Westhaven Closes C$15 Million Bought Deal Public Offering
VANCOUVER, British Columbia, March 03, 2021 (GLOBE NEWSWIRE) — Westhaven Gold Corp. (TSX-V:WHN) (“Westhaven” or the “Company”) is pleased to announce that it has closed its previously announced bought deal financing (the “Offering”). Pursuant to the Offering, Westhaven issued 21,378,500 units of the company (the “Units”), including 2,788,500 Units issued in connection with the exercise in full of the over-allotment option granted to Raymond James Ltd. in connection with the Offering, at a price of C$0.70 per Unit for gross proceeds of C$14,964,950.
Read MoreEach Unit consists of one common share of the Company and one-half common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one common share of the Company for an exercise price of C$1.00 per share for a period of two years from the Closing Date. The Warrants will be listed on the TSX Venture Exchange with trading commencing on March 5, 2021. The Warrants were issued under a warrant indenture dated March 3, 2021, a copy of which is available on the Company’s profile on SEDAR.
The net proceeds from the Offering will be used to fund the exploration and development of the Company’s mining properties in British Columbia including Shovelnose, drilling to complete a maiden resource estimate, working capital and general corporate purposes.
The Units were offered by way of short form prospectus in each of the provinces of Canada (except the Province of Quebec), pursuant to National Instrument 44-101 – Short Form Prospectus Distributions.
Westhaven benefits from the B.C. Mining Exploration Tax Credit (METC) which is a permanent incentive to support investment in mining. The METC is a refundable B.C. income tax credit for eligible individuals and corporations conducting grassroots mineral exploration in B.C. and is worth 30% of qualified mining exploration expenditures.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the “United States” or “U.S. persons” (as such terms are defined in Rule 902 of Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable U.S. state securities laws or compliance with the requirements of an exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
“Gareth Thomas”
Gareth Thomas, President, CEO & Director
About Westhaven:
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low cost exploration. Westhaven is committed to the highest standards of environmental and social responsibility with a focus on generating positive outcomes and returns to all stakeholders. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavengold.com
Cautionary note regarding forward-looking statements
This news release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements and information include, but are not limited to, statements in respect of the proposed Offering including the proposed use of proceeds, the closing date of the Offering and receipt of regulatory and stock exchange approvals.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the current COVID-19 pandemic; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.
Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
Westhaven undertakes no obligation to update forward-looking information except as required by applicable law. Such forward looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

© 2021 Canjex Publishing Ltd. All rights reserved.
Namibia Critical Metals Announces CDN$500,000 Private Placement and Appointment of New CFO
HALIFAX, NS / ACCESSWIRE / March 3, 2021 / Namibia Critical Metals Inc. (“Namibia Critical Metals” or the “Company”) (TSXV:NMI) today announced it intends to complete a non-brokered private placement in the amount of up to $500,000 consisting of units offered at a price of $0.25 per unit (“Private Placement”) representing a 11% discount to the closing price of the common shares of the Company on March 1, 2021. Each unit will consist of one common share and one warrant. Each whole warrant will be exercisable for one common share at a price of $0.35 for a period of 12 months. A maximum of 4,000,000 common shares of Namibia Critical Metals will be issued pursuant to the Private Placement (assuming full exercise of all warrants). The Private Placement is subject to the approval of the TSX Venture Exchange (“TSXV”).
Read MoreThe proceeds of the Private Placement will be used primarily to fund gold exploration and general corporate purposes. The common shares and warrants of the Company issued pursuant to the Private Placement will be subject to a four-month hold period.
The Company also announced today that Susanne Willett will assume the position of Chief Financial Officer of the Company on April 1, 2021 when Darrin Campbell, the current CFO, assumes the role of President as announced in the Company’s press release of February 1, 2021. Ms. Willett also currently serves as CFO for Morien Resources Corp. (TSXV:MOX). Previously Ms. Willett worked for the New Brunswick Power group of companies as Business Unit CFO, Director of Financial Planning and Treasury, and Controller, where she directed business planning, regulatory compliance, management and financial reporting. Ms. Willett holds a Bachelor of Commerce degree from Dalhousie University in Halifax, Nova Scotia, a Master of Business Administration from York University in Toronto, Ontario, and qualified as a CPA, CA.
About Namibia Critical Metals Inc.
Namibia Critical Metals holds a diversified portfolio of exploration and advanced stage projects in the country of Namibia focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle and associated industries. The Company also has significant land positions in areas favourable for gold mineralization.
The Lofdal Heavy Rare Earth Project is the Company’s most advanced project having completed a Preliminary Economic Assessment in 2014 and full Environmental Impact Assessment in 2017. An application has been made for a mining licence at Lofdal. The project is now in joint venture with JOGMEC who are funding the current $4,100,000 drilling and metallurgical program with the objective of doubling the resource size and optimization of the process flow sheet.
At the Erongo Gold Project, stratigraphic equivalents to the sediments hosting the recent Osino gold discovery at Twin Hills have been identified but not yet sampled. Detailed soil surveys are planned over this highly prospective area.
The Epembe Tantalum-Niobium Project is also at an advanced stage with a well-defined, 10 km long carbonatite dyke that has been delineated by detailed mapping with over 11,000 meters of drilling. Preliminary mineralogical and metallurgical studies including sorting tests (XRT), indicate the potential for significant physical upgrading. Further work will be undertaken to advance the project to a preliminary economic assessment stage.
