It’s a massive market opportunity and Deveron appears to be the early leader. It sounds complicated, but this business combines big data, carbon trading, Precision Ag . … and seems to be hugely scalable with strong repeat annual customer retention. Here it is in their own words from Deveron’s latest news release.
“Deveron is an agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes. The company employs a digital process that leverages data collected on farms across North America to drive unbiased interpretation of production decisions, ultimately recommending how to optimize input use. Our team of agronomists and data scientists build products that recommend ways to manage fertilizer, seed, fungicide and other farm inputs better. Additionally, we have a national network of data technicians that are deployed to collect various types of farm data, from soil to drone, that build a basis of our best-in-class data layers. Our focus is the US and Canada where 1 billion acres of farmland are actively farmed annually.”
Deveron shares had a big 2020 after a couple of early years proving the concept, ramping the revenues and demonstrating the stickiness and repeat frequency of the customers. The stock capped off a 300% increase with an oversold financing demonstrating strong demand even at the recent high.
Deveron’s recent $5.7 million financing provides expansion capital and puts a nice base on the stock at $0.35 / $0.40. These investors will want to make money.
Listing on TSXV has improved liquidity and visibility with the stock more than doubling since listing in 03.
Greencastle shares have been tracking Deveron in recent months. Greencastle is a founding shareholder of Deveron and owns 11 million shares. In the last 6 months, Greencastle has announced two new gold properties in Red Lake, Ontario. Greencastle is a possible restructure play for 2021. Their website also hints at cryptocurrencies going forward.
Vancouver, B.C. – September 24th, 2020 – Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its first hole at the newly discovered Franz Zone, part of the 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
Highlights from SN20-101 (Franz Zone)
(18.36 – 26.14m): 7.78 metres (m) of 14.84 g/t gold (Au) and 39.40 g/t silver (Ag).
(41.12 – 57.44m): 16.32m of 2.37 g/t Au and 31.15 g/t Ag.
The newly discovered Franz Zone is located approximately 2.8 kilometres along strike from the high-grade gold discovery at the South Zone; over half of this strike length has not been drill tested.
Gareth Thomas, President & CEO of Westhaven Gold stated: “Our goal at the start of this year was to
find additional high-grade gold zones at Shovelnose. The Franz Zone outcrop was discovered in mid-August and grab samples returned assays of up to 51.10 g/t gold. This drilling confirms that high-grade gold exists at depth and not just on surface. Though we only have the assays back for one hole, we are seeing similar veining and textures in other drill holes at Franz. We will release assays from holes as they are received. It is important to highlight that this 17,000-hectare property is still largely underexplored. We are confident we will find additional high-grade gold zones as mapping, prospecting, geophysics and drilling continues.”
Peter Fischl, Exploration Manager for Westhaven Gold, adds: “These drill results confirm the presence of high-grade gold mineralization encountered in surface grab samples collected on the Franz Zone. The zone is currently being tested with one drill. Eight holes have been completed on four sections spaced 50m apart. The zone has been intersected in all holes, giving a drill-tested strike length of 150m. The Franz Zone appears to be part of a single northwest trending multi-kilometre scale gold bearing vein system that includes the more recently drilled South Zone and the historic Mik and Tower showings. This vein system will continue to be the focus of much of the exploration effort at the Shovelnose Gold Project.”
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.
On behalf of the Board of Directors WESTHAVEN GOLD CORP.
Gareth Thomas, President, CEO & Director
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75 micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 micron. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.
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.
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
State and Federal Dignitaries Celebrate the Global First-Of-Its-Kind Clean Tech Direct Lithium Extraction Technology
EL DORADO, Ark., Sept. 21, 2020 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L), an innovative technology and lithium project development company, today marked the official commencement of operations at the Company’s Arkansas LiSTR Direct Lithium Extraction facility, with a virtual ribbon-cutting and video walk-through tour of the plant. Arkansas Governor Asa Hutchinson, Senator’s John Boozman and Tom Cotton, Representative Bruce Westerman, and local officials joined Standard Lithium CEO Robert Mintak and LANXESS Corp. CEO and President Antonis Papadourakis for the virtual event. A recording of the event can be found on the Company’s YouTube channel, website and its other social media outlets.
Plant Manager Bruce Seitz cutting the ribbon at the LiSTR Plant in El Dorado, Arkansas
Standard Lithium CEO Robert Mintak stated, “It was always our intention to do a physical ribbon cutting at the end of the commissioning stage but unfortunately that was not possible. The purpose of the virtual ribbon cutting is to highlight the efforts of individuals and teams that have brought the project to where we are today, an operating first-of-its-kind direct lithium extraction plant.”
