OTC Markets Group Welcomes HPQ-Silicon Resources Inc. to OTCQX
NEW YORK, March 16, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced HPQ-Silicon Resources Inc. (TSX-V: HPQ; OTCQX: HPQFF), a Canadian-based company that offers innovative silicon (Si)-based solutions, has qualified to trade on the OTCQX® Best Market. HPQ-Silicon Resources Inc. upgraded to OTCQX from the Pink® market.Read More
HPQ-Silicon Resources Inc. begins trading today on OTCQX under the symbol “HPQFF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
“We are pleased to have qualified to trade on the OTCQX® Best Market from the Pink® market today. This will make it easier for U.S. investors to discover and invest in HPQ Silicon Resources Inc, as we continue our research, development and commercialization of advanced nanoscale silicon materials, in order to remain at the forefront of innovative processes for the storage and delivery of clean renewable energy,” said Bernard Tourillon, Chairman and CEO of HPQ Silicon Resources Inc.
Securities Law USA, PLLC acted as the company’s OTCQX sponsor.
Troilus Gold drills nine m of 3.65 g/t AuEq at Troilus
TROILUS SOUTHWEST ZONE STRIKE LENGTH EXPANDS BY A FURTHER +25%; DRILLS 3.65 G/T AUEQ OVER 9M, INCL. 5.32 G/T AUEQ OVER 6M AND 14.63 G/T AUEQ OVER 1M WITHIN 100M OF SURFACERead More
Troilus Gold Corp. has provided additional assay results from the Southwest zone on its 100-per-cent-owned Troilus gold project located in north-central Quebec, Canada. The Southwest Zone is a rapidly expanding gold zone located approximately 2.5 kilometres along strike from the main mineral corridor (Zone Z87 and J Zone), initially identified and drilled in late 2019 and early 2020 (See Figure 1).
Above average high-grade gold-bearing highlights include:
3.65 g/t AuEq over 9m, incl. 5.32 g/t AuEq over 6m, 14.63 g/t AuEq over 1m and 6.15 g/t AuEq over 1m
1.62 g/t AuEq over 9m, incl. 3.81 g/t AuEq over 3m and 5.87 g/t AuEq over 1m
1.18 g/t AuEq over 15m, incl. 2.54 g/t AuEq over 1m, 2.46 g/t AuEq over 2m, 1.67 g/t AuEq over 5m and 2.61 g/t AuEq over 2m
Mineralization observed in the Southwest Zone has been extended along strike by a further +25%, from 825m to +1km in Main Zone; West Zone extended by +100m and identified mineralization remains open
Northeast trending mineral continuity intersected over widths of +650 metres; potential new gold zone identified to the Southeast of the Main Zone with above average gold-bearing intervals
Down dip gold-bearing zones expanded to depths over 500 metres below pit shell proposed in the Preliminary Economic Assessment (“PEA”) (See press release dated August 31, 2020) and remain open
Nearly all intersections reported herein were located outside of the PEA pit shell
(See Table 1)
“We are very excited by these latest results obtained from the north east extent of the Southwest Zone, which advance further into the 2.5 kilometre gap between the Southwest Zone and Z87. Results to date demonstrate a strong continuity of mineralization from the Southwest Zone towards Z87 and J Zone. We have significantly expanded the footprint of this gold zone, more than 650 metres beyond the PEA pit shell at surface, and down dip over 500 metres below it,” commented Justin Reid, CEO of Troilus Gold. “As we continue stepping out to the northeast, closing the gap towards Z87, we are observing gold mineralization over large widths and at higher grades than the original Southwest mineral resource estimate, that remain open in all directions. Results continue to emphasize the scale potential of this vastly underdrilled gold system and we are highly encouraged by the rapid growth of this zone, which we believe will bode well for the next phase of engineering, the Pre-Feasibility Study, planned for completion in the second half of 2021.”
