Roscan Gold drills 30 m of 2.96 g/t Au at Kabaya
Roscan Gold Corp. has released positive diamond and RC drill results from 23 holes totalling 4,158 metres at its Kabaya target with multiple holes intersecting high gold grades over wide intervals. Drill hole DDDBS20-008 intersected 2.96 grams per tonne over 30 metres starting from surface. Drill hole DDDBS20-009 intersected 2.38 g/t gold over 20 m from 46 m. Drill hole DDDBS20-006 intersected 2.66 g/t over 17 m from 166.2 m and hole DDDBS20-14 ended in gold mineralization at 247.2 m depth.
Read MoreKabaya — DD (diamond) plus RC (reverse circulation) drilling highlights:
- 10.6 g/t gold over three m from drill hole DDDBS20-003 from 84.6 m:
- Including 24.6 g/t gold over one m from 84.6 m;
- And 1.64 g/t gold over nine m from drill hole DDDBS20-003 from 57.8 m;
- 3.09 g/t gold over 9.3 m from drill hole DDDBS20-015 from zero m:
- Including 8.73 g/t gold over two m from 4.3 m;
- 2.96 g/t gold over 30 m from drill hole DDDBS20-008 from zero m:
- Including 11.7 g/t gold over two m from 26 m;
- And 1.54 g/t gold over 15 m from drill hole DDDBS20-008 from 34 m;
- 2.66 g/t gold over 17 m from drill hole DDDBS20-006 from 166.2 m:
- Including 7.45 g/t gold over two m from 171.2 m;
- And 1.07 g/t gold over 15 m from drill hole DDDBS20-006 from 143.2 m;
- 2.38 g/t gold over 20 m from drill hole DDDBS20-009 from 46 m:
- Including 11.9 g/t gold over one m from 64 m;
- 1.93 g/t gold over seven m from drill hole DDDBS20-014 from 233.2 m;
- 1.71 g/t gold over 13 m from drill hole DDDBS20-010 from zero m;
- 1.65 g/t gold over nine m from drill hole RCDBS20-06 from 74 m;
- 1.47 g/t gold over 21 m from drill hole RCDBS20-005 from 109 m:
- And 0.79 g/t gold over 16 m from drill hole RCDBS20-005 from 90 m;
- 1.28 g/t gold over 18 m from drill hole RCDBS20-002 from 141 m.
Since acquiring Kabaya in June, 2020, all 23 holes drilled intersected gold mineralization, which reflects a 100-per-cent drill success rate. The Kayaba deposit has a pit-constrained mineral resource to a depth of 58 m, which contains 105,000 ounces of indicated resource and 35,000 ounces of inferred resource. The company has now established mineralization to a depth of 196 m, which remains open.
Classification Tonnage Au Ounces
(mt) (g/t) (koz)
Indicated 3.17 1.03 105
Inferred 0.96 1.14 35
Pit constraint mineral resource:
- Effective date for resources is Jan. 7, 2019.
- The independent qualified person for this resources estimate is Yann Camus, Eng, SGS Canada Inc.
- The mineral resources are presented at a 0.4 g/t Au cut-off grade in pits.
- The resources are presented without dilution.
- Whittle pits have been utilized based on a gold value of $1,350 (U.S.)/ounce.
- Mineral resources that are not mineral reserves do not have demonstrated economic viability.
- No economic evaluation of the resources has been produced.
- This resource estimate has been prepared in accordance with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) definitions (2014).
- Density used is 1.7 based on measurements and similar projects.
- Capping grade is of 30 g/t Au on original assays.
Based on the disclosure of National Instrument 43-101, Section 2.4:
- The source is Komet’s NI 43-101 that is effective Jan. 7, 2019.
- The company considers the reliably and relevance to be reasonable.
- The key assumptions are listed above.
- The categories are similar.
- There are no recent estimates.
Exciting results from hole DDDBS20-014, which intersected 1.93 g/t gold over seven m from 233.2 m and ended in gold mineralization at 247.2 m, has reinforced the need for even deeper drilling. The recent addition of the company’s sixth rig, which has a maximum depth drilling capability of 1,400 m, will greatly facilitate this deeper drilling (see news release dated Jan. 5, 2021). The Kabaya deposit remains open at depth and along strike and has become another priority target for follow-up drilling in 2021.