The Kunene Cobalt-Copper Project comprises a very large area of favorable stratigraphy (“the DOF”) along strike to the west of the Opuwo Co-Cu-Zn deposit. Secondary copper mineralization over a wide area points to preliminary evidence of a regional-scale hydrothermal system. Exploration targets on EPLs held in the Kunene project comprise direct extensions of the DOF style mineralization to the west, sediment-hosted cobalt and copper, orogenic copper, and stratabound Mn and Zn-Pb mineralization.
Earlier stage projects include the Grootfontein Project which has potential for magmatic Cu-Ni mineralization, Mississippi Valley-type Zn-Pb-V mineralization and Otjikoto-style gold mineralization.
The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under the symbol “NMI”.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information please contact –
Namibia Critical Metals Inc.
Darrin Campbell, CFO
Tel: +01 (902) 835-8760
Fax: +01 (902) 835-8761
Email: Info@NamibiaCMI.com
Web site: www.NamibiaCriticalMetals.com
The foregoing information may contain forward-looking information relating to the future performance of Namibia Rare Earths Inc. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company’s filings with the appropriate securities commissions.
SOURCE: Namibia Critical Metals Inc.
View source version on accesswire.com:
https://www.accesswire.com/633127/Namibia-Critical-Metals-Announces-CDN500000-Private-Placement-and-Appointment-of-New-CFO
© 2021 Canjex Publishing Ltd. All rights reserved.
Golden Predator to acquire Viva Gold
Golden Predator Mining Corp. and Viva Gold Corp. have entered into a definitive arrangement agreement whereby Golden Predator will acquire all of the outstanding securities of Viva Gold by way of a plan of arrangement under the Business Corporations Act (British Columbia).
Read MoreThe proposed Arrangement brings together proven mine building expertise, jurisdictional diversification and two advanced stage gold development projects as the two company’s merge their Nevada and Yukon assets and management to position the company as an emerging junior gold producer.
Details of Arrangement
Pursuant to the Arrangement, the shareholders of Viva will receive 1.60 Class A common shares of Golden Predator (a “Golden Predator Share”) for each common share of Viva Gold (a “Viva Gold Share”) held by them at the effective time of the Arrangement (the “Exchange Ratio”). Upon the closing of the Transaction, former shareholders of Viva Gold will hold approximately 27% of the outstanding shares of Golden Predator. The Exchange Ratio represents a premium of approximately 35% to the Viva Gold shareholders over the 20-day volume weighted average price, and 35% to the 30-day volume weighted average price of the Viva Gold Shares as at March 1, 2021.
On closing of the Arrangement, subject to TSX Venture Exchange (“TSXV”) approval and applicable securities laws, the directors of Golden Predator will consist of: William Sheriff (Executive Chair); James Hesketh (Chief Executive Officer); two nominees selected by Viva Gold; and three nominees selected by Golden Predator. The management of Golden Predator will consist of James Hesketh, President and Chief Executive Officer and Mike Maslowski, Chief Operating Officer.
Janet Lee-Sheriff, current Golden Predator Chief Executive Officer will participate in a seamless transition. Ms. Lee-Sheriff remains committed to working with the Company to uphold corporate values and objectives surrounding progressive indigenous relations and innovative community engagement, in particular with the Tr’ondek Hwech’in, First Nation of Na-cho Nyak Dun and Kaska Nation.
In connection with the Arrangement, Golden Predator is proposing to distribute 8,620,000 common shares of C2C Gold Corp. (CSE:CTOC) to shareholders of record of Golden Predator immediately prior to closing of the Arrangement by way of return of capital transaction (the “Return of Capital”).
“The Golden Predator Board of Directors looks forward to working with James Hesketh and the Viva team. Mr. Hesketh is deeply familiar with Brewery Creek and its potential for economic production. We strongly believe our shareholders and the communities we operate in will benefit from jurisdictional diversification and the addition of proven mine building expertise at this pivotal time,” said William M. Sheriff. Executive Chairman of Golden Predator.
“This Transaction brings together all of the key ingredients required to build a premier junior gold producer. Two advanced stage gold development projects ready for permitting and development, exploration upside, excellent mining jurisdictions, strong management skillsets, a solid balance sheet, and strong market liquidity,” states James Hesketh, President and CEO of Viva Gold.
Viva Gold and Golden Predator will be hosting a joint online investor video conference on Thursday, March 4, 2021 at 12 PM (ET) to provide more details about the business arrangement. To register and attend the webinar please visit: https://attendee.gotowebinar.com/register/9138677069424175887
Key benefits of this transaction for Golden Predator and Viva shareholders:
Increased size and risk mitigation through consolidated ownership of the advanced stage Tonopah Gold Project in Nevada and the formerly operating Brewery Creek Gold Mine in the Yukon;
A focus on low-cost, open-pit, heap-leach technology;
Combined 1.8 million ounces of measured and indicated heap leachable gold resources, with an additional 0.8 million ounces of inferred gold resource and strong exploration upside on both lead projects;
A pipeline of advanced exploration projects, including the high-grade Marg polymetallic Copper-Gold deposit and a number of gold exploration properties with demonstrated gold mineralization and excellent potential;
Significantly strengthened management and leadership team with balanced and complimentary skillsets;
Proven mine building capacity and in-house technical expertise to advance projects;
Diversification of operating jurisdictions;
Enhanced balance sheet and liquidity with over $6.3 million in net cash and marketable securities;
Cost reduction synergies gained through consolidation and reduced overhead;
A committed focus on environmental stewardship and a progressive approach towards First Nation relations and community engagement; and a strong combined shareholder base of institutional and retail shareholders with limited ownership overlap.
