970 ounces Indicated at 2.43 g/t Au and 262,220 ounces Inferred at 1.70 g/t Au, with mineralization on both the Golden Saddle and Arc known to extend beyond the limits of the current resource estimate and believed to remain open in multiple directions.

Golden Saddle highlights from 2018 include, Hole WHTGS18D0175 intersecting 4.6 g/t Au over 44.9m from 218m depth, including 8.57 g/t Au over 17m from 223m depth and Hole WHTGS18D0193 intersecting 3.95 g/t Au over 68m from 210m depth, including 5.42 g/t Au over 47.3m.

The GS West discovery is a shallow mineralized zone open at depth and along strike, located 750m to the west of the Golden Saddle deposit along the structural trend.  All three holes drilled in 2018 hit Golden Saddle style alteration and mineralization with the most significant results from WHTGS18D0184 returning 1.92 g/t Au over 24m from 117m depth, including 2.97 g/t Au over 10m from 118m depth, and 8.12 g/t Au over 1.95m from 121.05m depth.  

The Regional Program

The 2019 Regional Program will focus on high priority targets that have been identified in the 2018 and prior seasons, and will include over 1,000 GT Probe samples and 15,000 soil samples. Additional exploration activity to prepare and better understand the Company’s other targets will include airborne magnetic surveys, LiDAR surveys, drone surveys, IP-Resistivity surveys, geologic mapping and prospecting. The regional exploration will be conducted across multiple of the Company’s properties.

QV Property – VG Zone

Included in the Company’s Regional Program is 1,000m of diamond drilling focused on testing strike extensions of the historically underexplored VG resource located on the QV property, recently acquired from Comstock Metals.

Large portions of the property remain unexplored, which leaves a strong potential for the discovery of additional zones of structurally-controlled and/or intrusion-related mineralization, with several currently unexplored known targets with similar characteristics to the Golden Saddle and Vertigo.  Approximately 4,300m of diamond drilling over 23 holes has been conducted on the VG to date. Of these, only 17 diamond drill holes formed the basis of a 2014 maiden resource estimate(1) of 230,000 oz of gold (4.4 million tonnes grading 1.65 g/t Au) in the Inferred category at a cut-off of 0.5 g/t Au.

The VG resource is open along strike and at depth, and has similar mineralization and structural control to the nearby Golden Saddle deposit. The QV property is 16,335 hectares (40,000 acres) and contiguous to the Company’s White Gold property which hosts its Golden Saddle and Arc deposits, 20 km southwest of the Vertigo discovery on its JP Ross property and 44 km northwest of Goldcorp Inc.’s (TSX: G, NYSE: GG) Coffee project. The resource and property were acquired by White Gold Corp from Comstock Metals in early 2019. 

For further details regarding the acquisition of the VG resource and QV property, please refer to the press release of the Company dated March 1, 2019 available on SEDAR at www.sedar.com.

  • See Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR

Regional Exploration Program activities are anticipated to include exploration activity on the following targets:

Betty Property

The Betty property covers the eastern extension of the Coffee Creek fault, which hosts the Coffee deposit owned by Goldcorp Inc., and hosts a 12km trend of anomalous gold in soils (trace to 7,288 ppb Au); intrusion-related and structurally controlled styles of mineralization. Highlights of drilling completed at the Betty Ford target include Hole BETFRDRAB18-002 returning 1.08 g/t Au over 50.29m from 4.57m depth, including 2.24 g/t Au over 9.41m from 19.81m depth with the top 25.91m of the hole showing oxidized mineralization and additional shallow mineralization encountered in other holes along trend. Highlights at the Betty White target included gold mineralization intersected in every hole, with individual results ranging from trace to 3.61 g/t Au. Gold mineralization encountered across multiple target areas highlights the large-scale potential of the mineralized system, with additional targets remaining undrilled.

Black Hills Property

Road accessible property located adjacent to the JP Ross Property on the east. There exist numerous untested gold in soil anomalies that are coincident with the regional-scale structures that cut through the property, with soil assays ranging from trace to 1,594 ppb Au.

Dime Property

Located 70km to the south-west of Dawson City, YT, with the claims bordering numerous historic mineral occurrences and placer gold bearing creeks. At least 3 untested gold in soil anomalies are known (Dime West, Dime Central, & Polaris) on the property that warrant follow up work; with soil values ranging from trace to 6,082 ppb Au. The targets are associated with a regional scale structure and the overall geologic setting and geochemistry of the area is very similar to the Vertigo discovery, located 40km to the SE.

