QMX drills 185 m of 2.16 g/t Au at Bonnefond
QMX Gold Corp. has released results from the continuing deep exploration drilling program on the Bonnefond deposit. Drill hole 17315-20-149 was completed as part of a series of deep drill holes testing the potential below the conceptual pit shell at Bonnefond. The Bonnefond deposit is located in the Val d’Or East zone of QMX’s extensive land package in Val d’Or, Que.Read More
Highlights (grades are uncut; length is measured along the hole):
- 2.16 grams per tonne gold over 185.0 m within the 2020 mineral resource estimate conceptual pit shell;
- 10.88 g/t Au over 11.2 m including 37.88 g/t Au over 2.0 m at 620 m;
- 11.31 g/t Au over 2.0 m at 1,040 m.
DDH 149 confirms the results of DDH 121 and the potential of the Bonnefond deposit below the 2020 mineral resource estimate (MRE) conceptual pit shell.
“Again, the Bonnefond deposit has proven highly prolific, returning impressive results near surface as well as at depth,” said Dr. Andreas Rompel, vice-president, exploration. “It is now evident that we have high-grade mineralization from high up to deep down in the intrusion, its intersecting shear zones and the immediate environment. We will continue to test this potential with the intention to enlarge our resource at Bonnefond. We are keenly awaiting the results of the next holes at this location.”
The Bonnefond deposit comprises an intrusive body and series of shear zones transecting the intrusive and the surrounding volcanic series. The main part of the mineralization is hosted in the shear zones and is associated with quartz tourmaline veins, pyrite and strong sericite-albite-fuchsite alteration. In the tonalite, mineralized veins and veinlets extend outside of the shear envelopes.
Drill hole 149 was drilled down plunge in the central part of the Bonnefond tonalite 40 m west of DDH 121 to test the continuity of the mineralized enrichment zones intersected by DDH 121 (news release dated Aug. 18, 2020). The drill hole remained within the mineralized tonalite from the bedrock to its end at 1,199 m. The diamond drill hole intersected multiple enriched zones along its entire course with an angle close to true width. These intervals are listed in the associated table.
Within the 2020 MRE conceptual pit shell, DDH 149 intersected 2.16 g/t Au over 185.0 m with several enriched intervals varying from 4.01 g/t Au over 23.1 m to 7.62 g/t Au over 15.0 m. Those enriched intervals are related to a higher density of quartz tourmaline veins and a stronger alteration with visible gold often observed.
Below the pit shell, the hole intersected several mineralized intervals and was successful at intersecting the continuities of two deep intervals of DDH 121. At a depth of 621.0 m, DDH 149 intersected 10.88 g/t Au over 11.2 m, including 37.88 g/t Au over 2.0 m and in DDH 121, the same mineralized horizon returned a grade of 6.37 g/t Au over 11.2 m at 590 m down the hole. At 1,040.0 m, DDH 149 intersected 11.31 g/t Au over 2.0 m, the same horizon graded 35.56 g/t Au over 4.0 m in DDH 121.
Proven by the success of the first inferred underground resource on the Bonnefond deposit detailed in the 2020 mineral resource estimate (new release dated Dec. 2, 2020) and the results from DDH 121 and 149 located below the conceptual pit shell, the company will continue to focus on the deep exploration program on the Bonnefond deposit.
RESULTS FROM DDH 149 -- BONNEFOND DEPOSIT Hole No. Hole From To Length* Au** length (metre) (metre) (metre) (g/t) 17315-20-149 1,199 60.0 245.0 185 2.16 incl. 65.5 88.6 23.1 4.01 incl. 101.1 106.1 5.0 3.49 incl. 112.1 127.1 15.0 7.62 incl. 133.1 150.3 17.2 3.44 286.0 289.1 3.1 3.02 297.0 303.6 6.6 2.82 415.5 417.0 1.5 5.92 476.1 477.1 1.0 8.41 543.0 544.5 1.5 3.97 557.3 568.0 10.7 1.05 569.5 571.5 2.0 3.82 573.4 582.3 8.9 1.41 616.3 627.5 11.2 10.88 Incl. 624.1 626.1 2.0 37.88 669.3 671.0 1.7 4.16 697.3 701.0 3.7 2.06 705.9 709.3 3.4 1.62 810.3 812.6 2.3 4.49 878.1 881.6 3.5 2.21 942.5 944.0 1.5 3.31 960.2 961.8 1.6 4.96 1,013.8 1,015.1 1.3 11.32 1,039.0 1,041.0 2.0 11.31 1,094.9 1,096.1 1.2 3.87 * Reported length was measured along the hole. ** Au is uncut.
Current exploration drilling
QMX currently has four drill rigs operating on its Val d’Or property, all on the Bonnefond property. QMX Gold expects to mobilize additional drill rigs as soon as the field conditions allow it to start its winter drilling program at Bevcon and the New Louvre deposits.
Arizona Metals increases placement to $10M
Due to strong investor demand, Arizona Metals Corp. has increased its previously announced non-brokered private placement (see news release dated Jan. 4, 2021) from 5,263,158 shares of the company at a price of 95 cents per share for gross proceeds of $5-million, to up to 10,526,319 shares for gross proceeds of up to $10-million.Read More
Marc Pais, chief executive officer of Arizona Metals, commented: “We are very pleased with the strong support that we have received from both current and new investors. This is also a testament to the strategic value of our recently announced acquisition, which substantially expands our holdings of private land near our Kay mine project. The additional funding will also allow for significant expansion of the phase 2 drilling program beyond the 11,000 metres planned prior to this financing.”
The company may pay finders’ fees in accordance with the rules and policies of the TSX Venture Exchange. The offering remains subject to the approval of the exchange. All securities issued in the offering will be subject to a statutory hold period of four months and a day from the closing date of the offering.
On Jan. 4, 2021, the company announced that it has entered into a purchase option and sale agreement with an arm’s-length Arizona-based private company to acquire 100 per cent of six parcels of patented land totalling 107 acres, located 900 metres northeast of its Kay mine VMS (volcanogenic massive sulphide) project. The property includes the surface, mineral and water rights, among other rights and benefits.
The proceeds raised by the company pursuant to the offering will be used for the property acquisition, exploration drilling under the Kay mine phase 2 program, as well as general and administrative purposes.