The closing of the Transaction is subject to customary conditions, including the approval of Viva Gold shareholders, court approvals of the Arrangement and the Return of Capital, and the acceptance of the TSXV. Evans & Evans, Inc. of Vancouver, British Columbia, has provided the fairness opinion to the Viva Gold Board of Directors concluding that the Transaction is fair, from a financial point of view, to its shareholders as at March 1, 2021.
The special committee and the board of directors of Viva Gold recommend that, in the absence of a superior proposal, Viva Gold shareholders vote in favor of the Arrangement. Dentons Canada LLP is acting as legal advisor to Viva Gold.
The board of directors of Golden Predator received a fairness opinion from RWE Growth Partners of Vancouver, confirming that the transaction is fair, from a financial point of view, to the shareholders of Golden Predator. Morton Law LLP is acting as legal advisor to Golden Predator.
The directors and senior officers, and certain other shareholders of Viva Gold, representing approximately 20% of the issued share capital of Viva Gold, have committed to vote their Viva Gold Shares in favor of the Arrangement. The parties currently expect the Transaction to be completed on or about May 3, 2021. Upon completion of the Transaction, Viva Gold will apply to delist the Viva Gold Shares from the TSXV.
The Arrangement will require the approval of at least 2/3rds of votes cast by the Viva Gold shareholders. Full details of the Arrangement will be provided in a Viva Gold management information circular, which is expected to be mailed to Viva Gold’s shareholders by March 29, 2021. It is anticipated that the Viva shareholders meeting and the closing of the Transaction will take place by April 29, 2021.
The Exchange Ratio was determined on the basis that Golden Predator will complete the Return of Capital distribution to the Golden Predator shareholders of record immediately prior to the closing of the Arrangement. The Return of Capital will result in a reduction in the stated capital of the Golden Predator Shares held by such shareholders, equal to the value of the C2C Shares being distributed. The market price per C2C Share on the CSE as at the close of markets on February 26, 2021 was $0.17. Based on the current issued and outstanding shares of Golden Predator, each participating shareholder of Golden Predator would be entitled to receive approximately 0.05 C2C Shares for each Golden Predator Share held of record. No fractional interests in the C2C Shares will be distributed in connection with the Return of Capital, and any such interests will be rounded down to the nearest whole distribution Share. The Distribution Shares have not, and will not, be registered under the US Securities Act of 1933, as amended.
The Agreement also contains certain customary non-solicitation and right to match provisions, with a break fee of $300,000.
ABOUT GOLDEN PREDATOR MINING CORP.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t Gold and both a technical report and Bankable Feasibility Study underway to define the economics of a restart of heap leach operations at the Brewery Creek Mine. The 180 km2 brownfield property is located 55 km by road from Dawson City, Yukon and operates under a Socio-Economic Accord with the Tr’ondek Hwech’in First Nation. The Company also holds the Marg Project, with a 43-101 compliant resource, the Gold Dome Project and Grew Creek Project. For additional information on Golden Predator and the Brewery Creek Mine, please visit our website: http://www.goldenpredator.com.
ABOUT VIVA GOLD CORP.
Viva Gold is a gold exploration and project development company with a focus on Nevada. Viva Gold holds 100% of the advanced Tonopah Gold Project, a large land position of approximately 8,800 acres with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific Walker Lane gold trend in Nevada, about 30 kilometers south-east of the Round Mountain mine of Kinross Gold and 20 kilometers north from the Town of Tonopah. Viva’s management team has extensive experience in mining exploration, development and production and is supported by a Board of Directors and advisors who are proven mine finders, deal makers and financiers. Viva Gold trades on the TSX-V as “VAU”, on the OTCQB in the US as “VAUCF” and on the Frankfurt exchange under “7PB”. For additional information on Viva Gold and the Tonopah Gold Project, please visit our website: http://www.vivagoldcorp.com.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.
Golden Predator Mining Corp. and Viva Gold Corp Enter into Business Combination Agreement
VANCOUVER, BC / ACCESSWIRE / March 3, 2021 / Golden Predator Mining Corp.(TSXV:GPY)(OTCQX:NTGSF) (“Golden Predator“) and Viva Gold Corp. (TSXV:VAU)(OTCQB:VAUCF) (“Viva Gold“) are pleased to announce that they have entered into a definitive arrangement agreement (the “Agreement“) whereby Golden Predator will acquire all of the outstanding securities of Viva Gold by way of a plan of arrangement (the “Arrangement“) under the Business Corporations Act (British Columbia) (the “Transaction“).
Read MoreThe proposed Arrangement brings together proven mine building expertise, jurisdictional diversification and two advanced stage gold development projects as the two company’s merge their Nevada and Yukon assets and management to position the company as an emerging junior gold producer.