Nolan Property

Located 50km west of Dawson City, YT with claims covering multiple placer gold bearing creeks. Numerous gold in soil anomalies on the southern end of the property that have yet to be investigated; with soil values ranging from trace to 968 ppb Au. This includes the Hart Mt. area, which contains two robust targets, including Hart South a 2,000m by 400m trend with soil values ranging up to 539 ppb Au, as well as Hart East which measures 2,500m by 900m and yielded values ranging up to 399 ppb Au. Additionally, prospecting in the Hart area returned grab samples of epithermal-style quartz veins that returned from trace to 0.172 g/t Au, trace to 1,467 g/t Ag, and trace to 10.63% Pb.

About White Gold Corp.

The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 960,970 ounces Indicated at 2.43 g/t Au and 282,490 ounces Inferred at 1.70 g/t Au as set forth in the technical report entitled “Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, dated March 5, 2018, filed under the Company’s profile on SEDAR. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Goldcorp Inc. with a M&I gold resource(2) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(2) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

  • Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person

Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties;; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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U.S. Gold Corp. Completes Additional District-wide Geochemical Surveys on the Keystone Project, Cortez Gold Trend, Nevada

Comprehensive surface geochemical surveys, combined with previous and additional geophysics, and scout drilling, identifies several new target opportunities and provides additional definition on previously identified target opportunities.

U.S. Gold Corp. (NASDAQ: USAU – https://www.commodity-tv.net/c/search_adv/?v=298829 ), a gold exploration and development company, today is pleased to announce the completion and compilation of additional district-wide geochemical surveys on the Keystone project.  Commensurate detailed geological mapping has also been completed with potentially significant new Carlin-type deposit target characteristic implications. The geochemical data, combined with earlier gravity and other geophysical survey assessments, and scout drilling programs to date, have provided the necessary information to identify, and zero in on, site-specific discovery opportunities in 2019.  Several of these target opportunities were logistically inaccessible to drilling in 2018 because of the late 2018 EA/POO (Plan of Operations) permitting approval and declining weather-related access for drilling.

Highlights of these geochemical surveys include:

U.S. Gold Corp. has significantly added to the blanket geochemical sample surveys covering the 20-square-mile Keystone district project area.  The sample database now comprises 7372 soil samples, 3,414 rock samples, 666 fine-sediment stream samples, and 661 altered stream cobble samples.

The primary designed purpose of the multifaceted 2018 geochemical surveys was to follow-up on existing anomalies and provide more definition to prior geochemical surveys in order to identify and define site-specific gold targets to be drill tested in 2019.

The highly anomalous geochemical levels and widespread distribution of metals being sought, in particular gold, along with associated pathfinder metals, clearly demonstrate the presence of a very large, robust gold-bearing, district-wide, multi-metallic hydrothermal system at Keystone. 

All age/gold system timing data indicate that the Keystone hydrothermal system is early Tertiary in origin and similar to those that host the major Carlin-type gold deposits in Nevada.  Specifically, age dating of illite alteration of andesite dikes and sills associated with collapse breccias at Keystone (Gabriel Aliaga, 2018 University of NV Master’s Thesis), has provided dates of 35.71 +/- 0.12Ma and 35.54 +/- 0.06Ma which are very comparable in age to mineralization related age dates of 35.70 +/- 0.14Ma to 35.31 +/-0.37Ma from the Cortez Hills gold deposit to the northwest of Keystone (ref. Arbonies, DG, Creel, KD, and Jackson, ML, 2010, Geol. Soc. of NV Symp. Vol., p.457).

Up to this point, most Keystone project drilling was considered to be “scout drilling” conducted to obtain: 1) critical information related to host rock characteristics, 2) locations of specific host horizons within the approximately 3000-foot-thick prospective host rock package, and 3) Carlin gold deposit-type characteristics and also to provide broad important gold system information.  Scout drilling results have indicated the size extent of the gold system and overall metal distribution is much larger than originally conceived.

Late 2016 through most of 2018 drilling was limited to access permitted through five individual 5-acre NOIs (Notices of Intent). This areal disturbance limitation disallowed access to many of the targets that evolved through ongoing target synthetizations obtained from merging of all the various data sets.  Despite this limitation of prior drill access, considerable advancements in exploration understandings have resulted from the initial, rather wide-spaced scout hole drilling programs conducted to date.