Additional Highlights & Assessment of Results:
All intersections encountered in holes ZSW20-214 and ZSW20-220 (section N10000, Figure 4) are located outside of the PEA pit shell. ZSW20-214 has extended the known gold bearing zone on strike by 200m NE of the PEA pit shell, and has widened it by more than 650m to the SE. 30m of +1.0g/t AuEq was intersected within 200m from surface, mineralization extends down dip up to 300m and remains open. Highlights include:
1.18 g/t AuEq over 15m, incl. 2.54 g/t AuEq over 1m, 2.46 g/t AuEq over 2m, 1.67 g/t AuEq over 5m and 2.61 g/t AuEq over 2m
1.91 g/t AuEq over 2m and 1.51 g/t AuEq over 3m
1.01 g/t and AuEq over 15m, incl. 3.10 g/t AuEq over 1m and 1.84 g/t over 3m
14.90 g/t AuEq over 1m
2.93 g/t AuEq over 1m
2.83 g/t AuEq over 1m
ZSW20-213 and ZSW20-210 (section N9900, Figure 5) confirmed higher grade extensions in a previously undrilled area of the PEA pit shell and identified down dip extensions ~300m below the PEA pit shell and remains open at depth and down dip of the ore trend. Intercept highlights include:
3.65 g/t AuEq over 9m, incl. 5.32 g/t AuEq over 6m, 14.63 g/t AuEq over 1m and 6.15 g/t AuEq over 1m
1.62 g/t AuEq over 9m, incl. 3.81 g/t AuEq over 3m and 5.87 g/t AuEq over 1m
0.95 g/t AuEq over 11m, incl. 1.14 g/t AuEq over 6m
ZSW20-171 was drilled 100m North of the PEA pit shell and intersected mineralization within 100m from surface. Intercept highlight includes:
3.33 g/t AuEq over 3m, incl. 3.46 g/t over 1m and 5.57 g/t over 1m
The Southwest Zone continues to demonstrate an ongoing trend of higher grade gold intercepts within a much broader disseminated mineralized zone, consistent with the main zone Z87. Gold is most often found to be mineralized in two distinct styles; disseminated along the interstices of sulphides, and vein hosted along boundaries of quartz carbonate veins. These two distinct styles occur together as one system, and produce the broad zones of mineralization depicted in the sections of Figures 3 and 4.
This Southwest Zone was initially discovered and drilled in late 2019 and early 2020 following new geologic modelling by Troilus’ technical team. A mere 8,500 metres drilled in this zone contributed an estimated Inferred resource of 580,000 oz AuEq (22.6 Mt, at avg. grade of 0.80 g/t AuEq) to the total mineral resource estimate of 4.96 Moz AuEq Indicated (177 Mt with an average grade of 0.87 g/t AuEq) and 3.15 Moz AuEq Inferred (116.7 Mt with an average grade of 0.84 g/t AuEq) (see press release announcing the latest mineral resource estimate dated July 28, 2020). Troilus will include all the recently announced Southwest results from late 2020 and ongoing 2021 results into an updated mineral resource estimate and Pre-Feasibility Study, targeted for completion in the second half of 2021.
Table 1: New Southwest Zone Drill Results Highlights Hole From (m)To (m)Interval (m)Inside/Outside of PEA Pit ShellAu Grade (g/t)Cu Grade (%)Ag Grade (g/t)AuEq Grade (g/t) TLG-ZSW20-171 71 72 1 Outside 1.03 0.005 0.25 1.03 130 131 1 Outside 1.34 0.042 6.10 1.46 273 276 3 Outside 3.29 0.009 2.22 3.33 incl. 273 274 1 Outside 3.40 0.013 4.60 3.46 incl. 274 275 1 Outside 5.54 0.012 1.80 5.57 TLG-ZSW20-210 23 24 1 Inside 1.12 0.002 1.60 1.13 61 72 11 Inside 0.97 0.002 0.29 0.98 86 95 9 Inside 1.61 0.002 0.25 1.62 incl. 86 89 3 Inside 3.80 0.002 0.25 3.81 incl. 86 87 1 Inside 5.87 0.002 0.25 5.87 283 284 1 Outside 0.98 0.049 1.40 1.05 466 467 1 Outside 2.06 0.023 0.25 2.09 474 485 11 Outside 0.73 0.154 2.72 0.95 incl. 474 475 1 Outside 0.82 0.148 6.50 1.07 incl. 478 484 6 Outside 0.87 0.187 2.83 1.14