Details of Arrangement
Pursuant to the Arrangement, the shareholders of Viva will receive 1.60 Class A common shares of Golden Predator (a “Golden Predator Share“) for each common share of Viva Gold (a “Viva Gold Share“) held by them at the effective time of the Arrangement (the “Exchange Ratio“). Upon the closing of the Transaction, former shareholders of Viva Gold will hold approximately 27% of the outstanding shares of Golden Predator. The Exchange Ratio represents a premium of approximately 35% to the Viva Gold shareholders over the 20-day volume weighted average price, and 35% to the 30-day volume weighted average price of the Viva Gold Shares as at March 1, 2021.
On closing of the Arrangement, subject to TSX Venture Exchange (“TSXV“) approval and applicable securities laws, the directors of Golden Predator will consist of: William Sheriff (Executive Chair); James Hesketh (Chief Executive Officer); two nominees selected by Viva Gold; and three nominees selected by Golden Predator. The management of Golden Predator will consist of James Hesketh, President and Chief Executive Officer and Mike Maslowski, Chief Operating Officer.
Janet Lee-Sheriff, current Golden Predator Chief Executive Officer will participate in a seamless transition. Ms Lee-Sheriff remains committed to working with the Company to uphold corporate values and objectives surrounding progressive indigenous relations and innovative community engagement, in particular with the Tr’ondëk Hwëch’in, First Nation of Na-cho Nyak Dun and Kaska Nation.
In connection with the Arrangement, Golden Predator is proposing to distribute 8,620,000 common shares of C2C Gold Corp. to shareholders of record of Golden Predator immediately prior to closing of the Arrangement by way of return of capital transaction (the “Return of Capital“).
“The Golden Predator Board of Directors looks forward to working with James Hesketh and the Viva team. Mr. Hesketh is deeply familiar with Brewery Creek and its potential for economic production. We strongly believe our shareholders and the communities we operate in will benefit from jurisdictional diversification and the addition of proven mine building expertise at this pivotal time,” said William M. Sheriff. Executive Chairman of Golden Predator.
“This Transaction brings together all of the key ingredients required to build a premier junior gold producer. Two advanced stage gold development projects ready for permitting and development, exploration upside, excellent mining jurisdictions, strong management skillsets, a solid balance sheet, and strong market liquidity” states James Hesketh, President and CEO of Viva Gold.
Viva Gold and Golden Predator will be hosting a joint online investor teleconference/videoconference on Thursday, March 4, 2021 at 11 AM (ET) to provide more details about the arrangement Transaction. To register and attend the webinar please visit: https://attendee.gotowebinar.com/register/9138677069424175887
Key benefits of this transaction for Golden Predator and Viva shareholders:
- Increased size and risk mitigation through consolidated ownership of the advanced stage Tonopah Gold Project in Nevada and the formerly operating Brewery Creek Gold Mine in the Yukon;
- A focus on low-cost, open-pit, heap-leach technology;
- Combined 1.8 million ounces of measured and indicated heap leachable gold resources, with an additional 0.8 million ounces of inferred gold resource and strong exploration upside on both lead projects;
- A pipeline of advanced exploration projects, including the high-grade Marg polymetallic Copper-Gold deposit and a number of gold exploration properties with demonstrated gold mineralization and excellent potential;
- Significantly strengthened management and leadership team with balanced and complimentary skillsets;
- Proven mine building capacity and in-house technical expertise to advance projects;
- Diversification of operating jurisdictions;
- Enhanced balance sheet and liquidity with over $6.3 million in net cash and marketable securities;
- Cost reduction synergies gained through consolidation and reduced overhead;
- A committed focus on environmental stewardship and a progressive approach towards First Nation relations and community engagement; and a strong combined shareholder base of institutional and retail shareholders with limited ownership overlap.
The closing of the Transaction is subject to customary conditions, including the approval of Viva Gold shareholders, court approvals of the Arrangement and the Return of Capital, and the acceptance of the TSXV. Evans & Evans, Inc. of Vancouver, British Columbia, has provided the fairness opinion to the Viva Gold Board of Directors concluding that the Transaction is fair, from a financial point of view, to its shareholders as at March 1, 2021.
The special committee and the board of directors of Viva Gold recommend that, in the absence of a superior proposal, Viva Gold shareholders vote in favor of the Arrangement. Dentons Canada LLP is acting as legal advisor to Viva Gold.
The board of directors of Golden Predator received a fairness opinion from RWE Growth Partners of Vancouver, confirming that the transaction is fair, from a financial point of view, to the shareholders of Golden Predator. Morton Law LLP is acting as legal advisor to Golden Predator.
The directors and senior officers, and certain other shareholders of Viva Gold, representing approximately 20% of the issued share capital of Viva Gold, have committed to vote their Viva Gold Shares in favor of the Arrangement. The parties currently expect the Transaction to be completed on or about May 3, 2021. Upon completion of the Transaction, Viva Gold will apply to delist the Viva Gold Shares from the TSXV.
The Arrangement will require the approval of at least 2/3rds of votes cast by the Viva Gold shareholders. Full details of the Arrangement will be provided in a Viva Gold management information circular, which is expected to be mailed to Viva Gold’s shareholders by March 29, 2021. It is anticipated that the Viva shareholders meeting and the closing of the Transaction will take place by April 29, 2021.