Drill mobilization for Kay phase 2 program
Arizona Metals has contracted Boart Longyear to mobilize the first drill to the Kay mine project during the week of Jan. 4, 2021. Drilling under the phase 2 program will consist of up to 11,000 m in 29 core drill holes. Drilling will start at the Kay mine deposit to test for new VMS lenses in anticlinal hinge zones identified to the north and south of recent drilling, as well as the up-plunge and down-plunge extensions of known hinges.
Drilling will begin at the Kay mine targets and progress to targets on strike (north and south) of the Kay mine, and then to central and western targets as permitting is completed. Permitting is currently under way for these targets and is progressing well.
Generation drills 43 m of 2.82 g/t PdEq at Marathon
Generation Mining Ltd. has released final results from its 12-hole, 5,068-metre exploration drill program focused on the downdip western extension of the W horizon portion of the Marathon palladium deposit, which is currently the subject of a feasibility study. The 2020 exploration drilling results will not be incorporated in the feasibility study, which is continuing and should be released during the first quarter of 2021.Read More
The drill program was designed to test the potential for near-surface, ramp-accessible mineralization. Results from the first four holes of the program were released on Oct. 29, 2020, and further results on Dec. 16, 2020.
Results from hole M-20-548, provided in the associated table, and results from previously released hole M-20-547 (Oct. 29, 2020) confirm the existence of a high-grade zone of palladium mineralization within the heart of the deposit’s main feeder zone approximately 250 m downdip from the Marathon deposit. Drill density is low in this area, which is highly prospective, both along strike and downdip, for high-grade W horizon mineralization as well as net-textured to massive sulphides (see Oct. 29, 2020, news release).
Jamie Levy, president and chief executive officer of Generation Mining, stated, “Ending our 2020 exploration program with our best drill intercept of high-grade PGMs plus copper will make for an interesting exploration program in 2021, and with the recent financing, we now have the funds for this.”
ASSAY RESULTS Hole ID From To Length Au Pt Pd Cu PdEq** (m) (m) (m) (g/t) (g/t) (g/t) (%) (g/t) M-20-548 104 108 4 0.08 0.14 0.82 0.13 1.21 326 336 10 0.01 0.63 0.45 0.01 0.92 360 403 43 0.19 0.59 1.81 0.25 2.82 and incl. 360 387 27 0.22 0.74 2.37 0.34 3.66 and also incl. 366 374 8 0.43 1.36 3.86 0.62 6.26 M-20-549 no significant assays M-20-550 19 23 4 0.11 0.12 0.98 0.19 1.47 * True width approximates downhole length. ** The palladium equivalent (PdEq) calculation expressed in g/t is the sum of the theoretical in situ value of the constituent metals (Au plus Pt plus Pd plus Cu) divided by the value of one gram of palladium. The calculation makes no provision for expected metal recoveries or smelter payables. Per-ounce commodity prices of $1,300 (U.S.), $900 (U.S.) and $1,275 (U.S.) were used, respectively, for Au, Pt and Pd, and a $3 (U.S.)/pound value was assigned for Cu.
Anaconda drills 0.5 m of 871.23 g/t Au at Goldboro
Anaconda Mining Inc. has released further drill results from a completed infill drill program at its 100-per-cent-owned Goldboro gold project in Nova Scotia, Canada. The drill program comprised 17,941.7 metres and was designed to convert priority inferred mineral resources into measured and indicated mineral resources of the Goldboro deposit as part of the continuing feasibility study, which recognizes the opportunity for expanded open-pit mining areas as well as underground mining opportunities.Read More
Results from the current drilling (3,241.0 metres in 27 diamond drill holes) all reflect shallow drilling (less than 175 vertical metres) at the East Goldbrook gold system at the eastern end of the Goldboro deposit. These results demonstrate that numerous near-surface mineralized zones exist in the EG gold system with similar geometry and location to the modelled mineral resource. In particular, the highest-grade intersections reported herein are consistent with other previously reported intervals of high-grade gold (greater than 50.0 grams per tonne). A total of 11 visible gold occurrences were also observed in these drill holes.
Selected composited highlights from the drill program include:
- 871.23 grams per tonne gold over 0.5 metre (52.9 to 53.4 metres) and 47.87 g/t gold over 1.5 metres (63.1 to 64.6 metres) in hole BR-20-193;
- 20.08 g/t gold over 2.4 metres (50.6 to 53.0 metres) including 74.40 g/t gold over 0.6 metre in hole BR-20-195;
- 4.73 g/t gold over 4.5 metres (100.0 to 104.5 metres) including 20.10 g/t gold over 1.0 metre in hole BR-20-200;
- 3.41 g/t gold over 3.2 metres (91.8 to 95.0 metres) in hole BR-20-185;
- 1.11 g/t gold over 7.0 metres (44.0 to 51.0 metres) in hole BR-20-187;
- 3.17 g/t gold over 6.1 metres (114.9 to 121.0 metres) including 18.10 g/t gold over 0.7 metre in hole BR-20-215;
- 0.55 g/t gold over 17.9 metres (23.1 to 41.0 metres) in hole BR-20-205.
“The infill drill results from East Goldbrook show very high-grade intercepts locally as well as broader zones of lower-grade mineralization, all at levels that could conceptually be mined through open-pit mining methods. Of particular interest in this round of drilling is the consistency of spectacular grades from East Goldbrook indicating there may be specific opportunities for further high-grade resource growth since this zone remains open for expansion down plunge. We will use the new data gathered in this round of infill drilling to upgrade mineral resources to the measured and indicated categories at East Goldbrook as part of the fully updated resource estimate anticipated in the first quarter of 2021,” said Kevin Bullock, president and chief executive officer, Anaconda Mining.
To date, a total of 17,941.7 metres in 111 drill holes (BR-20-105 to BR-20-215) have been completed under the drill program, with assays from drill holes BR-20-105 to BR-20-183 previously reported in news releases dated Sept. 3, 2020, Oct. 5, 2020, Nov. 11, 2020, and Nov. 19, 2020. This release outlines the results for 3,241.0 metres in 27 diamond drill holes from BR-20-184 to BR-20-215 (however, they exclude diamond drill holes BR-20-202, -207, -210, -211 and -213, which were drilled within the West Goldbrook gold system). Drill results from infill drilling in the WG gold system will be reported once all assays from that area have been received and evaluated.
The drill program is financed using existing flow-through funds but has also benefited from a grant received from the government of Nova Scotia through a mineral resources development fund, shared funding exploration grant MRDF-2020-SF-035.
The company has critically considered logistical matters given the continuing COVID-19 pandemic, to ensure that this drill program and any other programs are executed in a way that ensures the absolute health and safety of the company’s personnel, contractors and the communities where the company operates.
