Metals Update 17/8/2020

Copper Fox Metals to hold annual meeting call

Copper Fox Metals Inc. has provided details of the company’s coming annual and special meeting to be held on Aug. 20, 2020, at 10 a.m. MT. The meeting will be accessible to shareholders through a live conference call (dial-in numbers provided herein) and audio webcast (available at on the Copper Fox Metals website).

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Cantex closes $1.13-million private placement

Further to its news release of July 27, 2020, Cantex Mine Development Corp. has closed the first tranche of its $5-million non-brokered private placement of flow-through and charity flow-through shares. In this closing, the company issued 668,000 flow-through shares for gross proceeds of $1,135,600. These shares were sold at a price of $1.70 per share.

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Eskay Mining 2,130,129 shares for debt

The TSX Venture Exchange has accepted for filing the company’s proposal to issue 2,130,129 common shares at a deemed value of 17 cents per share to settle outstanding debt for $362,122.

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GR Silver Mining 427,375 shares for debt

The TSX Venture Exchange has accepted for filing the company’s proposal to issue 427,375 shares at a deemed price of 47.5 cents to settle outstanding debt for $203,003.

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Enviroleach director Kiland resigns

Jack Kiland has resigned as a director of Enviroleach Technologies Inc. due to health reasons, effective immediately.

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Komet Resources Options Brunswick Belt Property From Osisko Metals

MONTREAL, Aug. 17, 2020 (GLOBE NEWSWIRE) — Komet Resources Inc. (“Komet”) (TSX-V: KMT, OTCQX: KMMTF, FRANKFURT: 1XQ) and Osisko Metals Incorporated (“Osisko Metals”) (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) are pleased to announce that they have entered into an Option Agreement (the “Option”) whereby Komet can acquire a majority interest in Osisko Metals’ Brunswick Belt exploration property (the “Property”),  located in the eastern portion of the Bathurst Mining Camp in the Bathurst area in New Brunswick (the “Transaction”). The Property covers 72 kilometres of the prolific Brunswick Belt and includes the Key Anacon and Gilmour South base metal deposits. The Option allows Komet to earn up to 75% interest by spending an aggregate of $15,000,000 in three stages over a seven-year period.

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FPX Nickel appoints Harshaw to board

FPX Nickel Corp. has appointed Stuart Harshaw, PEng, MBA, to the board of directors, effective immediately. Mr. Harshaw is a leading figure in the global nickel market, with over 30 years of experience in the production and marketing of nickel products worldwide, including in his roles as the vice-president of marketing and operations for Asia-Pacific and vice-president, Ontario operations, for Vale SA until 2017.

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Steppe talks operating income, omits P&L from Q2 NR

Steppe Gold Ltd. has provided its financial results for the second quarter ended June 30, 2020.

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Erdene Provides Second Quarter Financial and Bayan Khundii Gold Project Update

HALIFAX, Nova Scotia, Aug. 17, 2020 (GLOBE NEWSWIRE) — Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) (“Erdene” or the “Company“) is pleased to announce operating and financial results for the three and six months ended June 30, 2020 and to provide an update on the Bayan Khundii Gold Project. This release should be read in conjunction with the Company’s Q2-2020 Financial Statements, MD&A and Annual Information Form, available on the Company’s website or SEDAR.

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Komet to option Brunswick Belt from Osisko Metals

Komet Resources Inc. and Osisko Metals Inc. have entered into an option agreement whereby Komet can acquire a majority interest in Osisko Metals’ Brunswick Belt exploration property, located in the eastern portion of the Bathurst mining camp in the Bathurst area in New Brunswick. The Property covers 72 kilometres of the prolific Brunswick Belt and includes the Key Anacon and Gilmour South base metal deposits. The Option allows Komet to earn up to 75% interest by spending an aggregate of $15,000,000 in three stages over a seven-year period.

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Gold Terra Commences Drilling Program Today on the High-Grade Crestaurum Deposit in Yellowknife, NWT

VANCOUVER, BC / ACCESSWIRE / August 17, 2020 / Gold Terra Resource Corp. (TSX-V:YGT) (Frankfurt:TX0) (OTC PINK:TRXXF) (“Gold Terra” or the “Company) is pleased to announce the commencement of a 10,000 metre drilling program testing high-grade gold targets at its wholly owned Yellowknife City Gold project (“YCG”) in the Northwest Territories.

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Horizonte Minerals releases 2019 sustainability report

Horizonte Minerals PLC has published its 2019 sustainability report. The report is an overview of the Company’s sustainability performance over the 2019 financial year and is primarily focussed on the Araguaia ferronickel project but, data from the Vermelho nickel-cobalt project and corporate head office is included where appropriate.

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Los Andes Copper to roll back shares 1:10

Los Andes Copper Ltd. intends to proceed with a share consolidation of its issued and outstanding common shares on the basis of one postconsolidation common share for every 10 preconsolidation common shares. Following the consolidation, the company will have approximately 27,165,813 postconsolidation common shares.

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Orca Gold to Deliver a Revised Feasibility Study on Block 14 and Report on Montage Drilling

VANCOUVER, BC, Aug. 17, 2020 /CNW/ – Orca Gold Inc. (TSXV: ORG) (“Orca” or the “Company”) is pleased to report that detailed engineering work since delivery of a Feasibility Study (see Company’s news release on November 7, 2018) on the Company’s 70%-owned Block 14 gold project in the Republic of the Sudan, has identified improvements which are likely to enhance the already strong economics or the Project. Orca expects to file a revised study in September 2020 reflecting these improvements, updating capital costs to Q2 2020 and highlighting the impact of current gold pricing on valuation.

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Altus Strategies’ JV partner drills 14 m of 4.7 g/t Au

Altus Strategies PLC has released high-grade drilling results from the FT prospect at the company’s Tabakorole gold project in southern Mali. The drilling was completed by Graphex Mining Ltd. under the joint venture with Altus.

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Sirios drills 7.5 m of 19.5 g/t Au at Cheechoo

Sirios Resources Inc. has released the remaining assay results of the drilling campaign completed in March at the Cheechoo gold property in the Eeyou Istchee James Bay region of Quebec. Among the significant new results, multiple zones were intersected outside of the limits of the conceptual pit used to define the resources estimate:

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