The Agreement also contains certain customary non-solicitation and right to match provisions, with a break fee of $300,000.
ABOUT GOLDEN PREDATOR MINING CORP.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t Gold and both a technical report and Bankable Feasibility Study underway to define the economics of a restart of heap leach operations at the Brewery Creek Mine. The 180 km2 brownfield property is located 55 km by road from Dawson City, Yukon and operates under a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation. The Company also holds the Marg Project, with a 43-101 compliant resource, the Gold Dome Project and Grew Creek Project. For additional information on Golden Predator and the Brewery Creek Mine, please visit our website: www.goldenpredator.com.
ABOUT VIVA GOLD CORP.
Viva Gold is a gold exploration and project development company with a focus on Nevada. Viva Gold holds 100% of the advanced Tonopah Gold Project, a large land position of approximately 8,800 acres with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific Walker Lane gold trend in Nevada, about 30 kilometers south-east of the Round Mountain mine of Kinross Gold and 20 kilometers north from the Town of Tonopah. Viva’s management team has extensive experience in mining exploration, development and production and is supported by a Board of Directors and advisors who are proven mine finders, deal makers and financiers. Viva Gold trades on the TSX-V as “VAU”, on the OTCQB in the US as “VAUCF” and on the Frankfurt exchange under “7PB”. For additional information on Viva Gold and the Tonopah Gold Project, please visit our website: www.vivagoldcorp.com.
Contact Information:
Golden Predator Mining Corp.
William Sheriff, Executive Chair
(604)260-0289
Viva Gold Corp.
James Hesketh, President & CEO
(720)291-1775
TSX VENTURE EXCHANGE DISCLAIMER
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
Certain information contained herein constitutes forward-looking information or statements (“forward looking statements”) under applicable securities legislation and rules. Such statements include, but are not limited to, statements with respect to the anticipated completion of the Arrangement. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viva Gold and/or Golden Predator to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: (i) any inability of the parties to satisfy the conditions to the completion of the Arrangement on acceptable terms or at all; (ii) and receipt of necessary stock exchange, court and shareholder approvals; (iii) satisfactory results of due diligence investigations. Although management of each of Viva Gold and Golden Predator has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Viva Gold will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Golden Predator cautions readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
SOURCE: Viva Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/633151/Golden-Predator-Mining-Corp-and-Viva-Gold-Corp-Enter-into-Business-Combination-Agreement
© 2021 Canjex Publishing Ltd. All rights reserved.
OROCO COMPLETES AIRBORNE MANETICS SURVEY AND UPDATES 3D IP SURVEY PROGRESS AT SANTO TOMAS
Vancouver, March 03, 2021 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce the successful completion of the airborne component of a helicopter magnetics survey over the Santo Tomas Project (“the Project”), and to provide an update on the 3D induced polarization survey in progress on the Project.
Read MoreMagnetics Survey. The Company has completed a helicopter magnetics survey performed by Terraquest Ltd. (“TQ”) using a high sensitivity cesium vapour magnetometer, a gamma ray spectrometer and TQ’s proprietary Matrix very low frequency electromagnetic (“VLFEM”) system. The survey was completed with the collection of 2,231 line kilometers of data with an east-west tie-line separation of 50 metres and a north-south tie-line separation of 500 metres. Independent quality monitoring of the survey is being provided by Condor Consulting, Inc. of Lakewood, CO. The Company expects to receive the processed magnetics, VLFEM and radiometric data from TQ within the next two months. The Company will then analyze the data to assist in the mapping of the sub-surface geology of the Project.
3D IP Survey. Further to its news release of January 27, 2021, the Company has completed the deep, three-dimensional Induced Polarization geophysical survey (“3D IP”) over the south eastern extension to the project survey grid on the South Zone of the Project, closing off the eastern extension of the South Zone chargeability feature.
The Company has now relocated the survey team to the Brasiles Zone in the northern part of the grid and commenced the survey of the continuation of NNE striking, west-dipping, chargeability-high response which the 3D IP survey has already demonstrated extends from the North Zone to the prominent gossan of the Brasiles Zone. The Company is taking advantage of the current low water levels in the Huites Reservoir to collect data from previously inaccessible areas, and will continue the 3d IP survey for another 800 metres to the north. The Company may extend the survey further in the event that the Brasiles chargeability feature has not been closed off. Subject to such extensions, the DCIP survey is approximately 80% complete.
The relative outlines of the airborne magnetics and field-based DCIP geophysical surveys are shown in the map in Figure 1.
ABOUT OROCO:
The Company holds a net 61.4% interest in the collective 1,172.9 ha core concessions of the Santo Tomas Project in NW Mexico and may increase that majority interest up to an 81.0% interest with a project investment of up to CAD$30 million. The Company also holds a 77.5% interest in 7,807.9 ha of mineral concessions surrounding and adjacent to the core concessions (for a total project area of 22,192 acres). The Project is situated within the Santo Tomas District, which extends from Santo Tomas up to the Jinchuan Group’s Bahuerachi project, approximately 14 km to the north-east. Santo Tomas hosts a significant copper porphyry deposit defined by prior exploration spanning the period from 1968 to 1994. During that time, the property was tested by over 100 diamond and reverse circulation drill holes, totaling approximately 30,000 meters. Based on data generated by these drill programs, a historical Prefeasibility Study was completed by Bateman Engineering Inc. in 1994.