TLG-ZSW20-213 48 49 1 Outside1.18 0.0440.25 1.23 110 111 1 Outside1.75 0.0040.25 1.76 158 167.15 9 Outside3.64 0.0040.45 3.65 incl. 159 165 6 Outside5.31 0.0040.56 5.32 incl. 161 161.75 1 Outside14.600.0022.70 14.63 incl. 164 165 1 Outside6.14 0.0020.25 6.15 403 404 1 Outside1.37 0.03514.701.57 411 412 1 Outside1.30 0.0050.25 1.30 TLG-ZSW20-214 8 9 1 Outside1.17 0.0000.03 1.17 85 87 2 Outside1.90 0.0110.03 1.91 94 97 3 Outside1.51 0.0020.03 1.51 100 101 1 Outside1.23 0.0010.03 1.23 162.75 167 4.3Outside0.76 0.0790.81 0.87 incl. 166 167 1 Outside1.13 0.1962.90 1.41 172 173 1 Outside1.29 0.0540.03 1.36 193 208 15 Outside0.93 0.0520.63 1.01 incl. 196 197 1 Outside3.07 0.0160.60 3.10 incl. 204 207 3 Outside1.76 0.0521.70 1.84 257 272 15 Outside1.15 0.0160.17 1.18 incl. 257 258 1 Outside2.53 0.0060.03 2.54 incl. 261 263 2 Outside2.43 0.0220.03 2.46 incl. 267 272 5 Outside1.65 0.0120.28 1.67 incl. 270 272 2 Outside2.59 0.0150.36 2.61 304 305 1 Outside1.00 0.0120.03 1.01 325.9 327 1.1Outside1.02 0.0151.00 1.05 335 336 1 Outside1.26 0.0140.03 1.28 350 351 1 Outside1.82 0.0120.03 1.83 383 387 4 Outside0.86 0.0110.03 0.88 incl. 386 387 1 Outside1.38 0.0080.03 1.39 412 413 1 Outside1.04 0.0231.10 1.08
TLG-ZSW20-220 36 38 2Outside0.88 0.0060.030.89 incl.36 37 1Outside1.01 0.0100.031.02 46 47 1Outside0.88 0.0280.600.92 1101111Outside14.900.0020.0314.90 1421431Outside2.82 0.0050.032.83 1471481Outside0.88 0.0032.600.91 1801811Outside1.47 0.0010.031.47 2202211Outside1.52 0.0080.031.53 3903911Outside0.64 0.2368.101.03 4084091Outside1.15 0.0090.031.16 5735741Outside1.20 0.0030.031.20 5845851Outside1.11 0.0070.701.13 5935941Outside2.92 0.0100.032.93
*Note drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with available information.
Quality Assurance and Control
During the Southwest Zone drill program in 2020, one metre assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at ALS Laboratory, a certified commercial laboratory, and the other half was retained for results, cross checks, and future reference. A strict QA/QC program was applied to all samples; which included insertion of one certified mineralized standard and one blank sample in each batch of 25 samples. Every sample was processed with standard crushing to 85% passing 75 microns on 500 g splits. Samples were assayed by one-AT (30 g) fire assay with an AA finish and if results were higher than 3.5 g/t Au, assays were redone with a gravimetric finish. For QA/QC samples, a 50 g fire assay was done. In addition to gold, ALS laboratory carried out multi-element analysis for ME-ICP61 analysis of 33 elements four acid ICP-AES.
The technical and scientific information in this press release has been reviewed and approved by Bertrand Brassard, M.Sc., P.Geo., Chief Geologist, who is a Qualified Person as defined by NI 43-101. Mr. Brassard is an employee of Troilus and is not independent of the Company under NI 43-101.
About Troilus Gold Corp.
Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 107,326 hectare Troilus property is located northeast of Chibougamau, within the Frotet-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.