SELECTED COMPOSITE HIGHLIGHTS WITHIN THIS NEWS RELEASE FROM THE DRILL PROGRAM Hole ID From To Interval Gold (m) (m) (m) (g/t) BR-20-184 29.2 30.7 1.5 1.12 BR-20-185 24.6 25.6 1.0 1.00 and 43.0 46.0 3.0 1.41 and 75.0 76.0 1.0 1.32 and 83.8 85.2 1.4 3.26 and 91.8 95.0 3.2 3.41 BR-20-187 22.5 23.5 1.0 1.00 and 27.0 27.5 0.5 2.45 and 44.0 51.0 7.0 1.11 BR-20-188 84.0 84.5 0.5 2.41 and 92.5 93.0 0.5 3.66 BR-20-189 56.0 57.0 1.0 11.50 BR-20-190 60.9 61.4 0.5 2.16 BR-20-191 99.7 100.7 1.0 2.17 and 111.6 112.1 0.5 10.20 and 125.8 126.3 0.5 0.51 and 134.6 136.1 1.5 1.27 and 142.0 145.1 3.1 0.73 BR-20-192 59.9 60.5 0.6 4.74 BR-20-193 43.5 44.0 0.5 0.81 and 52.9 53.4 0.5 871.23 and 63.1 64.6 1.5 47.87 including 63.6 64.6 1.0 62.90 and 73.8 74.8 1.0 1.48 and 80.8 83.8 3.0 3.58 BR-20-194 50.5 51.0 0.5 1.18 and 73.7 74.2 0.5 2.51 and 104.0 105.1 1.1 0.89 and 111.9 115.0 3.1 1.59 including 112.5 113.0 0.5 4.88 and 128.0 130.3 2.3 0.75 BR-20-195 40.0 42.0 2.0 3.14 and 50.6 53.0 2.4 20.08 including 50.6 51.2 0.6 74.40 BR-20-196 87.2 88.1 0.9 2.44 and 93.9 96.6 2.7 2.23 BR-20-197 118.5 122.0 3.5 1.42 and 130.5 133.0 2.5 4.26 including 130.5 131.0 0.5 18.70 BR-20-198 79.8 80.4 0.6 5.60 BR-20-199 51.5 52.1 0.6 0.95 BR-20-200 80.0 82.0 2.0 1.00 and 100.0 104.5 4.5 4.73 including 100.0 101.0 1.0 20.10 BR-20-201 29.2 30.2 1.0 3.92 and 62.2 62.7 0.5 2.00 and 88.6 91.8 3.2 1.22 and 98.0 100.5 2.5 0.82 and 108.0 111.7 3.7 0.68 including 108.0 108.5 0.5 2.41 BR-20-202 119.0 119.5 0.5 1.51 BR-20-203 74.0 75.0 1.0 0.88 BR-20-204 82.0 83.0 1.0 0.74 and 137.0 138.0 1.0 2.99 BR-20-205 23.1 41.0 17.9 0.55 including 23.1 26.3 3.2 0.78 including 30.3 33.0 2.7 0.84 including 37.0 38.5 1.5 1.17 including 40.0 40.5 0.5 1.61 and 47.0 47.5 0.5 1.77 and 63.9 64.4 0.5 4.10 BR-20-208 26.9 29.2 2.3 1.82 and 36.0 39.5 3.5 0.78 and 60.8 62.5 1.7 0.71 and 75.6 76.1 0.5 4.31 BR-20-212 153.0 154.0 1.0 10.90 BR-20-215 75.0 75.7 0.7 2.24 and 84.0 84.7 0.7 3.33 and 104.0 106.0 2.0 1.74 and 112.0 113.0 1.0 0.89 and 114.9 121.0 6.1 3.17 including 118.5 119.2 0.7 18.10
This news release has been reviewed and approved by Paul McNeill, PGeo, vice-president, exploration, with Anaconda Mining, a qualified person, under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
All samples and the resultant composites referred to in this release are collected using quality assurance/quality control protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, Nfld., for Au by fire assay (30 g) with an AA (atomic absorption) finish.
All assays in this press release are reported as fire assays only. For samples analyzing greater than 0.5 g/t Au via 30 g fire assay, these samples will be reanalyzed at Eastern Analytical Ltd. via total pulp metallics. For the total pulp metallics analysis, the entire sample is crushed to minus-10 mesh and pulverized to 95 per cent minus-150 mesh. The total sample is then weighed and screened to 150 mesh. The plus-150-mesh fraction is fire assayed for Au, and a 30 g subsample of the minus-150-mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Total pulp metallics assays for drill holes sited within this press release will be updated in a future news release.
Roscan Gold receives $1.99M from warrant exercise
Further to its news release of Nov. 17, 2020, Roscan Gold Corp. has received additional proceeds of $1,990,640 from the exercise of warrants. The company has increased its drill fleet to six with an additional diamond drill (1,400-metre depth potential) in January, 2021, to adequately test all targets and their respective depth potential and dimension.Read More
During 2020, the company has received total proceeds of $11,649,385 from the exercise of 72.3 million warrants and 26.9 million warrants remain outstanding. Of the outstanding warrants, 25.5 million are currently in-the-money, which, if exercised, would result in the company receiving an additional $4.7-million, at an average exercise price of 19 cents in 2021.
Of the 26.9 million warrants outstanding, 11 million warrants are held by four of the company’s largest and most supportive shareholders for proceeds of $1.8-million.
The use of proceeds will be to finance the company’s exploration program on its highly prospective project in west Mali and for general corporate and working capital purposes. With the recent three new discoveries, and the company’s flagship Southern Mankouke discovery, at its Kandiole project, the addition of a sixth drill will accelerate its ability in understanding the depth and dimensions of the mineralization on multiple targets.
Nana Sangmuah, president and chief executive officer, stated: “We are very excited to start 2021 on a positive note as a follow-up to our 2020 success. The early exercise of warrants provides sufficient funds to ensure a well-financed exploration drill program for 2021 which should generate ample news flow. We look forward to providing additional updates and reporting results from our exploration activities in the coming weeks. The addition of the diamond drill with potential to drill to 1,400 m vertical depth will aid us to actively understand the depth potential in fresh rock of our targets and our flagship project. This is a key milestone for us to embark on confirming depth potential in the mineralization.”