Roscan believes that the Kabaya deposit is part of a significant structural corridor which spans from Oklo Resources discoveries of Seko and Disse, to the northeast of the company’s land package and then extends for 22 kilometres on the company’s property, from Kabaya to the company’s recent Kandiole North discovery (KN2) and onto the company’s recently acquired Mankouke West land package, which shows a strong magnetic signature similar to the other discoveries on this corridor. Much of this 22 km corridor has yet to be tested and thus Roscan feels that the potential for new discoveries in this corridor is excellent and connecting these multiple targets via stepout drilling will be a key priority in 2021.
Nana Sangmuah, president and chief executive officer, stated: “These are very exciting times for the company as we continue our success rate with additional positive results at Kabaya. These results demonstrate the potential of the magnetic structure in the corridor that extends for 22 km from Kabaya to our newly acquired Mankouke West target. This is one of five major trends of gold mineralization on our property and we will continue to aggressively drill to build ounces on these targets in 2021.
“Since acquiring Kabaya in 2020, we have extended the average depth of mineralization from 58 m to a vertical depth of 196 metres. Importantly, hole DDDBS20-014 our deepest intercept to date, ended in gold mineralization and remains open. This projected depth potential in gold mineralization and fresh rock will be another high priority for the company. The drilling results, to date, have shown the potential to significantly increase the size of the gold occurrence at Kabaya.”
The gold mineralization at Kabaya is associated with albite-dolomite-pyrite alteration in greywackes and diamictites of the Kofi formation. The alteration observed in the core indicates a strong hydrothermal system commonly associated with gold deposits in this area.
Drilling contract and analytical protocol
The drilling was performed by Geodrill, which employs multipurpose (AC/RC/DD) rigs and AC rigs at the Kandiole project. The AC drilling is mainly focused on drilling exploration targets.
The diamond core and RC samples are sent for preparation to Bureau Veritas Mineral Laboratories in Bamako, Mali, and assayed at its analytical facilities in Bamako and in Abidjan, Ivory Coast, with fire assay with atomic absorption finish and by gravimetric finish for grades above 10 g/t Au.
Roscan applied industry-standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates are inserted at appropriate intervals.
DRILL HOLE HIGHLIGHTS AT KABAYA DEPOSIT (JAN. 18, 2021)
Hole ID From To Interval Au
(m) (m) (m) (g/t)
DDDBS20-001 5 8 3 0.84
88 89 1 0.75
193 194 1 1.97
DDDBS20-002 40 43 3 3.95
47 50 3 1.02
58 59 1 0.51
66 69 3 1.36
72 76 4 0.73
79 81 2 1.00
92 94 2 1.58
121 122 1 6.02
133 135 2 2.71
154 169 15 0.79
DDDBS20-003 0 0.8 0.8 1.25
57.8 66.8 9 1.64
70.8 72.8 2 0.90
76.6 78.6 2 0.78
84.6 87.6 3 10.6
including 84.6 85.6 1 24.6
91.6 92.6 1 0.53
96.6 98.6 2 1.96
104.6 108.6 4 0.78
123.6 124.6 1 0.59
RCDBS20-001 0 6 6 0.57
64 78 14 0.99
RCDBS20-002 127 129 2 3.20
133 138 5 1.57
141 159 18 1.28
RCDBS20-003 66 69 3 0.65
125 126 1 0.58
128 132 4 0.56
DDDBS20-004 118.3 119.3 1 0.55
141.3 142.3 1 0.62
146.3 147.3 1 0.57
DDDBS20-005 106.3 109.3 3 0.79
126.3 127.3 1 0.81
137.3 143.3 6 0.57
150.3 151.3 1 0.74
160.3 171.3 11 1.22