Almaden Minerals Ltd. Announces US$10.3 Million Registered Direct Offering
VANCOUVER, British Columbia, March 16, 2021 (GLOBE NEWSWIRE) — Almaden Minerals Ltd. (NYSE American: AAU; TSX: AMM) (“Almaden”, “AAU” or “the Company”), today announced that it has entered into definitive agreements with institutional investors for the purchase and sale of 15,846,154 shares of its common stock and common stock warrants to purchase up to 7,923,077 shares of common stock at a combined purchase price of US$0.65 per share for aggregate gross proceeds of US$10.3 million in a registered direct offering. The common stock warrants will be immediately exercisable, have an exercise price of US$0.80 per share and will expire three years from the date of issuance. The closing of the offering is expected to occur on or about March 18, 2021, subject to the satisfaction of customary closing conditions.Read More
A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.
The Company intends to use the majority of the net proceeds of the offering for preparation and submission of applications for permits required to commence construction of the Ixtaca project, additional engineering work, exploration activities, legal and consulting costs, and for general working capital purposes.
This offering is being made in the United States only pursuant to an effective shelf registration statement on Form F-10 (File No. 333-252171) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on February 26, 2021. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. The Company also will file a prospectus supplement to its base shelf prospectus dated February 25, 2021 on a non-offering basis with applicable securities regulatory authorities in Canada. Copies of this supplement and base shelf prospectus will be available on SEDAR at www.sedar.com. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at email@example.com.
For the purposes of TSX approval, the Company intends to rely on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as the New York Stock Exchange.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Altus Strategies receives $22,500 from warrant exercise
Altus Strategies PLC has issued 20,000 ordinary shares of five pence par value each following the exercise of warrants at an exercise price of $1.125 (approximately 0.64 pound sterling) per warrant for gross proceeds of $22,500 (approximately 13,000 pounds sterling).Read More
The Company has made an application for the 20,000 Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). Admission is expected to occur at 08:00 a.m. on or around 19 March 2021 and the Ordinary Shares will rank pari passu with the Ordinary Shares already in issue. The gross proceeds from the exercise of the warrant of C$22,500 (approximately pounds sterling13,000) will be used for working capital purposes.
Total Voting RightsFollowing the issue of the Ordinary Shares, Altus will have 70,117,601 Ordinary Shares in issue which will also represent the total number of voting rights in the Company. The Company does not hold any shares in treasury. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the UK Financial Conduct Authority’s Disclosure and Transparency Rules.
About Altus Strategies PlcAltus Strategies (AIM:ALS)(TSXV:ALTS)(OTCQX:ALTUF) is a mining royalty company generating a diversified and precious metal focused portfolio of assets. The Company's focus on Africa and differentiated approach, of generating royalties on its own discoveries as well as through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit http://www.altus-strategies.com.
TriStar Doubles Indicated Resources as Drilling Continues at Castelo de Sonhos
Scottsdale, Arizona–(Newsfile Corp. – March 16, 2021) – TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF) (the Company or TriStar) is pleased to announce an interim mineral resource estimate for the Castelo de Sonhos gold project in Pará State Brazil. This model incorporates new information available at the end of 2020; drilling is still ongoing so an updated estimate will be completed in the upcoming months to be used in the prefeasibility study. The interim estimate shows that the CDS Project now has:Read More
1.5 Moz of gold in the Indicated category at a grade of 1.2 g/t contained in 40.1 Mt and
0.7 Moz in the Inferred category at a grade of 1.0 g/t gold contained in 22.2 Mt.
“This interim resource estimate already exceeds what we had targeted as a base for the preliminary feasibility study (PFS). We’re continuing to drill, and will have more drill results to add when resources are updated for the PFS. Grade remains strong, especially in Esperança South which anchors the project.” says Nick Appleyard, TriStar’s President and CEO. ” This interim model will be used to target any remaining drilling needed to eliminate gaps and to better delineate the extension that has opened up on the northern end of Esperança South, as well as to locate geotechnical investigations for pit wall stability.”
Table 1, Mineral resource estimate1 for the Castelo de Sonhos gold project (with an effective date of December 31, 2020) above a reporting cutoff 2 of 0.3 g/t Au. The Qualified Person is TriStar’s Vice President Mo Srivastava.