GR Silver drills 83 m of 420 g/t AgEq at Plomosas
GR Silver Mining Ltd. has provided wide and high-grade drill results from the company’s underground core drilling program in the Plomosas mine area, as well as validation sampling results from historic drilling, at its 100-per-cent-owned Plomosas silver project in Sinaloa, Mexico.Read More
The underground drilling program is targeting bulk-tonnage-style mineralization in the Plomosas mine area (following the company’s recent discovery at level 775, approximately 250 metres below surface) aiming to delineate high-margin precious and base metals mineralization with potential for large tonnage and scalability.
The successful underground exploration drilling program at the Plomosas mine area has discovered extensions to the wide mineralization previously sampled at level 775, both below, and laterally to, previously mined areas. The mineralization is represented by thick intercepts of gold-silver-lead-zinc-copper mineralization hosted in a series of hydrothermal breccias.
Drill intercept highlights from recently completed hole PLI20-042 include (see also attached table):
- 83.0 m at 420 grams per tonne AgEq (silver equivalent) (2.52 g/t Au, 33 g/t Ag, 0.9 per cent Pb, 2.9 per cent Zn and 0.3 per cent Cu, from 98.0 to 181.0 m), including:
- 4.0 m at 1,319 g/t AgEq (9.35 g/t Au, 38 g/t Ag, 0.4 per cent Pb, 10.5 per cent Zn and 0.3 per cent Cu);
- 11.0 m at 1,596 g/t AgEq (9.41 g/t Au, 135 g/t Ag, 5.7 per cent Pb, 9.8 per cent Zn and 0.5 per cent Cu).
(1) AgEq is based on long-term gold, silver, zinc, lead and copper prices of $1,600 (U.S.) per ounce gold, $16.50 (U.S.) per ounce silver, 85 U.S. cents per pound zinc, 95 U.S. cents per pound lead and $3 (U.S.) per pound copper. The metallurgical recoveries are assumed as 90 per cent Ag, 95 per cent Au, 78 per cent Pb, 70 per cent Zn and 70 per cent Cu.
(2) As final interpretation of the 3-D orientation of mineralization is incomplete, true widths are unknown at this time and are reported as drilled widths.
Two oriented underground core drill holes (PLI20-03, PLI20-04), drilled by GR Silver Mining, have provided important geological, structural and mineralization data, thus aiding the interpretation of these wide, high-grade zones. These data are assisting in the investigation of additional broad zones of sulphide-rich (sphalerite, galena and chalcopyrite) mineralization hosted in structurally controlled hydrothermal breccias in the Plomosas mine area.
Four historic underground drill holes (PLI17-05, PLI17-08, PLI17-15 and PLI17-16), located nearby, were also validated with new sampling by GR Silver Mining. All data and additional new sample results are being incorporated into a 3-D geological model.
GR Silver Mining president and chief executive officer Marcio Fonseca commented: “These are extraordinary drilling results from the Plomosas mine area, indicating potential for size and scalability in the geological model to host attractive precious and base metals mineralization in areas close to existing underground development. We will continue with underground drilling in the vicinity of this polymetallic mineralization in 2021 and will also apply the technical knowledge to look for similar mineralization in other targets in the Plomosas silver project.”
The drill hole PLI20-04 represents a 25 m stepout from the previously released high-grade discovery at the deepest level (775 m RL) of the Plomosas mine area (see news release dated Sep. 28, 2020). The stepout area displays an intersection of two fault systems: the low-angle north-south-trending Plomosas fault and high-angle northeast-oriented faults (see cross-section 2551950N).
The wide mineralized zone mainly comprises high-grade Au-Ag-Pb-Zn hydrothermal breccia, with late disseminated chalcopyrite-(Cu)-pyrite-rich veins/veinlets. A pervasive chalcopyrite-pyrite quartz stockwork system is common not only on the footwall, but also on the hangingwall of the mineralized hydrothermal breccia. This system is apparently hosted by the two fault systems and also by specific geological units, oxidized andesites and andesitic tuffs, defining a prospective corridor along strike. A similar style of mineralization was recently mapped in the upper levels of the Plomosas mine area and is currently the subject of detailed exploration. Based on the recent underground drilling results, GR Silver Mining is continuing the investigation of all historical underground sampling in order to delineate new zones for drilling, aiming to incorporate all new areas in the upcoming National Instrument 43-101 resource estimation.
The attached tables summarize the most significant assay results for the underground drill holes reported in this news release.
UNDERGROUND DRILL HOLE RESULTS (PLOMOSAS MINE AREA) Hole No. Type From (m) To (m) Drilled width (m) Ag (g/t) Au (g/t) Pb (%) Zn (%) Cu (%) AgEq (g/t) PLI20-03 UG No significant assays PLI20-04 UG 98.0 181.0 83.0 33 2.52 0.9 2.9 0.3 420 includes 99.0 103.0 4.0 38 9.35 0.4 10.5 0.3 1,319 139.0 150.0 11.0 135 9.41 5.7 9.8 0.5 1,596
HISTORIC UNDERGROUND DRILL HOLE RESULTS (PLOMOSAS MINE AREA) Hole No. Type From (m) To (m) Drilled width (m) Ag (g/t) Au (g/t) Pb (%) Zn (%) Cu (%) AgEq (g/t) PLI17-05 UG 120.0 125.0 5.0 58 NA NA NA NA PLI17-08 UG 80.0 98.7 18.7 31 0.21 1.5 1.6 NA 152 includes 91.0 95.6 4.6 88 0.73 5.8 5.3 0.1 512 PLI17-15 UG 0.0 41.1 41.1 14 0.35 1.5 2.8 NA 180 PLI17-16 UG 0.0 32.1 32.1 6 0.39 1.9 1.9 NA As final interpretation of the 3-D orientation of mineralization is incomplete, true widths are unknown at this time and are reported as drilled widths. AgEq is based on long-term gold, silver, zinc and lead prices of $1,600 (U.S.) per ounce gold, $16.50 (U.S.) per ounce silver, 85 U.S. cents per pound zinc, 95 U.S. cents per pound lead and $2 (U.S.) per pound copper. The metallurgical recoveries are assumed as 90 per cent Ag, 95 per cent Au, 78 per cent Pb, 70 per cent Zn and 70 per cent Cu. NA is no relevant assays. All numbers are rounded. Results are uncut and undiluted. UG: is underground drill hole, SURF is surface drill hole.
GR Silver Mining believes that the Plomosas mine area is part of a much larger low sulphidation epithermal system as indicated by field evidence along one kilometre of strike length, where only 400 m of that strike had previously been drilled. The 2020 underground and surface exploration program defined multiple styles of mineralization, creating an opportunity for the company to continue discovering new mineralized zones close to the surface.