175.3 176.3 1 1.01
183.3 191.3 8 1.11
196.3 203.3 7 1.71
DDDBS20-006 53.2 56.2 3 1.02
59.2 60.2 1 0.67
116.2 118.2 2 1.22
122.2 124.2 2 0.80
143.2 158.2 15 1.07
162.2 163.2 1 2.28
166.2 183.2 17 2.66
including 171.2 173.2 2 7.45
199.2 200.2 1 0.76
DDDBS20-007 17 19 2 1.37
29 32 3 0.65
40 41 1 0.89
51 52 1 0.50
55 61 6 1.03
66 70 4 1.14
75 78 3 0.65
84 86 2 8.26
89.8 96.8 7 0.77
DDDBS20-008 0 30 30 2.96
including 26 28 2 11.7
34 49 15 1.54
58 62 4 0.72
66 67 1 1.26
93.8 95.8 2 2.20
118.8 119.8 1 0.74
DDDBS20-009 0 4 4 0.68
20 29 9 1.68
33 36 3 1.56
42 43 1 0.98
46 66 20 2.38
including 64 65 1 11.9
69.5 70.5 1 0.59
74.5 79.5 5 0.78
106.5 107.5 1 1.03
110.5 112.5 2 1.67
DDDBS20-010 0 13 13 1.71
18 21 3 2.16
24 25 1 0.90
38 39 1 0.64
DDDBS20-011 0 1 1 1.14
48 50 2 1.03
53 54 1 0.94
86 87 1 0.95
RCDBS20-004 41 42 1 3.83
60 63 3 1.01
78 79 1 2.89
RCDBS20-005 58 59 1 0.54
75 79 4 0.63
82 83 1 1.12
90 106 16 0.79
109 130 21 1.47
134 135 1 2.14
DDDBS20-012 139.4 140.9 1.5 0.52
157.1 158.1 1 0.52
181.1 182.1 1 1.10
205.1 206.3 1.2 0.92
DDDBS20-013 113.3 114.3 1 0.71
127.3 128.3 1 2.83
139.3 145.3 6 0.77
148.3 151.3 3 0.83
DDDBS20-014 151.2 152.2 1 0.51
160.2 170.2 10 1.19
173.2 174.2 1 0.60
180.2 185.2 5 0.87
188.2 195.2 7 0.69
207.2 211.2 4 0.63
215.2 222.2 7 0.84
225.2 229.2 4 0.68
233.2 240.2 7 1.93
245.2 247.2 2 0.70
DDDBS20-015 0 9.3 9.3 3.09
including 4.3 6.3 2 8.73
38.3 44.3 6 0.80
RCDBS20-06 38 39 1 0.63
42 44 2 1.29
47 54 7 0.85
57 58 1 0.72
67 71 4 1.00
74 83 9 1.65
RCDBS20-07 76 81 5 0.77
84 92 8 0.87
103 104 1 1.52
107 111 4 0.99
115 120 5 0.94
RCDBS20-08 100 101 1 1.72
Anaconda drills 14.5 m of 1.86 g/t Au at Goldboro
Anaconda Mining Inc. has released final drill results from its 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 of diamond drilling and was designed to convert priority inferred mineral resources to measured and indicated mineral resources of the Goldboro deposit as part of a mineral resource update anticipated for the first quarter of 2021 and as part of the continuing feasibility study.
Read MoreResults from the most recent drilling, comprising 2,148.2 metres from 15 diamond drill holes, all reflect near-surface targets (greater than 175 vertical metres) at both the West Goldbrook gold system and the Boston Richardson gold system. The drilling was focused on shallow levels of the deposit to further evaluate the opportunity for an expanded open-pit mining scenario, as identified through the continuing feasibility study. The results demonstrate continuity of mineralization within the infill drill areas at both the WG and BR gold systems in areas explored. A total of eight visible gold occurrences were observed in these drill holes.
Selected composited highlights (core length) from the drill program include:
- 1.86 grams per tonne gold over 14.5 metres (55.5 to 70.0 metres) and 2.78 g/t gold over 4.5 metres (44.0 to 48.5 metres) and 1.31 g/t gold over 5.5 metres (19.0 to 24.5 metres) in hole BR-20-221;
- 1.37 g/t gold over 21.5 metres (72.0 to 93.5 metres) including 26.80 g/t gold over 0.5 metre in hole BR-20-219;
- 2.08 g/t gold over 9.0 metres (130.0 to 139.0 metres) including 12.20 g/t gold over 1.0 metre in hole BR-20-216;
- 8.56 g/t gold over 2.0 metres (39.0 to 41.0 metres) including 16.70 g/t gold over 1.0 metre in hole BR-20-224;
- 2.66 g/t gold over 5.6 metres (121.2 to 126.8 metres) including 9.72 g/t gold over 0.8 metre in hole BR-20-210.