Region Classification Tonnage (Mt) Grade (g/t Au) Metal Content3
Esperança South Indicated 24.5 1.3 1.1
Inferred 10.4 1.1 0.4
Esperança East Indicated 2.4 1.1 0.1
Inferred 9.4 0.9 0.3
Esperança Center Indicated 13.1 0.8 0.3
Inferred 2.4 0.9 0.1
Project Total Indicated 40.1 1.2 1.5
Inferred 22.2 1.0 0.7
1Project totals may appear not to sum correctly since all numbers have been rounded to reflect the precision of Inferred and Indicated mineral resource estimates.
2The reporting cutoff corresponds to the marginal cutoff grade for an open pit with processing + G&A cost of $US 12/t, metallurgical recovery of 98% and a gold price of $US 1,250/oz. To meet the requirement of “reasonable prospect for eventual economic extraction” the mineral resources must also fall within a bounding pit shell with 55° walls. These are mineral resources and not reserves and as such do not have demonstrated economic viability.
3The metal content estimates reflect gold in situ, and do not include factors such as external dilution, mining losses and process recovery losses.
4TriStar is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing or political factors that might materially affect these mineral resource estimates.
The drill hole collar data base used for the model is the one available at the end of January 2021, at which point in time assays were available for all reverse circulation holes up through RC-20-550 and for all diamond drill holes up through CSH-20-491.
Shown in Figure 1, are examples of the litho-geochemical units and erosional surfaces on a cross-section interpreted with the help of GoldSpot Discoveries. Across the entire plateau, 15 units were interpreted and rendered as wire-framed solids. Some of these are sedimentary units that run sub-parallel to the bowl-shaped stratigraphy of the plateau’s meta-sediments. Others do not run parallel to the general bedding direction; instead, they are non-sedimentary rocks that cut across the stratigraphy. These were grouped into seven domains, separated by two erosional unconformities.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4509/77398_be9d808d548c2878_002.jpg
Figure 1, Model of litho-geochemical units on cross-section B-B’ on the southwest arm of Esperança South, where the mafic dykes cross. NOTE: except for silica, the specific elements used in the names of the clusters are not major constituents; they occur only in minor and trace quantities, but the machine learning cluster analysis identifies them as important discriminators.
To view an enhanced version of Figure 1, please visit:
The resource block model uses 20×20×4m blocks, the horizontal dimension of the blocks is slightly less than half of the 50m drill spacing. The block height is the same as the bench height chosen for the Preliminary Economic Assessment done in 2018.
In each block, the volumetric contribution of the seven domains was calculated directly from the litho-geochemical wireframes and the erosional unconformities. Approximately half of the blocks lie entirely inside a single domain; the other half have a mixture of two or more domains.
All rock in the resource model is assumed to have a dry bulk density of 2.68 t/m3, the average of the density measurements done on drill core in 2018.
For each domain that contributes to a block, Multiple Indicator Kriging (MIK) was used to estimate the gold grade distribution of its selective mining units (SMUs) using nearby samples from the same domain, with the SMU size based on planned equipment size, bench height, blast hole spacing, and on the experience of the operating mine at Tarkwa, in the same type of paleo-placer gold deposit. A 200×200×25m search ellipsoid was used for the MIK estimates for every domain in every block, aligned with the variogram model for the dominant domain.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4509/77398_be9d808d548c2878_003.jpg
Figure 2, Median indicator variography for the ferrous sediments, with the red line showing the omnidirectional variogram in the bedding plane and the dotted dark red line showing the variogram perpendicular to bedding.
To view an enhanced version of Figure 2, please visit:
Classification of Mineral resources
The mineral resources in Table 1 are constrained by open pit shells to meet the requirement that resources have “reasonable prospects for eventual economic extraction”. Within the pit shell material above a cut-off grade of 0.3 g/t was classified as Indicated in blocks for which grade estimation was able to use data from at least two separate drill holes in four octants, and for which the average distance to the nearby data was less than half the variogram range; these criteria are almost always met only in the areas where the drill holes are more closely spaced than 50m. All other blocks with grade estimates were classified as Inferred resources; since the search ellipse was aligned with the variogram ranges, Inferred blocks must have at least one sample within the range of the dominant domain variogram. These block-by-block classification codes were then spatially smoothed to avoid inconsistent classification of isolated blocks.