The Santo Tomas Project is located within 160km of the Pacific deep-water port at Topolobampo and is serviced via highway and proximal rail (and parallel corridors of trunk grid power lines and natural gas) through the city of Los Mochis to the northern city of Choix. The property is reached by a 32 km access road originally built to service Goldcorp’s El Sauzal Mine in Chihuahua State.
For further information, please contact:
Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.
Tel: 604-688-6200
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Information
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating to future events or achievements of the Company, are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated or implied in such statements. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters. Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law.
Attachment
Oroco Resource Corp. (604) 688-6200 info@orocoresourcecorp.com
© 2021 Canjex Publishing Ltd. All rights reserved.
Kootenay Silver begins drilling Columba
A 5,000-metre core drilling program has commenced at Kootenay Silver Inc.’s Columba silver project, located in Chihuahua state, Mexico.
Read MoreThe Program will focus on step out and infill drilling on impressive results to date in the high-grade F-vein and its associated hanging wall vein, a new discovery blind to surface. Focus will then shift to expanding on numerous other high-grade results such as found in holes CDH 20-030 (415 gpt silver over 11.15 meters including 721 gpt silver over 4.07 meters) in the JZ area and CDH 20-082 (1,186 gpt silver over 4.6 meters) in the B Vein.
James McDonald, CEO and President Stated: “Ending on a high note last year with 1,186 gpt silver over 4.6 meters on the largely untested B Vein we are eager to continue testing the various high-grade areas established by our 2019 and 2020 programs.”
Comprehensive drill results from the 2019 and 2020 programs can be viewed by clicking the following link: Columba Drill Results.
The Company has contracted GlobeXplore, S.A. de C.V. of Hermosillo, Sonora, Mexico to conduct the drilling at Columba. Results of the drill program will be announced as soon as the assays are received and interpreted by the Company.
About the Columba Property
Columba is a past producing high-grade silver mine, which operated on a small scale circa 1910 and again briefly circa 1958-60. The Property covers a large high-grade epithermal vein system which the Kootenay has mapped over strike lengths from 200 meters to up to 2 kilometers and sampled with grades returning up to 693 gpt silver on surface and exceeding 2,000 gpt in drilling. The Project area includes a network of underground workings comprised of 4 shafts and 6 levels of drifts reported to measure over 1,000 meters in length.
Sampling and QA/QC at Columba
All technical information for the Columba exploration program is obtained and reported under a formal quality assurance and quality control (“QA/QC”) program. Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists and engineers. Samples are then labeled, placed in plastic bags, sealed and with interval and sample numbers recorded. Samples are delivered by the Company to ALS Minerals (“ALS”) in Chihuahua. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS in Vancouver, B.C. Systematic assaying of standards, blanks and duplicates is performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30-gram fire assay with an AA finish. All drilling reported is HQ core and has been contracted to Globexplore Drilling from Hermosillo, Mexico.
Qualified Persons
The Kootenay scientific and technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved on behalf Kootenay by James McDonald, P.Geo, President, CEO & Director for Kootenay, a Qualified Person.
About Kootenay Silver Inc.
Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Supported by one of the largest portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of two of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.
Anaconda starts 3,500 m drill program at Goldboro
Anaconda Mining Inc. has initiated a new 3,500-metre diamond drill program at the company’s 100-per-cent-owned Goldboro gold project in Nova Scotia. The drill program follows the significantly expanded mineral resource estimate announced on Feb. 22, 2021, with the aim of converting high-priority inferred resources that reside within one of the constrained open pits outlined in the updated mineral resource.
Read MoreImportantly, the constrained open pits were designed using only measured and indicated resources, which in the process captured a portion of inferred resources. This infill program aims to upgrade those inferred resources into the measured and indicated categories to support the continuing feasibility study. The company is also evaluating further opportunities beyond this program to expand the open-pit portion of the mineral resource, particularly by targeting inferred resources adjacent to the constrained open pits.
Highlights of the Goldboro mineral resource include:
- Over all, 1,946,100 ounces of gold (16,036,000 tonnes at an average grade of 3.78 grams per tonne within the combined open-pit and underground measured and indicated mineral resource categories;
- Over all, 798,100 ounces of gold (5,306,000 tonnes at 4.68 g/t gold) within the combined open-pit and underground inferred mineral resource category;
- 1,089,900 ounces of gold (11.88 million tonnes at 2.86 g/t gold) within two constrained open pits within the measured and indicated mineral resource categories;
- 89,000 ounces of gold (1.58 million tonnes at 1.75 g/t gold) in two constrained open pits within the inferred mineral resource category.
“On the heels of the recently announced significant increase to the Goldboro mineral resource and the related positive metallurgical recoveries, we are excited to initiate a further round of infill drilling with the aim of upgrading inferred resources to measured and indicated that fall within the open pits at Goldboro, so that they might be incorporated into the ongoing feasibility study, which is anticipated in Q4 2021. The current inferred open-pit resources, lying within the constrained pit shells provide an immediate opportunity to increase the amount of measured and indicated resources included in the open pits. As we advance a preliminary economic assessment, anticipated in Q2 and in parallel with the feasibility study, we expect there will be other opportunities to optimize and expand the open-pit resource and economics of the project, and demonstrate Goldboro’s ability to support the company’s growth strategy to become a 150,000-ounce-per-year gold producer,” said Kevin Bullock, president and chief executive officer, Anaconda Mining.