“Anaconda’s extensive infill drill program at its Goldboro gold project was very successful in infilling areas of priority inferred mineralization at shallow levels of the deposit. Importantly this was achieved while maintaining strong safety protocols given the ongoing impact of the global pandemic. Based on the positive drill results from this program, we are confident as we progress towards the announcement of a mineral resource update in Q1 2021, which, together with advanced metallurgical work, will allow us to complete detailed pit design to support a potential expanded surface mining operation using conventional open-pit mining methods. In addition, as part of the ongoing mineral resource evaluation, we have recognized additional opportunity, within the central portions of the deposit, to convert further inferred mineral resources to indicated and measured categories, potentially further expanding surface mining potential at Goldboro. We plan further drilling in the near term to unlock the value recognized in these specific areas of the deposit once we have completed the full evaluation of the results from our recent program,” said Kevin Bullock, president and chief executive officer, Anaconda Mining.
To date, a total of 17,941.7 metres in 121 drill holes (BR-20-105 to BR-20-224) have been completed under the drill program, with assays from drill holes BR-20-105 to BR-20-215 previously reported in news releases dated Sept. 3, 2020, Oct. 5, 2020, Nov. 11, 2020, Nov. 19, 2020, and Jan. 5, 2020. This release outlines the results for 2,148.2 metres in 15 diamond drill holes, including BR-20-202, 207, 210 to 211, 213 and from BR-20-216 to BR-20-224 including BR-20-222a, which was abandoned at 46 metres and redrilled in BR-20-222. Drill holes BR-20-133, -157, -163, -167, -169 and -171, totalling 639 metres, were drilled for metallurgical purposes and any assay data for these holes will be reported in the future as results become available.
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-20-202 119 119.5 0.5 1.51
BR-20-207 159.5 160 0.5 1.43
and 200.7 203 2.3 2.96
including 200.7 201.2 0.5 11.8
and 230 231.5 1.5 1.53
and 235.8 236.3 0.5 14.5
and 270 272.5 2.5 1.42
including 270 270.5 0.5 4.55
and 294 295 1.0 3.81
and 298 298.5 0.5 2.12
and 300.5 301.5 1.0 1.88
and 309 309.5 0.5 4.99
BR-20-210 52 52.7 0.7 0.51
and 74.4 74.9 0.5 20.3
and 107 110.2 3.2 0.67
and 121.2 126.8 5.6 2.66
including 125 125.8 0.8 9.72
and 126.3 126.8 0.5 6.66
and 216.4 217.2 0.8 3.54
BR-20-211 105.8 106.8 1.0 2.62
and 157 157.5 0.5 5.26
and 175 176 1.0 0.84
BR-20-213 137.5 138 0.5 1.19
and 173.5 174.5 1.0 0.68
and 184 185 1.0 0.54
and 224.7 225.2 0.5 0.64
and 238.8 239.8 1.0 1.13
and 244.7 245.5 0.8 2.66
and 247.5 248.5 1.0 0.83
and 259.5 260 0.5 1.93
and 263 263.7 0.7 0.66
and 272.9 273.5 0.6 1.57
BR-20-216 91 92 1.0 0.68
and 104 105 1.0 4.51
and 123 123.5 0.5 0.89
and 130 139 9.0 2.08
including 133.5 134.5 1.0 12.2
and 144.5 145 0.5 3.91
BR-20-217 84 84.5 0.5 17.5
and 98 99 1.0 1.61
and 110 111 1.0 2.03
and 119 122 3.0 0.9
and 126 127 1.0 0.63
and 132 133 1.0 0.69
BR-20-218 67 67.5 0.5 0.8
and 88.7 89.2 0.5 5.7
and 94 95 1.0 0.88
and 98.7 99.2 0.5 1.47
and 108 111.5 3.5 1.66
and 126 128 2.0 1.19
BR-20-219 15.5 16.5 1.0 1.46
and 21 22 1.0 0.72
and 34 35.5 1.5 0.89
and 59.5 61.5 2.0 2.13
and 68.5 69.5 1.0 0.79
and 72 93.5 21.5 1.37
including 87 87.5 0.5 26.8
BR-20-220** 43 44 1.0 0.94
BR-20-221 19 24.5 5.5 1.31
including 20.5 21 0.5 9.16
and 44 48.5 4.5 2.78
and 51.5 52 0.5 1.62
and 55.5 70 14.5 1.86
including 61 61.5 0.5 6.08
and 91.5 93.5 2.0 0.63
and 97 100.5 3.5 1.78
and 120 121 1.0 1.65
BR-20-223** 13 17 4.0 2.68
and 24 29 5.0 1.01
and 38 41 3.0 1.22
and 45 55 10.0 2.74
including 51 52 1.0 14.7
and 63 66 3.0 1.1
BR-20-224** 21.6 25 3.4 1.01
and 33 34 1.0 1.23
and 39 41 2.0 8.56
including 40 41 1.0 16.7
and 59 59.5 0.5 1.18
and 71 73 2.0 0.59
* Intervals are reported as core length only. Please refer to notes regarding
true width.