Japan Gold drills 0.35m of 21.7 g/t Au at Ohra-Takamine
Japan Gold Corp. has provided the results of the three scout drill holes completed at its Ohra-Takamine project in southern Kyushu. Drilling encountered narrow high-grade gold vein intercepts below the Urushi mine and multiple gold-anomalous sheeted quartz vein zones below the Ohra mine workings.Read More
Ohra-Takamine central mine corridor scout drill program
Three scout holes were drilled (total of 1,624.0 metres (m)) along the central 3.5-kilometre (km) corridor of alteration and epithermal-gold mineralization defined by the Ohra, Takamine and Urushi historic mines. Production records prior to the government-imposed closure of these mines in 1943 include high-grade vein shoots with grades greater than 20 grams per tonne gold at the Ohra mine and between 50 to 100 g/t (1) at the Urushi mine. Drilling targeted below these high-grade shoots, which lie coincident with the surface soil geochemical anomalies and controlled-source audio-frequency magnetotellurics geophysical anomalies.
Drill hole OTDD20-001, targeting the down-dip extension of the Urushi mine workings, intersected seven narrow, gold-anomalous quartz veins, including highlight intercepts of:
0.35 metre at 21.7 g/t Au and 13 g/t Ag from 233.95 m;
4.15 m at 1.6 g/t Au and 2.4 g/t Ag from 222.6 m (including 0.55 m at 3.5 g/t Au and 4.5 g/t Ag from 225.7 m and 0.25 m at 6.5 g/t Au and 7.5 g/t Ag from 226.0 m);
1.2 m at 1.5 g/t Au and 31 g/t Ag from 114.4 m (including 0.4 m at 3.2 g/t Au and 84 g/t Ag from 115.2 m).
Drill hole OTDD19-001, drilled from the north side of the Ohra mine, intersected a 4.5 m wide (downhole width) quartz vein from 227 m down hole. A 0.35 m wide portion of the vein returned 1.7 g/t Au and 5.0 g/t Ag.
Drill hole OTDD20-002, targeting beneath the Ohra mine workings, intersected numerous broad intervals of intense alteration and quartz veining from a downhole depth of 206 m to end of hole (584 m). These zones range from four to 40 m in downhole length.
Drill intersections include the significant mineralized intervals in attached table.
ANOMALOUS DRILL HOLE INTERCEPTS
Hole ID Total depth From (m) To (m) Interval (m) Au (ppm) Ag (ppm)
OTDD19-001 455.00 231.15 231.50 0.35 1.7 5.0
OTDD20-001 602.00 114.40 115.60 1.20 1.5 31.0
Incl. 115.20 115.60 0.40 3.2 84.0
166.95 167.20 0.25 1.1 1.8
222.60 226.75 4.15 1.6 2.4
Incl. 225.70 226.25 0.55 3.5 4.5
Incl. 226.00 226.25 0.25 6.5 7.6
233.95 234.30 0.35 21.7 13.3
326.90 327.70 0.80 1.3 3.0
329.10 329.35 0.25 1.5 4.0
383.50 383.90 0.40 2.9 4.0
OTDD20-002 584.00 No significant result
The mineralization intersected in the upper half of drill hole OTDD20-001, is separate and parallel to the veins mined in the Urushi workings. The up-dip extension of these veins is untested at the elevation of the Urushi mine workings and may represent en echelon (parallel) repetitions of the high-grade veins mined at Urushi. The mineralized veins intersected below 326.9 m downhole appear to represent the down-dip extension of vein structures mined historically in the Urushi workings.
Within the mine alteration corridor, eight drill holes were completed as part of government-funded geological survey work by the Metal Mining Agency of Japan (MMAJ) during the 1980s. Two drill holes located north of the Urushi mine encountered narrow high-grade mineralization and indicate the potential for mineralized extensions along the north side of the mine workings. The other MMAJ drill holes failed to reach the interpreted depth projection of the Ohra-Takamine vein system, hence did not encounter significant mineralization.