MINERAL RESOURCE STATEMENT FOR THE GOLDBORO GOLD PROJECT Resource type Gold cut-off Category Tonnes Gold grade Troy ounces (g/t) (000) (g/t) Open pit 0.44 measured 6,137 2.73 538,500 indicated 5,743 2.99 551,300 measured + indicated 11,880 2.86 1,089,900 inferred 1,580 1.75 89,000 Underground 2.60 measured 1,384 7.36 327,700 indicated 2,772 5.93 528,600 measured + indicated 4,156 6.41 856,200 inferred 3,726 5.92 709,100 Combined* 0.44/2.60 measured 7,521 3.58 866,200 indicated 8,515 3.95 1,079,900 measured + indicated 16,036 3.78 1,946,100 inferred 5,306 4.68 798,100 * Combined open-pit and underground mineral resources; the open-pit mineral resource is based on a 0.44 g/t gold cut-off grade, and the underground mineral resource is based on 2.60 g/t gold cut-off grade.
Mineral resource estimate notes:
- Mineral resources were prepared in accordance with National Instrument 43-101 and the CIM (Canadian Institute of Mining, Metallurgy and Petroleum) definition standards for mineral resources and mineral reserves (2014) and the CIM estimation of mineral resources and mineral reserves best practice guidelines (2019). Mineral resources that are not mineral reserves do not have demonstrated economic viability. This estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues.
- Open-pit mineral resources are reported at a cut-off grade of 0.44 g/t gold that is based on a gold price of $2,000 per ounce (approximately $1,550 (U.S.) per ounce) and a gold processing recovery factor of 96 per cent.
- Underground mineral resource is reported at a cut-off grade of 2.60 g/t gold that is based on a gold price of $2,000/oz ($1,550 (U.S.)/oz) and a gold processing recovery factor of 97 per cent.
- Assays were variably capped on a wireframe-by-wireframe basis.
- Specific gravity was applied using weighted averages to each individual wireframe.
- Mineral resource effective date Feb. 7, 2021.
- All figures are rounded to reflect the relative accuracy of the estimates and totals may not add correctly.
- Excludes unclassified mineralization located within mined out areas.
- Reported from within a mineralization envelope accounting for mineral continuity.
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.
A technical report prepared in accordance with NI 43-101 for the Goldboro gold project will be filed on SEDAR before March 31, 2021. Readers are encouraged to read the technical report in its entirety, including all qualifications, assumptions and exclusions that relate to the mineral resource. The technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.
The mineral resource estimate was independently prepared under the supervision of Glen Kuntz, PGeo (Ontario), of Nordmin Engineering Ltd., a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Verification included a site visit to inspect drilling, logging, density measurement procedures and sampling procedures, and a review of the control sample results used to assess laboratory assay quality. In addition, a random selection of the drill hole database results was compared with original records.
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 Standard for Disclosure for Mineral Projects.
About Anaconda Mining Inc.
Anaconda is a Toronto Stock Exchange- and OTCQX-listed gold mining, development and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte mining district of Newfoundland, which includes the fully permitted Pine Cove mill, tailings facility and deepwater port, as well as about 15,000 hectares of highly prospective mineral lands including those adjacent to the past-producing, high-grade Nugget Pond mine at its Tilt Cove gold project. Anaconda is also developing the Goldboro gold project in Nova Scotia, a high-grade resource and the subject of a continuing feasibility study.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.
Copper Fox JV to drill up to 4,000 m at Schaft Creek
Copper Fox Metals Inc. has provided its shareholders an outline of the 2021 program for the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia. The Schaft Creek project is managed through the Schaft Creek joint venture (SCJV). Teck Resources Ltd. is the operator of the SCJV and holds a 75-per-cent interest with Copper Fox holding the remaining 25-per-cent interest.
Read More2021 program highlights:
- Review construction timeline and off-site infrastructure costs to reduce initial capital cost and improve project valuation;
- Confirm throughput assumptions, metal recoveries and production and ensure a fit-for-purpose process design flowsheet and associated equipment selection;
- Confirm opportunity to decrease the life-of-mine (LOM) strip ratio to reduce operational costs and associated greenhouse gas emissions;
- Review environmental baseline data requirements in accordance with the updated project configuration;
- Update regulatory requirements and associated permitting timeline;
- Continue to bring forward value recognition opportunities;
- Budget of $3.4-million.
Elmer B. Stewart, president and CDS Clearing and Depository Services Inc of Copper Fox, stated: “The proposed 2021 program is focused on confirming value add opportunities identified over the past two years at Schaft Creek. The work plan focuses on obtaining additional information to confirm opportunities to lower capital and operating costs, and refine project infrastructure requirements to increase value. A significant aspect of the 2021 program will be to continue our engagement with the Tahltan Nation.”
