Metals Update 10/12/2020

Osisko Metals sells 0.5% Pine Point NSR to Osisko Gold

Osisko Metals Inc. has arranged a financing package totalling $8.5-million, comprising (a) the grant of a further 0.5-per-cent net smelter returns royalty to Osisko Gold Royalties Ltd. on the Pine Point project for cash consideration of $6.5-million and (b) a non-brokered private placement of up to 4.2 million units of the company at a price of 48 cents per unit for gross proceeds of up to $2-million, as more particularly described herein.

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Greencastle arranges $100,000 financing with Marburg

Greencastle Resources Ltd. has reached an arrangement with Marburg Corp., whereby Marburg shall be the sole subscriber to a private placement of one million Greencastle units at 10 cents. Each unit will consist of one common share and one common share purchase warrant exercisable for three years at 15 cents.

Ucore talks U.S. National Defense Authorization Act

Ucore Rare Metals Inc. has noted several developments with rare earth elements involving the United States government’s National Defense Authorization Act (NDAA) for fiscal year 2021.

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Great Bear drills 4.9 m of 15.18 g/t Au at Dixie

Great Bear Resources Ltd. has released results from its continuing $21-million fully financed exploration program at its 100-per-cent-owned flagship Dixie project in the Red Lake district of Ontario.

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Compass Gold increases financing to $3.7-million

As a result of substantial investor demand, Compass Gold Corp. has further increased the size of its initially announced $2.5-million private placement (see Compass news releases dated Nov. 30 and Dec. 7, 2020) and will now issue up to 18.5 million common shares of the company at 20 cents per share for aggregate gross proceeds of up to $3.7-million.

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Ely Gold closes acquisition of 1% NSR from Sanatana

Ely Gold Royalties Inc. has closed the purchase of a 1-per-cent net smelter returns royalty from Sanatana Resources Inc. that was announced on Sept. 29, 2020. The Watershed royalty was granted to Sanatana in connection with an asset purchase agreement between the company and Trelawney Augen Acquisition Corp., now Iamgold Corp., dated Jan. 12, 2016, whereby Iamgold acquired a 100-per-cent interest in 46 mining claims in Chester and Yeo counties, Ontario (the Watershed property). In addition to the purchase of the Watershed royalty, Ely Gold was assigned the purchase agreement and participated in a private placement of Sanatana common shares. The transactions were closed on Dec. 12, 2020.

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Kore Mining samples up to 1.4 g/t Au at Imperial

Kore Mining Ltd. has provided positive sampling and mapping program results from the Mesquite-Imperial-Picacho district exploration on the Imperial gold project, which is nine miles southeast from Equinox Gold’s Mesquite gold mine.

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Standard Lithium prices $30.03-million public offering

Standard Lithium Ltd. has priced its previously announced marketed public offering of common shares of the company. The company intends to issue up to 13.65 million shares at a price of $2.20 per share for aggregate gross proceeds of up to $30.03-million. The offering is being conducted on a best-effort agency basis by Roth Canada ULC and Echelon Wealth Partners Inc. as co-lead agents and joint bookrunners, together with Roth Capital Partners LLC as the exclusive placement agent in the United States. The company has agreed to grant the agents an option, exercisable in whole or in part at the sole discretion of the agents, to purchase from the company up to an additional 15 per cent of the shares sold under the offering, on the same terms and conditions of the offering to cover overallotments, if any, and for market stabilization purposes.

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K92 Mining to list on TSX

K92 Mining Inc. has received final approval for the listing of its common shares on the Toronto Stock Exchange.

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K92 Mining to be delisted from TSX-V

The TSX Venture Exchange has been advised that the company’s shares will be listed and commence trading on the Toronto Stock Exchange at the opening on Wednesday, Dec. 9, 2020, under the symbol KNT.

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Abraplata drills 83 m of 398 g/t AgEq at Diablillos

Abraplata Resource Corp. has released significant high-grade assay results from diamond drill hole DDH 20-009, completed at the Oculto deposit, located on its wholly owned Diablillos in Salta province, Argentina. The hole was designed to test extensions beyond the current mineral resource.

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Osisko Metals drills 8.6 m of 15% Zn+Pb at Pine Point

Osisko Metals Inc. has provided results from the completed fall drill program at its 100-per-cent-owned Pine Point project, Northwest Territories. Assay results have been received from 15 exploration holes in the Central zone that tested gravity gradiometry anomalies as well as areas of unconstrained mineralization around the current resource block model.

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BTU Metals drills fine visible gold at Dixie Halo

BTU Metals Corp.’s recent drilling has intersected fine visible gold at a location northeast and up ice of an area where till sampling results over the past year have identified numerous gold grains at many locations. This first discovery of visible gold in bedrock was just drilled and has yet to be assayed. The discovery is located in the northern part of the company’s extensive Red Lake property holdings known as the Dixie Halo property.

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Compass Gold increases financing to $3.4-million

Compass Gold Corp. has increased the size of its previously announced $2.5-million private placement (see Compass’s news release dated Nov. 30, 2020) and will now issue up to 17 million common shares of the company, at a price of 20 cents per share, for aggregate gross proceeds of up to $3.4-million.

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Ucore Rare Metals 1:10 share rollback

Pursuant to a special resolution passed by shareholders on Dec. 3, 2020, the company has consolidated its capital on a one-new-for-10-old basis. The name of the company has not been changed.

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Ucore receives shareholder approval for 1:10 rollback

Ucore Rare Metals Inc. has released the voting results of the company’s special meeting of shareholders held on Dec. 3, 2020, regarding the company’s proposed one-for-10 share consolidation.

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Standard Li finishes processing tech proof of concept

Standard Lithium Ltd. has successfully completed the start-to-finish proof of concept of its modern lithium processing technology. Successful operation of the technology at precommercial continuous scale has directly extracted lithium from brine in Arkansas and produced a purified, concentrated intermediate product (LiCl solution) which has been converted to better than battery quality lithium carbonate final product.

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Amex Exploration drills 1.5 m of 144.9 g/t Au at Perron

Amex Exploration Inc. has released results from several holes targeting the depth and lateral extensions of the high-grade zone (HGZ), a continuous high-grade gold system that is immediately north of the Denise zone, forming together the eastern gold zone (EGZ) of the Perron property in northwestern Quebec, Canada. These results significantly expand the strike length of the high-grade portion of the HGZ, increasing the potential of ounces per vertical metre of the system, as well as increasing dimension of the high-grade mineralization at depth. Highlights are detailed below, and a complete list of results is available in the associated table.

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Angkor to issue 1.09 million units for debt of $150,287

Angkor Resources Corp.’s board of directors has approved the settlement of up to $105,287.67 of debt through the issuance of 1,093,898 units at a deemed price of 5.5 cents per unit. Each unit consists of one common share of the company and one-half share purchase warrant exercisable for a period of 12 months at an exercise price of 10 cents per warrant. Pursuant to the debt settlement, the company will also issue 820,423 common shares at a deemed price of 5.5 cents to an insider of the company. The debt being settled is pursuant to interest owed on convertible notes. Details of the notes were announced July 16, 2018.

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