Drill hole OTDD20-002 targeted the depth extent of three wide, banded epithermal veins mined from surface over an about 140 m vertical extension at the Ohra mine. Surface outcrops of the three Ohra veins are up to 4.6 m wide and vary in width between 0.3 and 8 m underground (2). Eight discrete zones of intense sheeted to stockwork veining were intersected, varying in downhole length between four and 40 m. These zones contain numerous banded and single-phase, fine-grained quartz and quartz-carbonate veins and veinlets up to 30 centimetres (cm) wide.
The five vein zones intersected between 228 and 360 m, immediately below the Ohra workings, contain anomalously elevated gold values and are interpreted to represent the feeder structures to the Ohra veins mined in historical workings. Three vein network zones intersected deeper in the drill hole, between 420 to 523 m, could represent the feeder system to a separate, parallel vein system. The lower three vein zones show limited exposure at the surface, about 250 m above, but their surface expression is characterized by strong, pervasive clay alteration and elevated gold and pathfinder element geochemistry in soils. Sinter subcrops, and coincident CSAMT, soil and alteration anomalism, are traceable along the mine corridor for 1.5 km from the Ohra mine toward the Takamine mine representing the strike extension of the Ohra mine veins.
Conclusions and next steps
Information gained from these scout drill holes has been assessed along with coincident anomalies of CSAMT, soil geochemistry, alteration and geological mapping. These results have defined a series of untested targets that lie both along strike of, and parallel to, the historic mines. The combined strike length of these more coherent geophysical-geochemical-alteration anomalies represents a series of priority drill target areas with a cumulative strike length of over five km. A separate, coincident soil geochemical-alteration anomaly extends the Ohra alteration system another 2.5 km along strike to the northeast. Geophysical surveys are planned to further define this large anomaly.
The discovery of new vein zones with limited or weak surface outcrop in the vicinity of the Urushi mine as well as between the Ohra and Takamine mines gives encouragement for the exploration potential both along the trend and below cover further along strike to the southwest, where coincident soil and CSAMT anomalies are partly concealed by younger postmineral geology.
The company has 11 additional drill pad locations permitted for drilling along the central mine corridor. With the definition of these new target zones, further drill pads will be permitted to properly test and advance the Ohra-Takamine project.
(1) Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan.
(2) S. Kim (1938). The Geology and Deposits in the Ohra Mine. The Mining Magazine, vol. 15, no. 3, p. 15-19.
Sampling techniques and assaying
The drilling results discussed in this news release are from drill core samples obtained by PQ, HQ and NQ-size triple tube diamond core drilling using a Longyear 38 and PMC700 man-portable drill rigs owned and operated by the company. The drilling program was fully supervised by company senior geologists at the drilling site.
Drill core was collected in plastic core trays at the drill site and transported by road in company vehicles to its core shed storage facility in the nearby Urushi village, located centrally within the project area. The drill core was carefully logged, photographed and sample intervals marked up along predicted mineralized and selected unmineralized intervals by Japan Gold KK senior project geologists.
Sample lengths varied from 0.2 to 1.0 m, depending on the positions of geological contacts and variations in vein texture and composition. The core was split by a diamond rock saw supervised by project geologists. Half-core samples were collected from the entire length of each designated sample interval and placed into individual labelled, self-sealing calico bags for secure packaging and transport to the laboratory. The half-core samples weighed between one to eight kilograms depending on the sample length and core size. A chain of custody was established between the company and receiving laboratory to ensure the integrity of the samples during transportation from the site to the lab. The samples were sent in batches to ALS Laboratories in Vancouver, Canada, for sample preparation and assaying.
Samples were crushed, pulverized and assayed for gold 50-gram charge fire assay/AAS Finish (Au-AA24; 0.005-part-per-million lower detection limit) and a 48-multielement by four-acid digest with ICP-MS determination (ME-MS61L; Ag 0.002 ppm lower detection limit).
Certified reference materials (CRMs) were inserted by Japan Gold KK at every 20th sample to assess repeatability and assaying precision of the laboratory. In addition, the laboratory applied its own internal quality control procedure that includes sample duplicates, blanks and geochemical standards. It reports these results with the certified assay report. Laboratory procedures and quality assurance/quality control protocols adopted are considered appropriate. The CRMs and internal QC/QA results fall within acceptable levels of accuracy and precision and are considered to lack any bias.