The scientific and technical data contained in this news release related to the Plomosas project were reviewed and/or prepared under the supervision of Marcio Fonseca, PGeo. He has approved the disclosure herein.
Quality assurance program and quality control procedures (QA/QC)
The company has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de Mexico SA de CV laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag of over 100 parts per million (overlimits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc. at Burnaby, B.C. The analytical methods are four-acid digest and inductively coupled plasma optical emission spectrometry with lead fusion fire assay with gravimetric finish for silver above overlimits. For gold assays the analytical methods are lead fusion and atomic absorption spectrometry lead fusion fire assay and gravimetric finish for gold above overlimits.
The recent drill holes, completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed by an independent laboratory at SGS de Mexico SA de CV facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised fire assay with atomic absorption finish for samples above Au over 10 ppm and Ag over 300 ppm and gravimetric finish. Pb and Zn were analyzed using inductively coupled plasma optical emission spectrometry. GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay protocols, and at this stage is considering the information historic for news release purposes.
About GR Silver Mining Ltd.
GR Silver Mining is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario mining district, Sinaloa, Mexico.
Plomosas silver project
GR Silver Mining owns 100 per cent of the Plomosas silver project located near the historic mining village of La Rastra, within the Rosario mining district. The project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated a 600-tonne-per-day crush milling flotation circuit from 1986 to 2001, producing approximately eight million ounces of silver, 73 million pounds of lead and 28 million pounds of zinc.
The project has an 8,515-hectare property position and is strategically located within five km of the company’s San Marcial silver project in the southeast of Sinaloa state, Mexico.
The March, 2020, acquisition of the Plomosas silver project included 563 historical and recent drill holes from both surface and underground locations. These drill holes represent an extensive database allowing the company to advance toward resource estimation and potential project development in the near future.
The company has commenced an 11,900 m drilling program with surface holes focused on expanding known mineralization along strike in two initial areas, the Plomosas mine area and the San Juan area. Underground drilling included in the program will target the extension of recent polymetallic discoveries at the lowest level (775 m RL, or about 250 m below surface) of the Plomosas mine area and six low sulphidation epithermal veins at San Juan area. Both areas will be the subject of NI 43-101 resource estimations following completion of this drill program.
The 100-per-cent-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km — 33-kilovolt power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately $30-million (U.S.) of previous capital investments. The previous owners invested approximately $18-million (U.S.) in exploration, including extensive geophysics and geochemistry programs.
The silver and gold mineralization on this project displays the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in northwest-southeast structures in the vicinity of the Plomosas mine. The east-west portion of the mineralization and extensions for the main north-south Plomosas fault remain underexplored.
In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession has defined 16 new exploration targets from which 11 have high priority for future exploration programs.
San Marcial project
San Marcial is a near-surface, high-grade silver-lead-zinc open-pit-amenable project, which contains a 36-million-ounce AgEq (indicated) and 11 million oz AgEq (inferred) NI 43-101 resource estimate. The company recently completed over 320 m of underground development in the San Marcial resource area, from which underground drilling is planned to expand the high-grade portions of the resource down dip. The company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial project — resource estimation and technical report) was completed by WSP Canada Inc. on March 18, 2019, and amended on June 10, 2020.
Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource.
Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas mining district which has historically produced more than 600 million oz silver and 11 million oz gold over a period of more than 100 years.
Amerigo hires Harbor Access for investor relations
Amerigo Resources Ltd. has appointed Harbor Access LLC to provide external investor relations services to Amerigo.Read More
Harbor Access is an investor relations and investor access firm representing and advising micro- to mega-market cap companies, with a collective over 75 years of direct capital market experience.
“We are excited to work with Aurora and Amerigo as the company has a unique story that we believe will resonate with our international institutional investor network. Based on the hard work and success of Amerigo coupled with a renewed interest in the resources sector, Amerigo is poised to gain the attention of new investors and realize its true value,” stated Jonathan Paterson, managing partner, Harbor Access.
Amerigo’s president and chief executive officer, Aurora Davidson, stated: “I firmly believe that we are in the early stages of a bull cycle for copper. Against this backdrop, this is the perfect time to bolster our investor relations efforts and ensure best-in-class practices to drive shareholder value.”
EnCore closes acquisitions of Westwater’s U.S. U assets
Effective Dec. 31, 2020, as described in the Sept. 1, 2020, binding letter of intent, EnCore Energy Corp. has executed a share purchase agreement with Westwater Resources Inc. to acquire all of Westwater’s United States uranium assets. The terms of that agreement were completed and the transaction was closed on Dec. 31, 2020. The assets include two licensed Texas-based in situ recovery uranium production facilities, significant given there are only 11 ISR production facilities in the U.S. Other assets included are mineral exploration leases in Texas, and more than 270 square miles (180,000 acres) of deeded mineral rights in New Mexico with four projects containing significant historical resources. This acquisition more than double the company’s current mineral rights and historical resource holdings, and adds two already licensed uranium production facilities.Read More
William M. Sheriff, executive chairman of EnCore Energy, stated: “This transformational acquisition is the first significant step to build EnCore into a domestic uranium producer. Our experienced and accomplished management team believes that a major change is coming in the uranium market in the next 12 to 24 months. The recent impressive strength in the uranium equity market is evidence of a broader realization within the financial community of the early changes in the dynamics of the uranium market. In addition to the key acquisition of licensed production facilities in Texas, EnCore will hold the leading land position in New Mexico, consolidating the large Santa Fe and Frisco railroad ‘checkerboard’ mineral rights land grant running through most of the Grants mineral belt.”
“As market conditions continue to improve, we look forward to updating and preparing the Rosita, Tex., processing facility for commercial uranium production and restarting uranium production in one of the most favourable uranium districts in the United States. These licensed production facilities have demonstrated histories of lower-cost uranium production, and they are in a local region with known historic uranium resources,” added EnCore Energy’s chief executive officer, W. Paul Goranson. “We believe the timing of this acquisition coincides with dramatic changes in the supply-demand balance in the global uranium markets as several major primary uranium production centres have either significantly curtailed production due to market conditions or are being closed all together. At the same time, the U.S. government has taken several actions to support domestic uranium production, including funding of the Uranium Reserve, codifying in statute the terms of the recently amended Russian suspension agreement, and funding the start of a domestic nuclear fuel cycle to support the advancement of advanced reactor designs and small modular reactors.”