** Eleven of the drill holes (BR-20-202, -207, -210, -213 and -219 to 224) were
drilled off section resulting in broader drill core intercepts that
overemphasize apparent mineralized width. The true widths of these drill
intercepts range between 70 and 100 per cent except for holes BR-20-220, -223
and -224, which have true widths estimated at 60 per cent, 30 per cent and 50
per cent of core length, respectively. These holes were drilled off section
due to issues with access due to location of wetlands.
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 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.
Freeman Gold begins metallurgical testwork at Lemhi
Freeman Gold Corp. has commenced metallurgical testwork on its 100-per-cent-owned Lemhi gold project located in Idaho, United States. This work is part of Freeman’s integrated technical program to advance towards a production decision. A comprehensive review of the historical information and test work conducted by previous operators has been completed. Freeman’s metallurgical team has designed a test work program to follow-up and enhance gold recoveries, ultimately leading to a project flowsheet for the Lemhi Project. The Company is utilizing samples from both historical and fresh drill core from the 2020 exploration drill program.
Read MoreWill Randall, President & CEO, commented, “We have a very strong foundation of metallurgical test work from previous operators of the Lemhi project which indicate excellent recoveries using conventional leach technologies. This body of work has saved us considerable time and money in designing a metallurgical program that will provide an optimal process and recovery parameters at Lemhi. As part of our 2020 drill campaign, we completed a large diameter diamond drill hole providing us valuable material for the testing program which will be conducted at SGS Canada.”
A review of metallurgical evaluations by previous owners of Lemhi has shown that gold recoveries respond well to conventional processing techniques. Past engineering studies has also shown that Lemhi has the potential to be developed into an open pit, heap and/or tank leach operation.
Historical test work focused primarily on cyanide leaching, most recently in the mid-1990s, by Kappes Cassiday & Associates (“KPA”) of Reno, NV. Column leach tests by KPA to evaluate heap leach potential showed gold recovery ranged from the seventy to ninety percent range, with best results obtained using a crush size of 80 percent minus 8 mesh (2.4 mm). Additional work by KPA included bottle roll testing to simulate tank leaching response that typically resulted in optimized gold recoveries in the mid-ninety percent range. The results vary based on the head grade and lithology of the samples, along with test conditions used, most notably particle size and leach retention time. In general, the historic metallurgical information shows good to excellent leach response over wide spatial areas and depth of the known gold mineralization.
In order to advance process development at Lemhi, a 2021 metallurgical testing program is to be conducted at SGS Canada Inc., Burnaby, BC, under the direction of Frank Wright, P.Eng. This study will continue to focus on leach response, as well as investigate optional procedures, including froth flotation, primarily for deeper less oxidized material, and for establishing design and operating parameters for crushing, grinding, and leaching circuits.
The technical content of this release has been reviewed and approved by Dean Besserer, P. Geo., VP Exploration for the Company and a Qualified Person as defined by the National Instrument 43-101.
Superior Gold appoints Marantelli as director
Superior Gold Inc. has appointed Damien Marantelli to its board of directors.