The current geochemical data can be accessed and viewed through the following link: http://usgoldcorp.gold/keystone-geochem-march-2019.pdf    

Sixteen individual district-wide maps are provided; these maps individually exhibit the eight elements of Gold, Silver, Arsenic, Antimony, Mercury, Copper, Molybdenum and Zinc.  The fine-sediment stream and soil sample data are combined on one map, and the altered cobble and rock samples on the other for each element. Prior to all the new soil and fine-sediment stream sampling, detailed orientation surveys were conducted for the purpose of determining an optimal representative-size fraction in order to mitigate the influence of evident wind-blown material dilution.    

Bureau Veritas Minerals (BV Labs) in Reno, Nevada) was utilized for the analyses of all new data. Historic soil and rock data were carefully vetted, and mostly accepted and incorporated into the maps. 

Dave Mathewson, Vice President of Exploration for U.S. Gold Corp., states, "The geochemical data we have accumulated at Keystone demonstrate that we are potentially dealing with a very large, and complex, Carlin deposit-type system.  The overall geological and geochemical levels and lateral surface metal expressions, including gold are very comparable to most other large Carlin deposit-type gold systems known in Nevada.  At this time, we are at an important and pivotal stage in the Keystone exploration program.  We are now better able to locate and qualify site-specific, drill-hole target opportunities within the heretofore rather broad target areas that we have previously identified.  With the district-wide EA/POO in place as of late 2018, we can now effectively drill anywhere in the Keystone district.”

“To date we have encountered Carlin deposit-type alteration and geochemical expressions, with local economic levels of gold in many of the holes we have drilled, but we continue to seek the all-important high-grade gold zones and thicknesses that comprise potential economic deposits within this broad Carlin- type gold system. The central and high-grade portions of Carlin-type gold deposits tend to be rather laterally small, steeply dipping, and tightly confined, proximal to feeder structures.  We realized early that we were working on a large, robust Carlin-type gold system, but we did not have all the property area that we now have, and in addition, there were very large voids in much of the historic data that we began with.  All the drilling to date, however, has provided encouraging results. The excellent host characteristics of upper-plate Cambrian Comus Formation, the Devonian Horse Canyon and Wenban carbonate, and the lower Devonian and Silurian Roberts Mountains limestone Formations at Keystone, are now well-established.  Large bodies of dissolution-related collapse breccias with associated and hydrothermal styles of alteration, including silicification, argillization, and sulfidation; multiple types and styles of system-related dikes and sills; and local, very strong pathfinder elements, including the presence of locally abundant arsenopyrite, realgar, and orpiment, and many pathfinder metals have been encountered in the scout drilling.  Our 2019 exploration drilling program will commence with concerted, iterative site-specific drilling as soon as access conditions allow.” 

Edward Karr, President and CEO of U.S. Gold Corp., stated, "We are very encouraged with the Keystone exploration results to date. Exploration is an ongoing process, and our entire technical team has been involved in a highly systematic approach. This is the first time in the history of the Keystone district that one company has controlled such a large land position and applied a methodical, data-driven exploration process.  We plan to keep the market informed on our 2019 exploration plans as specific drill targets emerge.”

About U.S. Gold Corp.

U.S. Gold Corp. is a publicly traded U.S.-focused gold exploration and development company. U.S. Gold Corp. has a portfolio of development and exploration properties. Copper King is located in Southeast Wyoming and has a Preliminary Economic Assessment (PEA) technical report, which was completed by Mine Development Associates. Keystone is an exploration property on the Cortez Trend in Nevada. For more information about U.S. Gold Corp., please visit www.usgoldcorp.gold.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks arising from the accuracy of the compilation of the district-wide geochemical surveys on the Keystone project, expectations for a Carlin-type gold deposit, plans for further exploration, whether or not U.S. Gold Corp. will be able to raise capital to complete planned exploration programs; prevailing market conditions; and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov. We make no representation or warranty that the information contained herein is complete and accurate, and we have no duty to correct or update any information contained herein.