The Texas production assets
Two licensed Texas uranium production facilities have been acquired: the Kingsville plant in Kleberg, Tex., and the Rosita plant in Duval, Tex. These are two of only 11 licensed and constructed ISR production facilities in the U.S. Both facilities were established to process ion-exchange resin from multiple satellite facilities. Each facility currently has an operating capacity of 800,000 pounds of triuranium octoxide per year, and the ability to expand that capacity, if needed. The package also includes several key mineralized leaseholds with excellent exploration potential and historic resources, an extensive Texas database, and key equipment including PFN (prompt fission neutron) logging trucks, resin transfer trucks and remote ion-exchange facilities.
New Mexico assets
The Westwater acquisition, combined with EnCore’s already existing large New Mexico holdings, make EnCore the dominant holder of high-quality uranium properties in New Mexico. The New Mexico assets in the transaction include more than 175,000 acres of deeded mineral estate (formerly the Santa Fe railroad checkerboard land grant), 4,200 acres of surface and/or mineral leases, and 1,200 acres of mining claims, encompassing much of the uranium-rich Grants mineral belt, as well as an extensive and comprehensive database. Properties being acquired with significant in place historic uranium resources include the Nose Rock, West Largo and Ambrosia Lake projects in McKinley county and the Juan Tafoya project in Cibola, McKinley and Sandoval counties.
Historic estimates on (a) Ambrosia Lake used the circle tangent method and cut-off grades ranging from 0.03 per cent to 0.1 per cent over variable intervals and on a per-section basis; (b) Juan Tafoya use the d-polygonal method and a cut-off grade of 0.05 per cent over a six-foot interval; (c) West Largo did not include a cut-off grade and used a general outline method described by the U.S. Atomic Energy Commission; and (d) Nose Rock used polygonal method and a cut-off grade of 0.07 per cent over a six-foot interval. Although these historical estimates are believed to have been calculated and completed to industry standards at the time of their publication, and are considered reliable based on such standards, a qualified person has not done sufficient work to classify any of the historic estimates listed herein as current mineral resource estimates. Current definitions of measured, indicated and inferred resources have changed since the date of the report and the impact of those changes on historical estimates has not been assessed by the company. Additional work, including review of existing exploration data and additional drilling, is required to update the historical estimate to a current mineral resource. The company does not treat these historical estimates as current mineral resource estimates and they should not be relied upon.
Located in New Mexico, the Grants mineral belt is an approximately 100-mile-long northwesterly trending belt of sandstone-hosted uranium deposits that have been the largest source of uranium production in the U.S. During the period of mining activity in the Grants mineral belt, between the early 1950s and the mid-2000s, more than 80 underground and open-pit mines were developed and operated. At various times during the past productive life of the belt, as many as six uranium processing mills were built and operated by Anaconda Co., Homestake Mining Co., Kerr-McGee, Phillips Petroleum, Sohio, Western Nuclear and United Nuclear. For perspective, the Grants mineral belt has yielded more uranium than any other district in the U.S. — about 340 million pounds of uranium oxide. The reported remaining identified resources have been estimated at 409 million pounds of uranium oxide and are greater than for any other U.S. uranium-bearing district.
Terms of the transaction
Pursuant to the agreement, the company has acquired seven Westwater subsidiaries, holding all of Westwater’s U.S. uranium assets, in exchange for 2,571,598 common shares issues for a total value of $1,795,000 (U.S.) and the grant of a 2-per-cent net smelter return royalty on mineral rights held by the subsidiaries in New Mexico, excluding the Juan Tafoya and Cebolleta projects, which retain a 2.5-per-cent net profits interest.
As provided in the binding letter of intent, the company and Westwater worked to reduce the liability carried under the existing reclamation bonds, and, for meeting specific milestones, the company would pay Westwater $500,000 (U.S.) in company shares. Westwater made significant progress toward completing those milestones, but, due to conditions related to the COVID-19 pandemic, only partially completed the milestones. The company and Westwater agreed to reduce the payment for this work to $345,000 (U.S.) in company shares (included in the total share issuance) in recognition of the work accomplished, which is included in the issuance of common shares.
The company assumed the existing reclamation bonds on Westwater’s uranium projects totalling approximately $9.25-million (U.S.). The company retained $3-million (U.S.) of the cash collateral supporting these reclamation bonds with Westwater receiving $742,642 (U.S.) of the cash collateral at closing. No other payments were made for reclamation work and reclamation bond reduction.
Dr. Douglas H. Underhill, CPG, a qualified person as defined by National Instrument 43-101 and chief geologist for the company, has reviewed, verified and approved disclosure of the technical information contained in this news release.
Aquila Resources loses wetlands permit for Back Forty
On Jan.4, 2021, an administrative law judge for the Michigan Office of Administrative Hearings and Rules issued a decision denying the prior issuance of a wetland/stream/floodplain permit for Aquila Resources Inc.’s Back Forty project in Michigan.Read More
By way of background, petitioners earlier filed an administrative contested case challenge to the issuance of the wetlands permit by the Michigan Department of Environment, Great Lakes, and Energy. The wetlands permit was issued by EGLE on June 4, 2018, following years of environmental baseline work and a thorough review process including comment periods and public hearings. The judge convened an evidentiary hearing in June, 2019, which ended in January, 2020. In his Jan. 4, 2021, decision, the judge determined that Aquila’s groundwater model does not provide a reliable identification of wetland impacts and therefore found the permit application to be administratively incomplete. The judge also determined that Aquila did not provide a complete assessment of potential alternatives to its proposed plan.
The company strongly disagrees with the judge’s decision, which is based in significant part on what the company believes is a misunderstanding of the information concerning the potential for indirect wetlands impacts associated with the Back Forty project. The decision establishes a permitting approach that markedly departs from wetland permits issued for other mining projects in the Great Lakes region. Aquila worked for several years with EGLE staff during the permitting process to address the complex technical issues associated with estimating potential indirect wetland impacts, landing on an approach that complied with federal U.S. Army Corps guidelines for estimating and permitting such impacts for mining projects.
The wetlands permit was issued with specific conditions that must be satisfied prior to the commencement of construction and operations, including a condition that required EGLE to accept an updated groundwater model. During the 31 months since the wetlands permit was issued, Aquila has been working constructively with EGLE to satisfy the conditions, and the company planned to complete the updated groundwater model in 2021. The company will continue to work with EGLE and believes it will successfully resolve the issues cited in the judge’s decision.
