Metals Update 28/12/2020

Globex Mining hires Novatem for Opinaca River survey

Globex has engaged Novatem to undertake a detailed (25-metre spacing) aeromagnetic survey over its large Opinaca River gold property located on strike to the southwest of Azimut’s gold discovery. The property covers 13 kilometres of the rock units that house the Elmer gold discovery and totals 65 claims, including four separate claims to the north such that the company’s 3,431-hectare land package also adjoins on both the south and northwest of Dios’s K2 gold target, which Dios has just completed drilling.

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Orca Gold notes Sudan’s immunity reinstatement

Orca Gold Inc. has noted that United States lawmakers have approved a bill reinstating Sudan’s sovereign immunity.

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IsoEnergy closes $4-million bought deal financing

IsoEnergy Ltd. has closed its previously announced bought deal private placement financing pursuant to an agreement with Haywood Securities Inc., raising aggregate gross proceeds of $4-million. Under the terms of the offering, the company issued 2,702,703 flow-through common shares of the company at a price of $1.48 per flow-through share.

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Plateau Energy holder Disbrow disposes of 1.35 M shares

Robert Disbrow of Suite 700, 200 Burrard St., Vancouver, B.C., directly and on behalf of beneficial owners of securities through discretionary accounts over which he exercises control or direction, has disposed of an aggregate 1,354,749 common shares at an average per-share price of approximately 32.42 cents through the facilities of the TSX Venture Exchange in the capital of Plateau Energy Metals Inc., which decreased Mr. Disbrow’s securityholding percentage interest on a postconversion beneficial ownership basis from approximately 13.32 per cent to approximately 12.05 per cent.

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Canada Nickel recovers 46%, 51% Ni from Crawford

Canada Nickel Company Inc. has provided excellent results from metallurgical testing on its 100-per-cent-owned Crawford nickel-cobalt sulphide project.

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Kerr Mines changes name to Arizona Gold

Kerr Mines Inc. has completed a corporate name change to Arizona Gold Corp. which more appropriately reflects the company’s focus with the restart of production at its 100-per-cent-owned Copperstone gold project located in Arizona.

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Bonterra bulk samples 3.87 g/t Au at Moroy

Bonterra Resources Inc. has released the results from its bulk sampling program at the Moroy project previously announced on Sept. 15, 2020. The results from processing 11,093 tonnes extracted from the M1 structure confirmed the mineral resources estimated by SGS Canada Inc. in May, 2019. The average mill head grade obtained in the bulk sample was 3.87 grams per tonne, which is 9.3 per cent higher than the measured resources grade of 3.54 g/t from the block model calculated by SGS from the same extracted sector of the M1 structure. The results from the bulk sample confirms the validity of the geological model, and the resources calculation performed by SGS.

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Critical Elements options 80% of Nisk to Chilean Metals

Critical Elements Lithium Corp. has entered into an agreement with Chilean Metals Inc. to option up to 80 per cent of the Nisk nickel-copper-PGE (platinum group elements) project, in Quebec’s Eeyou Istchee James Bay territory.

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Highgold Mining closes $3.7-million private placement

Highgold Mining Inc. has closed its previously announced non-brokered private placement of 1.5 million flow-through common shares in its capital at a price of $2 per flow-through share for aggregate gross proceeds of $3-million (see news release dated Dec. 15, 2020).

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Norzinc closes $1.58-million private placement

Norzinc Ltd. has closed its non-brokered private placement of 19.75 million flow-through common shares of the company at a price of eight cents per flow-through share for gross proceeds of $1.58-million.

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Brixton Metals 1.4-million-flow-through-share financing

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 21, 2020.

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Victory Metals closes $15.1M first tranche of placement

Further to the news releases dated Dec. 7, 2020, and Dec. 22, 2020, Victory Metals Inc. has closed, subject to final approval of the TSX Venture Exchange, the first tranche of its non-brokered private placement financing of subscription receipts of Victory. Pursuant to the private placement, Victory issued 27,569,702 subscription receipts at a price of 55 cents per subscription receipt for aggregate gross proceeds of $15,163,336.

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Power Metals completes Paterson, Gullwing option deal

Power Metals Corp. has entered into an amending agreement with Exiro Minerals Corp. regarding the remaining payments due by the company to acquire the Paterson Lake and Gullwing-Tot Lakes properties.

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Azarga files short-form prospectus, Dewey tech report

Azarga Uranium Corp. has filed a final short-form prospectus in respect of its previously announced offering of units of the company for gross proceeds to the company of $6-million.

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Sirios Resources 3,469,996-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.

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