Dynacor Announces February 2021 Sales of US$11.9 Million (Unaudited) (C$15.1 Million) a 105% Year Over Year Increase
MONTREAL, March 16, 2021 (GLOBE NEWSWIRE) — Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the “Corporation”), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced US$11.9 million (unaudited) (C$15.1 million) in sales for February 2021 compared to US$5.8 million (unaudited) (C$7.7 million) in February 2020, a 105% increase.Read More
Following the Corporation’s January purchase record of 9,931 tonnes, the ore purchase level continues to rise with over 11,248 tonnes purchased in February 2021, a 69.3% year over year increase compared to the 6,642 tonnes in February 2020. The average selling price of gold per ounce in February 2021 was US$1,785.
Monthly sales to date in 2021 of US$28 million (unaudited) (C$35.6 million) is for the first two months of the year well on track to exceed management’s 2021 sales guidance of $US150 million (C$191 million).
(1) sales are converted using the monthly average exchange rate
The solid start for 2021 enables the Corporation to increase its ore inventory, secure its first-quarter production through the annual rainy season, outpace the plant capacity, and increase work schedule.
HPQ-Silicon Resources begins trading on OTCQX
HPQ-Silicon Resources Inc.’s common shares are now trading on the OTCQX Best Market under the ticker symbol of HPQFF. The OTCQX Best Market is the highest market tier of OTC Markets, which operates financial markets for 11,000 U.S. and global securities. Trading on OTCQX will enhance the visibility and accessibility of the Company to U.S. investors. HPQ common shares will continue to trade on the TSX Venture Exchange under the symbol HPQ, and on the Frankfurt Stock Exchange under the symbol UGE.Read More
Upgrading to the OTCQX Market is an important step as it provides transparent trading in our shares for our U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
“We are pleased to have qualified to trade on the OTCQXtrademark Best Market from the Pinktrademark market today. This will make it easier for U.S. investors to discover and invest in HPQ Silicon Resources Inc, as we continue our research, development and commercialization of advanced nanoscale silicon materials, in order to remain at the forefront of innovative processes for the storage and delivery of clean renewable energy,” said Bernard Tourillon, Chairman and CEO of HPQ Silicon Resources Inc.
Furthermore, HPQ Silicon is in the process of securing Depository Trust Company (“DTC”) eligibility for its common shares. DTC manages electronic clearing and settlement of publicly traded companies across the United States and in 131 other countries. Trading through DTC allows for cost-effective clearing and guaranteed settlement, simplifying and accelerating the settlement process of daily trades.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on https://www.otcmarkets.com/stock/HPQFF/quote.
Roscan Gold Corporation Announces Pricing of Over Subscribed Overnight Marketed Public Offering
TORONTO, March 16, 2021 (GLOBE NEWSWIRE) — Roscan Gold Corporation (TSXV:ROS) (“Roscan” or the “Company”) is pleased to announce that, in connection with its previously announced overnight marketed public offering (the “Offering”), it has determined to offer and sell 35,714,500 common shares (“Common Shares”) at a price of $0.42 per Common Share (the “Issue Price”) for aggregate proceeds of approximately $15,000,090 (the “Offering”). Closing of the Offering is expected to occur in early April, 2021 and is subject to regulatory approval, including that of the TSX Venture Exchange.Read More
The Common Shares to be issued under the Offering will be offered by way of short form prospectus in the provinces of British Columbia, Alberta, and Ontario.
In connection with the offering, the Company has agreed to grant a syndicate of agents led Clarus Securities Inc.. and including Beacon Securities Inc., Echelon Wealth Partners Inc., Cormark Securities Inc. and Paradigm Capital (the “Agents”) a cash commission equal to 6.0% of the gross proceeds of the Offering, and, as additional consideration, the Agents will be issued non-transferrable Common Share purchase warrants (“Broker Warrants”) equal to 6.0% of the aggregate Common Shares sold under the Offering. Each Broker Warrant is exercisable into one Common Share at a price of $0.55, for a period of 12 months following the closing of the Offering.
The Company intends to use the proceeds raised from the Offering to fund its ongoing exploration program in Mali and to fund working capital and other general corporate purposes.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
No securities regulatory authority has either approved or disapproved of the contents of this news release.