INVESTOR CONTACT:
U.S. Gold Corp. Investor Relations:
+1-800-557-4550
ir@usgoldcorp.gold
www.usgoldcorp.gold

In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch

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GOLDMINING announces resource estimate for the Yellowknife Gold Project, Northwest Territories, Canada

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Highlights:

  • Updated mineral resource for the Yellowknife Project includes a measured and indicated resource of 1,059,000 ounces grading 2.33 g/t gold and an inferred resource of 739,000 ounces grading 2.47 g/t gold (Table 1);
  • This resource estimate increases GoldMining’s aggregated measured and indicated resource to 10,530,000 ounces gold (13,429,000 ounces gold equivalent) and aggregated inferred resource to 12,444,000 ounces gold (14,896,000 ounces gold equivalent) resulting in a 13% increase in the measured and indicated categories and an 11% increase in the inferred category across all of its Projects (Table 2);
  • Extensive historic exploration work completed on the Project including diamond drilling (231,600 m in 1,061 holes), underground development (2,399 m), bulk sampling (10,200 t) and positive metallurgical studies;
  • Project is accessible by permitted winter road extending 95 km north from Yellowknife with nearby infrastructure including hydro-electric power, air transportation, service providers and skilled workforce; and
  • Located in the mining-friendly jurisdiction of the Northwest Territories, home to major mines operated by DeBeers, Rio Tinto, and The Washington Companies.

GoldMining Inc. (the "Company" or "GoldMining" – http://www.commodity-tv.net/c/search_adv/?v=298220) (TSX: GOLD; OTCQX: GLDLF) is pleased to announce an updated mineral resource estimate for its 100% owned Yellowknife Gold Project (the "Yellowknife Project" or the "Project"), Northwest Territories, Canada.  The mineral resource estimate was prepared by SRK Consulting (U.S.), Inc. ("SRK") and includes a measured and indicated resource of 14,108,000 tonnes grading 2.33 g/t gold (1,059,000 ounces) and an inferred resource of 9,302,000 tonnes grading 2.47 g/t gold (739,000 ounces) using a variable cut-off of 0.5 and 1.5 g/t gold for pit constrained and underground resources, respectively. 

This resource estimate updates the previously disclosed historic estimate completed by the previous owner of the Project, and importantly represents an 18% increase in the measured and indicated resource grade versus the historic estimate.  Since its acquisition of the Project, GoldMining has identified numerous areas for exploration, as well as additional targets for follow-up within its large land package.

Commenting on today’s news release, Garnet Dawson, CEO of GoldMining commented, "The Yellowknife Gold Project is located in the underexplored Yellowknife Greenstone Belt, host to historic gold mines including the Con and Giant Mines located adjacent to the city of Yellowknife and the Discovery Mine, located on GoldMining’s property.  Since acquiring the Project, the Company has focused on compiling the large historic database, updating the historic resource estimate and applying for new Land Use Permits and Water Licence necessary for future exploration programs.  With the updated resource estimate announced today and the necessary government approvals expected in the next few months, the Project is well positioned to advance to the next stage of economic study."

The Yellowknife Project includes five gold deposits with resource estimates, being Nicholas Lake, Bruce, Ormsby, Goodwin Lake and Clan Lake, which are located 50 to 95 km north of the city of Yellowknife.  Adjacent to the Ormsby deposit, a 50-person winterized camp is accessible by winter road or by air via a 1,000-metre-long gravel airstrip from Yellowknife.

Gold mineralization at Nicholas Lake is hosted in a sub-vertical shear zone that strikes east-west across a granodiorite body or within meta-sedimentary rocks in close proximity of the granodiorite.  The shear zone contains quartz-sulphide veins with associated gold mineralization within a zone of silica and sericite altered granodiorite.  The zone measures approximately 125 m wide, has a strike length of 225 m and is open at the current explored depth of 450 m below surface.  The deposit is defined by 27,590 m of surface and underground diamond drilling in 141 holes and 820 m of underground development.

The Bruce and Ormsby deposits are hosted in a sub-vertical, northeast striking shear zone along the eastern margin of amphibolite near the contact with adjacent meta-sedimentary rocks.  Quartz-sulphide veins and associated gold mineralization have several orientations typically striking AZ320º to AZ340º and dipping 10º to 50º to the southwest.  The Ormsby deposit varies from 75 to 150 m in width, has a strike length of 1,000 metres and is open at the current explored depth of 550 m.  The deposits are defined by 157,570 m of surface and underground diamond drilling in 707 holes and 1,579 m of underground development.

Goodwin Lake deposit is hosted in a sub-vertical, northeast striking shear zone that cuts gabbroic rocks.  Similar to the Bruce and Ormsby deposits, quartz-sulphide veins and associated gold mineralization within the shear zone have several orientations with more prominent vein sets striking northeast and dipping steeply parallel to the shear zone and a shallow dipping, cross-cutting vein set that strikes northwest.  The deposit varies from 25 to 75 m in width, has a strike length of 350 m and has been intersected in drill holes to a depth of 200 m, where the deposit remains open.  The Goodwin Lake deposit is defined by 5,930 m of surface diamond drilling in 28 holes.