Program summary
The company plans to complete up to a 4,000-metre drill program and associated metallurgical and geotechnical testwork to provide information to confirm select value opportunities. The 2021 program will confirm throughput assumptions, improved metal recoveries, metal production and ensure a capital efficient fit-for-purpose process design flowsheet. The collection of additional geotechnical information in the proposed pit area may provide opportunities to decrease the LOM strip ratio and reduce operational cost and associated greenhouse gas emissions.
Geometallurgical drilling
The geometallurgical drilling is directed at collecting samples representative of the geometallurgical domains in the mine plan to conduct comminution, open- and closed-circuit flotation, mineralogical analysis, and tailings thickening/filtration testing. The laboratory component of the program will take place in early 2022.
Geotechnical drilling
The geotechnical drilling within the pit area will provide data to confirm pit slope angles, decrease the LOM strip ratio, and reduce operational cost and associated greenhouse gas emissions.
Environmental activities
The planned environmental work is a continuation of environmental baseline monitoring focused on climatology and hydrology, baseline flora and fauna data, and an updated review of project regulatory requirements in accordance with the current project configuration to inform an updated permitting timeline.
In addition to the above technical activities, a significant component of the 2021 program includes continued socio-economic interaction with the Tahltan Nation.
Elmer B. Stewart, MSc, PGeol, president and chief executive officer of Copper Fox, is the company’s non-independent, nominated qualified person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
About Copper Fox Metals Inc.
Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange, focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Desert Fox Copper Inc. and Northern Fox Copper Inc., are the 25-per-cent interest in the Schaft Creek joint venture with Teck Resources Ltd. on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and a 100-per-cent ownership of the Van Dyke oxide copper project located in Miami, Ariz.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.
Eastern Platinum releases retreatment project summary
Eastern Platinum Ltd. has provided the retreatment project operations technical summary for 2019 and 2020. The Retreatment Project is operated by the Company’s subsidiary, Barplats Mines (Pty) Ltd. (“Barplats”) at its Crocodile River Mine property in South Africa.
Read MoreThe Retreatment Project is a proprietary operation in South Africa producing chrome concentrates. It includes a combined hydro and mechanical re-mining method, magnetic separation applied to produce chrome concentrates, thus obtaining superior yield result compared to traditional gravity technology. The Retreatment Project is the only large-scale magnetic separation application in South Africa. Since 2017 Barplats has grown from 100 employees to over 350 contractors and employees engaged in supporting the Retreatment Project. The current Retreatment Project is expected to continue operating into 2024.
The key highlights of the Retreatment Project are as follows:
Total tons of tailings re-mined to December 31, 2020 = 4,107,257, with annual production levels as follows:
- 2019 = 1,778,525
- 2020 = 2,328,732
Total tons of chrome concentrate produced to December 31, 2020 = 1,575,009, with annual production levels as follows:
- 2019 = 588,006
- 2020 = 987,003
Recoveries of chrome – Yields (wet)
- 2019 – 32.63%
- 2020 – 37.47%
Availability of the Retreatment Project as a 24-hour continuous operation (including chrome recovery plant, deposition and remining on the tailings dam) including planned maintenance has improved significantly from 76.43% in 2019 to 85.71% in 2020.
PGM Update
The two years of successfully operating the Retreatment Project has laid the ground work to acquire the technical knowledge, confirm the upgrade required in the feed as well as establish the financial resources required to restart the PGM operations. Eastplats is currently reconfiguring and optimizing the small-scale PGM circuit (previously the scavenger plant circuit) (“PGM Circuit D”) which also includes funding for some of the initial work required to restart the main PGM plant circuit (“PGM Main Circuit”) (See press release of February 2, 2021) and the Company estimates the work to be completed before March 12. The extraction of PGMs will generate additional revenue sources and create new employment opportunities.
Barplats has entered into an agreement (See news release July 22, 2020) with Advanced Beneficiation Technologies Proprietary Limited of South Africa to complete an independent feasibility study (the “Feasibility Study”) for the development and construction of a new modular plant with a capacity to process the PGMs from the tailings redeposited from the Retreatment Project at a designated area of the Zandfontein Tailings Dam at an expected rate of 50,000 tons per month (the “Circuit H Project”). The Circuit H Project is being pursued to provide the opportunity to remine the tailings already deposited from the beginning of the Retreatment Project and extract additional value from PGMs. The Feasibility Study is in its final stages and the results are expected by the end of March 2021. The process was delayed by COVID-19 related impacts, particularly as it relates to the assay labs.
About Eastern Platinum Ltd.
Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company’s properties are situated on the western and eastern limbs of the Bushveld Complex, the geological environment that hosts approximately 80% of the world’s PGM-bearing ore.
Operations at the Crocodile River Mine currently include the re-mining and processing of its tailings resource, with an offtake of the chrome concentrate from the Barplats Zandfontein UG2 tailings facility operating at the Crocodile River Mine (the “Retreatment Project”) and the processing and extraction of PGMs.
COVID-19
No changes in South Africa alert regarding COVID-19. The Company continues to follow the health guidelines of the Government of South Africa. The Retreatment Project remains in full operation and continues to produce and transport chrome and PGM end products. The effects of COVID-19 are evolving and changing and the consequences of a further increase in the alert level in South Africa, temporary shutdown of any operations or other related issues cannot be reasonably estimated at this time, but could potentially have material adverse effects on the Company’s business, operations, liquidity and cashflows.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.