Barry Hildred, president and chief executive officer of Aquila, commented: “Obviously, we are disappointed by the judge’s decision. The company is evaluating its alternatives, which include the submission of an updated permit application or appealing the decision to the EGLE environmental review panel. Aquila has worked diligently to limit impacts to surrounding wetlands and is only directly impacting 11.2 acres of regulated wetlands. Having reviewed the decision, we believe that Aquila will be able to resolve the cited issues and remain confident that Back Forty will be a safe, disciplined operation that promotes and supports local community socio-economic development and is protective of the environment.”
Michigan state circuit court dismisses challenge to Back Forty mining permit
On Dec. 22, 2020, the Ingham county circuit court in the state of Michigan upheld the final decision of EGLE to issue the Back Forty mining permit after a lengthy contested case hearing initiated by two petitioners. Subsequent to its issuance by EGLE, the mining permit was upheld by the judge and an environmental review panel made up of technical experts from various fields.
The mining permit is one of four foundational state permits required for the commencement of construction and operations at Back Forty. In addition to the mining permit, regulators in Michigan have previously granted an air permit, wetlands permit and a water discharge permit for the Back Forty project.
Namibia Critical drills 7 m of 0.58% TREO at Lofdal
Namibia Critical Metals Inc. has provided an update with further drill results from the Area 2B satellite deposit on the Lofdal heavy rare earth project in northern Namibia. Lofdal is a joint venture between the company and Japan Oil, Gas and Metals National Corp. (JOGMEC) which is operating under a term 1 budget of $4.1-million (company press release dated Sept. 21, 2020). Since the company’s previous update (Nov. 26, 2020), progress highlights are summarized as follows:Read More
- Additional drill results from Area 2B satellite deposit confirm multiple dysprosium zones to 190 vertical metres.
- Results of 13 additional holes include three metres (m) of 0.84 per cent total rare earth oxide (TREO) with 450 parts per million (ppm) dysprosium oxide (Dy2O3), seven m of 0.58 per cent TREO with 280 ppm Dy2O3 and seven m of 0.26 per cent TREO with 226 ppm Dy2O3 (which includes the highest-grade one-metre intercept of 1,123 ppm Dy2O3).
- Area 2B deposit remains open along strike and at depth. Nine drill holes are pending analyses.
- Area 4 resource drilling program was successfully completed with established strike length of 1,125 metres. Thirty-three drill holes are pending analyses.
- Notice of preparedness to grant application for mining licence was received from the Ministry of Mines and Energy.
Don Burton, president of Namibia Critical Metals, stated: “Prices for dysprosium and terbium oxides continue to strengthen with dysprosium approaching $300 (U.S.) per kg and terbium surpassing $1,100 (U.S.) per kg. Continuing positive drill results from Area 2B are confirming the importance of this satellite deposit to add additional heavy rare earth mineral resources to the project. All term 1 drilling has been completed and we look forward to receiving results from the remaining 42 holes in Area 2B and Area 4. The company has received notice of preparedness to grant the application for a mining licence for Lofdal from the Ministry of Mines and Energy, which is a very significant milestone. The company has lodged its acceptance of the mining licence and we await finalization of the process from the ministry.”
Area 2B drill results
Drilling in the term 1 program has focused on doubling the size of the existing Area 4 resource and, following the injection of an additional $1.1-million to the term 1 budget (company press release dated Sept. 12, 2020), the decision was taken to add Area 2B to the planned National Instrument 43-101 update. Area 2B is located three kilometres northwest of Area 4. Mineralization at Area 2B is similar to Area 4 with stacked dysprosium zones ranging from two to 15 metres in thickness. The 2020 drill program at Area 2B totalled 4,400 metres in 29 diamond drill holes. Results from the first seven holes in the current drill program were reported on Nov. 26, 2020, and this update provides results from an additional 13 holes. Nine holes remain to be reported for inclusion in the resource estimation.
Highlights of dysprosium enriched zones reported today include:
- Eight m of 0.29 per cent TREO with 185 ppm Dy2O3 and 60.3-per-cent heavy rare earth enrichment in L2BD0035 (including one metre of 0.57 per cent TREO with 452 ppm Dy2O3 and 80.1-per-cent heavy rare earth enrichment);
- Seven m of 0.26 per cent TREO with 226 ppm Dy2O3 and 77.2-per-cent heavy rare earth enrichment in L2BD0044 (including one metre of 1.24 per cent TREO with 1,123 ppm Dy2O3 and 91.1-per-cent heavy rare earth enrichment);
- Seven m of 0.58 per cent TREO with 280 ppm Dy2O3 and 49.9-per-cent heavy rare earth enrichment in L2BD0046 (including two metres of 1.04 per cent TREO with 712 ppm Dy2O3 and 73.5-per-cent heavy rare earth enrichment);
- Three m of 0.84 per cent TREO with 450 ppm Dy2O3 and 57.6-per-cent heavy rare earth enrichment in L2BD0037 (including one metre of 0.90 per cent TREO with 808 ppm Dy2O3 and 98.1-per-cent heavy rare earth enrichment).
Details of all 13 reporting drill holes from Area 2B are provided in an attached table and a complete listing of all analytical results is provided in the other attached table. Intercept widths are reported as down-the-hole widths and are not necessarily true widths.
Drilling has now established a strike length of 300 metres for mineralization at Area 2B with multiple dysprosium zones defined on sections to a maximum vertical depth of 190 metres. The deposit remains open along strike to the northeast and to the southwest and at depth.
Completion of Area 4 drill program
As previously reported (company press release dated Nov. 26, 2020), the main objective of the Area 4 drilling program was to double the size of the current mineral resource.
The 2020 drill program has extended the strike length of the mineralized zone from 700 metres to 1,100 metres and the drilled depth from 180 to 225 vertical metres to 250 to 350 vertical metres. The total drilling program at Area 4 comprised 10,162 metres in 56 holes. Results from 33 holes remain pending.
The MSA Group of South Africa has been engaged to update the Area 4 resource, which will incorporate all the new drilling and is scheduled for delivery before March 31, 2021.
The Lofdal heavy rare earth project is located 450 kilometres northwest of the capital city of Windhoek in the Kunene region of northwestern Namibia. The project area covers 314 square kilometres centred on the Lofdal carbonatite complex which hosts a number of rare earth occurrences, including the Area 4 deposit and the Area 2B deposit. Mineralization in both deposits is dominated by xenotime, which is highly enriched in heavy rare earths.