Clan Lake deposit is hosted in a sub-vertical, northwest striking shear zone that cuts felsic to mafic meta-volcanic rocks.  Quartz-sulphide veins with associated gold mineralization differ greatly in orientation and overall controls to vein geometry are poorly understood.  Veins commonly have haloes of silica and sericite alteration.  The Main Zone at Clan Lake, that is host to the bulk of the resource, ranges from approximately 125 to 250 m in width, has a strike length of 1,200 m and has been intersected in drill holes to a depth of 400 m below surface, where it is still open.  A second zone named the 330 Zone has been defined to the South West of the Main Zone, which dips steeply northeast and has a strike length of possibly 600 m with an average thickness of less than 5 m.  The Clan Lake deposit is defined by 40,515 m of surface diamond drilling in 185 holes.

Sulphide mineralogy at Ormsby, Bruce, Goodwin Lake and Clan Lake consists of pyrrhotite, pyrite and arsenopyrite with minor chalcopyrite, sphalerite and galena.  At Nicholas Lake, sulphide mineralogy includes arsenopyrite, pyrite, pyrrhotite, sphalerite, galena, chalcopyrite and scheelite.

Metallurgical test work has been performed on composite drill holes and bulk samples from the Nicholas Lake, Ormsby and Clan Lake deposits.

SRK obtained the drill hole databases from archived files used in the 2012 feasibility study mineral resource estimate.  The databases were imported into Seequent Leapfrog® Geo ("Leapfrog") on which SRK performed standard validation tests to ensure the integrity of the database.  Geological and mineralized domains (wireframes) were constructed for each deposit based on surface mapping, core logging and historical records.  Geological and gold grade domains were constructed using three-dimensional implicit and explicit modelling along identified historical mineralization trends.

Wireframes produced in Leapfrog along with the drill hole databases were subsequently imported into Datamine™ Studio RM Software (Datamine™) for block model estimation.  Block models were constructed for each deposit using 3 by 3 by 3 m block dimensions, similar to the block size used in the 2012 estimate to reflect the selective mining unit.  Gold samples were composited to 1.5 m in length within each domain that honored the domain boundaries.  Erratic high-grade gold outliers were analyzed at each of the deposits utilizing Phinar Software’s X10 software, which were then analyzed both visually and statistically for breaks in trend.  Key breaks in the gold grade were reviewed and the percentage of samples capped, impact on the mean grade, and the reduction in the co-efficient of variation were noted.  Variography was used to model the grade continuity and to determine the search ellipse orientations and dimensions for interpolation at each deposit.

SRK completed Kriged (Ordinary Kriging), Inverse Distance Squared and Nearest Neighbor estimates for each deposit.  Ordinary Kriging was chosen as the primary estimation method for all deposits except for Clan Lake, which displayed relatively poor geostatistical continuity and inverse distance squared was used for interpolation.  This lower confidence was reflected in the inferred classification of the deposit.  Grades were interpolated into each block using a two- or three-pass estimation methodology using ever increasing search ellipses for each pass.  Validation of the model was completed by comparison of the block model and drill hole grades by visual inspections in section and plan across the deposit. 

Resource Classification

Block model quantities and grade estimates for the Project were classified according to the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (May 2014).

SRK’s classification system is similar to that used in the 2012 estimate with adjustments at some deposits based on re-interpretation of geology.

Nicholas Lake

Indicated Mineral Resources were blocks within the modelled veins above the 150 m elevation that were informed by a minimum of 2 drill holes on either the first or second search pass.

Inferred Mineral Resources were blocks in the model that do not meet the criteria for Indicated resources and have been informed by a minimum of one drill hole on the second or third estimation search pass.

Ormsby and Bruce

Measured Mineral Resources (Ormsby only) were blocks informed by a minimum of 2 drill holes within a drill spacing of 12.5 m and deemed to have sufficient geological confidence to confirm grade continuity.

Indicated Mineral Resources were blocks informed by a minimum of two drill holes internal to either the Measured or the Indicated classification solids and estimated on either the first or second estimation pass.

Inferred Mineral Resources were blocks in the model that do not meet the criteria for Measured or Indicated resources and have been informed by a minimum of one drill hole on the third estimation search pass.