Read More“We are very pleased to welcome Damien to our board of directors. His extensive industry experience, operational expertise and being located in Western Australian will be a great asset to Superior Gold and will complement the skill set and experience of our existing board members,” commented Superior Gold’s chairman, Mark Wellings.
Mr. Marantelli is an experienced mining engineer with extensive operational and leadership experience across a variety of commodities and brings 40 years of international mining industry experience to the company. Mr. Marantelli’s most recent roles have been chief executive officer and director of Metals X; chief operating officer of Primero Mining; and senior management positions with First Quantum Minerals, Inmet Mining and WMC Resources. Previously, Mr. Marantelli held the role of general manager of the Sentinel copper mine in development by First Quantum Minerals, where he was responsible for leading approximately 3,500 employees through the final stages of commissioning and ramp-up of open-pit and processing operations. He was also the managing director of First Quantum Minerals’ (previously Inmet Mining’s) Las Cruces copper mine and the managing director of the Cayeli underground copper and zinc mine. Prior to this, Mr. Marantelli was the general manager of BHP Billiton’s (previously WMC Resources’) Mount Keith operations and oversaw the expansion of annual capacity from 18 million to 40 million bank cubic metres per year over a two-year period.
The company will grant Mr. Marantelli, subject to the terms and conditions of the company’s stock option plan and the receipt of regulatory approval, options to purchase 200,000 common shares of the company with a five-year term.
Alpha Li receives Tollilar phase 2 drilling licences
ALPHA LITHIUM RECEIVES DRILLING LICENSE FOR PHASE TWO OF DRILLING AT TOLILLAR LITHIUM PROJECT IN ARGENTINA Alpha Lithium Corp. has received approval and drilling licences for phase 2 of its three-phase drilling program on Alpha’s 100-per-cent-owned, 27,500-hectare Tolillar salar.
Read MoreThe drilling licenses replaced the previous licenses that had expired and could not be renewed during government COVID shutdowns. These licenses allow the company to initiate Phase Two of the Company’s three-phase drilling program (see press release January 12, 2021) for a complete summary of the three-phase drilling program) and drill at least two deeper wells on the eastern and southern portions of the salar.
Drilling of Phase Two is expected to commence immediately after Phase One is complete, in the coming weeks.
The Company started drilling its six-well, three-phase drilling program at the start of December (see press release December 1, 2020). All planned drilling operations on the first well are complete and the crew has now moved on to the second well in the program.
The Company’s 27,500-hectare Tolillar Salar is one of the largest untested salars in Argentina and is 100% owned by Alpha Lithium. Previous drilling and sampling of the salar has established the presence of lithium across the tremendous arial extent of the Tolillar Salar and the current drill program is an additional step towards the completion of a 43-101 Resource Estimate.
Alpha recently added a renowned group of lithium chemistry experts to its team (see press release November 18, 2020) for the purpose of examining and evaluating different Direct Lithium Extraction (“DLE”) techniques that have been shown to economically extract lithium at concentrations as low as 100 mg/L.
Brad Nichol, Chief Executive of Alpha, commented, “While the news of receiving our Phase Two drilling licenses was expected, it is still very exciting to be readying ourselves for drilling to greater depths and defining the extent of the Tolillar Salar. All wells in this drilling program are being drilled as production wells, not just core holes. Previous campaigns and tests have provided us with the evidence of lithium and confidence to drill producible wells so that our internal lithium chemistry experts can begin the sampling and testing of different DLE technologies on our exact brine. This will allow us to move very quickly into the production phase at the Tolillar Salar. To that end, we have made significant progress with several DLE technology companies and hope to have news of that progress in the future.”
Highgold Mining 1.85-million-share private placement
The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced Dec. 15, 2020.
Read MoreNumber of shares: 1.85 million flow-through shares
Purchase price: $2 per flow-through share
Number of placees: 17 placees
Total pro group involvement: 87,500 (two placees)
Finder’s fee: Cormark Securities Inc., $180,000 cash
Osisko Metals 4,120,250-share private placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 10, 2020.
Read MoreNumber of shares: 4,120,250 shares
Purchase price: 48 cents per share
Warrants: 2,065,125 share purchase warrants to purchase 2,065,125 shares
Warrant exercise price: 58 cents for a two-year period
Number of placees: 10 placees
Insider: Robert Wares, 1.25 million