Lofdal is unique as one of only two primary xenotime projects under development in the world, with the other project being Browns Range in Australia. As demonstrated in the preliminary economic assessment, Lofdal has the potential for significant production of dysprosium and terbium, the two most valuable heavy rare earths used in high-powered magnets. The joint venture with JOGMEC is driven by Lofdal’s potential to be a long-term, sustainable supply of heavy rare earths for Japan.
Field operations follow strict company standard operating procedures with regards to drilling practices, sampling procedures, security of transport and analytical procedures as per recommendations in the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) best practices guidelines (2018), which includes strict internal quality assurance and quality control procedures (QA/QC) for the insertion of blanks, standards and duplicates. QA/QC samples account for 10 per cent of samples submitted in each batch. Sample preparation and analytical work for the drilling program is being provided by Activation Laboratories Ltd., employing appropriate crushing and pulverization procedures (Actlabs code RX-1) on half sawn core samples provided from the selected intervals, utilizing lithium metaborate/tetraborate fusion and ICP-MS techniques suitable for rare earth element analyses (Actlabs code 8). Activation Laboratories is an ISO/IEC 17025 accredited laboratory.
Eloro Resources closes $6.32-million financing
Eloro Resources Ltd. has closed its previously announced bought deal financing, including the exercise in full of the overallotment option, of 4,080,660 units of the company at a price of $1.55 per unit for aggregate gross proceeds to the company of $6,325,023. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant is exercisable to acquire one common share at a price per warrant share of $2 for a period of 24 months from the closing date of the offering.Read More
The offering was underwritten on a bought deal basis by a syndicate of underwriters led by Haywood Securities Inc. and including Echelon Wealth Partners Inc.
The company intends to use the majority of the net proceeds from the offering for continued exploration of the company’s Iska Iska project in Bolivia.
In connection with the offering, the underwriters received a cash commission equal to 7.0 per cent of the gross proceeds of the offering and that number of non-transferable compensation options equal to 7.0 per cent of the aggregate number of units sold under the offering. Each compensation option is exercisable into one common share at the issue price for a period of 24 months from the closing date of the offering.
Euro Sun Mining elects Vukanovich chairman
Euro Sun Mining Inc.’s board of directors has elected Peter Vukanovich as non-executive chair of Euro Sun Mining. Mr. Vukanovich is an entrepreneurial leader and experienced corporate board member. He joined the ESM board of directors in July, 2020. He currently leads PMV Consulting Inc., a company which provides advisory services to financial services and real estate technology clients. He is also on the board of Toronto Stock Exchange-listed Real Matters Inc.Read More
Mr. Vukanovich has held senior executive roles during his career including Genworth Financial Canada/GE Capital Mortgage Insurance, CFF Bank and Teranet Inc. He is a chartered professional accountant, holds a bachelor of commerce degree from the University of Toronto and has been a member of numerous not-for-profit boards and advisory committees.
G. Scott Moore, president and chief executive officer stated: “We are pleased to have Peter become our independent chairman. His appointment further highlights the company’s approach to continuous improvement in corporate governance.”
The company and its key engineering consultants continue to make progress toward completion of the definitive feasibility study (DFS) for the Rovina Valley project as well as submittals to support ESM’s required permitting path for construction.
During this quarter, the COVID-19 global pandemic has made it more difficult to finalize the DFS. The company now expects completion of the definitive feasibility study during the first quarter of 2021. Euro Sun continues to progress all permitting for the project in a timely manner and in conjunction with all Romanian laws.
Mr. Moore also stated: “During this global pandemic our team at Rovina has been challenged with the ever-evolving restrictions in Romania and elsewhere in the world and its impact on our progress at Rovina. They have done an outstanding job to keep all aspects of the project advancing and we endeavour to continue our efforts towards a successful outcome.
“While the gold price has performed well since our PEA of 2019, we would like to highlight that copper prices are trending higher and should have a positive impact on the DFS given the large size and highly recoverable nature of copper in the Colnic and Rovina deposits.”
Kincora Copper to roll back shares 1:3 effective Jan. 8
Following shareholder and TSX Venture Exchange approvals, Kincora Copper Ltd. has consolidated its issued and outstanding share capital on the basis of one postconsolidation share for each three preconsolidation common shares. No fractional shares will be issued under the consolidation, and any fraction will be rounded down to the nearest whole number.Read More
Effective at the open on Friday, Jan. 8, 2021, the common shares of Kincora Copper will commence trading on TSX Venture Exchange on the consolidated basis.
In connection with the consolidation, the name of the company will not change and the company’s trading symbol will remain as KCC.
Postconsolidation capitalization: unlimited shares with no par value, of which 69,386,944 shares are issued and outstanding
Escrow: nil shares are subject to escrow
Transfer agent: Computershare Trust Company of Canada
Trading symbol: KCC (unchanged)
Cusip No.: 49451A603 (new)
IsoEnergy 2,702,703-share private placement
The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced Dec. 2, 2020.Read More
Number of shares: 2,702,703 shares
Purchase price: $1.48 per share
Agent’s fee: Haywood Securities Inc., $240,000 cash and 162,162 broker warrants (Each non-transferable broker warrant is exercisable into one common share at a price of $1.48 for a period of two years.)
Regulus Resources 4,217,452 warrants extended
The TSX Venture Exchange has consented to the extension in the expiry date of the following warrants.Read More
Number of warrants: 4,217,452
Original expiry date of warrants: Jan. 27, 2021
New expiry date of warrants: July 27, 2021
Exercise price of warrants: $1.60
These warrants were issued pursuant to a private placement of 11,962,500 units, with 5,981,235 share purchase warrants attached, which was accepted for filing by the exchange effective on Aug. 12, 2016.
Ynvisible 12,857,142-share private placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 30, 2020.Read More
Number of shares: 12,857,142 shares
Purchase price: 35 cents per share
Warrants: 4,285,691 share purchase warrants to purchase 4,285,691 shares
Warrant exercise price: 50 cents for an 18-month period, subject to acceleration
Number of placees: 59 placees
Total pro group involvement: 390,000 (five placees)
Finders’ fees: Accent Capital GmbH (Joerg Schweizer) receives 75,000 units with terms as above. Anders Nerell receives 374,712 units with terms as above. Canaccord Genuity Corp. receives $23,100 Georg Hochwimmer receives 2,568 units with terms as above. Gravitas Securities Inc. receives $2,100. Haywood Securities Inc. receives $3,150. Leede Jones Gable Inc. receives $20,580. PI Financial Corp. receives $13,650.