Goodwin Lake

All blocks have been classified as Inferred Mineral Resources due to the relatively wide drill hole spacing.

Clan Lake

All blocks have been classified as Inferred Mineral Resources due to the relatively wide drill hole spacing, lack of geological continuity as displayed in the variography and during the geological modelling process.

Reasonable prospects for eventual economic extraction of the resource were met by reporting the resource within a conceptual pit shell using a cut-off grade of 0.5 g/t and resources below the pit using a cut-off grade of 1.5 g/t gold.  Conceptual pit shells were generated using Maptek Lerchs Grossman software for pit optimization.  The conceptual pit delineated resource is reported within a conceptual pit shell using an assumed gold price of US$1,500/oz, metallurgical recovery of 90%, mining cost of US$2.00/t and processing and G&A cost of US$23.00/t.  Underground resources with reasonable prospects of eventual economic extraction were stated as those contained within gold grade shapes above a 1.50 g/t Au cut-off.

The SRK 2019 measured and indicated resource has seen a reduction in the in-situ ounces of 38%, but an increase in overall grade of 18%, while the inferred resource had a 52% increase in the in-situ ounces, but a 6% decrease in overall grade as compared to the SRK 2012 SRK resource estimate.  SRK attributes these changes to more conservative geological modelling, block model interpolation parameters and classification.

Further details regarding the foregoing estimate, including the estimation methods and procedures, will be available in a NI 43-101 Technical Report, which will be filed on SEDAR (www.sedar.com) under the Company’s profile within 45 days from the date of this release.

Quality Control – Quality Assurance Program

The above resource estimate was based on drilling programs completed by previous operators.  The drill programs incorporated control samples including blanks, duplicates and standards as part of their Quality Control – Quality Assurance Program.  The control samples from the drill programs have been reviewed and verified by the Qualified Persons (as defined herein) and the assay results were deemed suitable for resource estimation. 

Qualified Person

The resource estimate disclosed herein on the Yellowknife Project was prepared for GoldMining by Ben Parsons, B.Sc., M.Sc., MAusIMM (CP), of SRK Consulting (U.S.), Inc. and Mr. Dominic Chartier, P.Geo. (APGO #2775 and OGQ #874), of SRK Consulting (Canada) Inc.  Mr. Parsons and Mr. Chartier are recognized as qualified persons as defined in Canadian National Instrument 43-101 ("NI 43-101"), are independent of the Company and have reviewed and approved the disclosure regarding the resource estimate for the Yellowknife Project disclosed herein.  Mr. Chartier completed a site visit to the Yellowknife Project from September 25 to 26, 2018.

SRK previously completed a resource estimate on the Project in 2012 as part of a feasibility study for the previous owner.  No new exploration work or drilling has been completed on the Project since the last estimate or the effective date of March 1, 2019 of this estimate.

Paulo Pereira, President of GoldMining Inc. has reviewed and approved the technical information contained in this news release.  Mr. Pereira holds a Bachelors degree in Geology from Universidade do Amazonas in Brazil, is a Qualified Person as defined in NI 43-101 and is a member of the Association of Professional Geoscientists of Ontario.

Cautionary Note

Investors are cautioned not to assume that any part or all of the mineral deposits in the "measured", "indicated" and "inferred" categories will ever be converted into mineral reserves with demonstrated economic viability or that inferred mineral resources will be converted to the measured and/or indicated categories through further drilling.  In addition, the estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources.  Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of pre-feasibility or feasibility studies.

About GoldMining Inc.

GoldMining is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas.  Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia and Peru.  Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, located in the Western Athabasca Basin of Alberta, Canada.

The above aggregated resource statement is provided for information purposes only.   Investors should refer to the underlying technical reports referenced above for project-specific factors relating to each resource estimate.

Forward-looking Statements

This document contains certain forward-looking statements that reflect the current views and/or expectations of GoldMining with respect to its business and future events, including expectations and future plans respecting the Project and statements with respect to the details of the mineral resource estimate.  Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates.  Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: the inherent risks involved in resource estimation and the exploration and development of mineral properties, the uncertainties involved in resource estimation and 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 GoldMiningꞌs 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 the Project.  These risks, as well as others, including those set forth in GoldMiningꞌs filings with Canadian securities regulators, could cause actual results and events to vary significantly.  Accordingly, readers should not place undue reliance on forward-looking statements and information.  There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate.  GoldMining does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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