“On behalf of LANXESS, our Board of Management and the Plastic Additives Business Unit I would like to congratulate Standard Lithium and especially the project team for the fantastic job you have done to this point,” said Antonis Papadourakis, LANXESS Corp. President and CEO. “We recently announced the formation of a group initiative for E-Mobility. We manufacture a number of specialty chemicals that modern battery systems cannot do without, such as phosphorous chemicals, hydrofluoric acid and flame retardants. As you could imagine, the commercial production of battery grade lithium, which is a key component in large scale lithium ion batteries, is also a crucial raw material for the desired expansion of Electric Mobility. Together with Standard Lithium we aim to use this demonstration plant to address this development and today we are one important step closer to realizing this goal.”
Arkansas Governor Asa Hutchinson commented, “In the two short years since Patty Cardin of LANXESS introduced me to the team of Andy Robinson and Robert Mintak of Standard Lithium, the company has moved from a big concept to building a working industrial scale demonstration plant for direct lithium extraction. This cutting-edge disruptive technology has the potential to put Arkansas on the global map for lithium, a critical mineral for the United States economy.”
Senator John Boozman stated, “It’s certainly a pleasure for me to congratulate Standard Lithium as we celebrate the launch of operations in Arkansas. I admire the vision and persistence of company leaders who work so hard through the unique challenges we are facing today to become fully operational. Standard Lithium’s investment will benefit the community, the region and the state of Arkansas.”
Senator Tom Cotton commented, “This is a cutting-edge project that could one day make America a leading producer of lithium and that’s no small matter because the lithium produced by this plant will power the products of advanced industries from smart phones to electric cars.”
Representative Bruce Westerman stated, “I’m very excited about this as well as everyone else should be because we are going to be making high quality lithium from Arkansas, a product that is in huge demand as we become more electrified around the world and in our country.”
The first-of-its-kind in the world Direct Lithium Extraction plant is installed at the Company’s project partner LANXESS’ South Plant facility near El Dorado, Arkansas. LiSTR is an environmentally friendly technology that selectively extracts lithium ions from tail brine that is a by-product of existing bromine production facilities run by LANXESS in south Arkansas. When compared to the conventional methods for recovering lithium from brine, the LiSTR process provides many benefits:
Vastly reduced recovery time – several hours versus as long as a year;
Significant efficiency gains – 90% recovery versus 40-60%;
Improved purity of the final product;
Unlocking of unconventional resources – Arkansas Smackover brines.
Planning for the project’s phased commercial development – with a target initial annual production of 20,900 tonnes of battery-quality lithium chemicals, roughly five times the current domestic production – is currently underway.
Today, the U.S. represents less than 2% of global lithium production and no new lithium mine has been built in the United States in almost 60 years. A Trump administration executive order named lithium among 35 “critical minerals” for which the government wants to boost domestic production and reduce its heavy reliance on imports. U.S. imports of lithium have nearly doubled since 2014 due in part to rising demand from Tesla, SK Innovation Co and others building battery plants in the country, according to the U.S. Geological Survey.
About Standard Lithium Ltd. Standard Lithium (TSXV: SLL) is an innovative technology and lithium development company. The company’s flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations. The company has commissioned its first-of-a-kind industrial scale Direct Lithium Extraction Demonstration Plant at LANXESS’ South Plant facility in southern Arkansas. The Demonstration Plant utilizes the Company’s proprietary LiSTR technology to selectively extract lithium from LANXESS’ tailbrine. The Demonstration Plant is being used for proof-of-concept and commercial feasibility studies. The scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. The company is also pursuing the resource development of over 30,000 acres of separate brine leases located in southwestern Arkansas and approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino County, California.
Standard Lithium is listed on the TSX Venture Exchange under the trading symbol “SLL”; quoted on the OTC – Nasdaq Intl Designation under the symbol “STLHF”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com
For further information, contact Robert Mintak, CEO, at (604) 259 2963
Mineral Mountain is pleased to announce that due to investor demand it has increased the size of its private placement previously announced on August 20, 2020. Mineral Mountain is now proposes to issue up to 4,266,666 units of the Company (the “Units”) for aggregate proceeds of up to $1,280,000.
Each Unit consists of one common share of the Company and one common share purchase warrant (a “Warrant”), with each warrant entitling the holder to purchase one common share of the Company (a “Warrant Share”) for a period of one (1) year from closing at an exercise price of C$0.40 per Warrant Share. All other terms are as described in the initial private placement news release.
The Company is also announcing that TSX Venture Exchange has granted the Company an extension on the closing of the private placement until September 30, 2020.
The net proceeds raised from the Private Placement are intended to be used to fund Company lease renewals in the Rochford District, a radiometric airborne survey, drill permitting, new lease acquisitions and, for corporate and general working capital purposes.
About Mineral Mountain
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is an exploration and development Company with a strong management and technical team which has many years of experience in the Homestake area. The parent Company, Mineral Mountain Resources Ltd., is based in Vancouver, B.C.
The Company now owns one of the largest land package in the Rochford Gold District located in the Black Hills of South Dakota, U.S.A. about 26 kilometers south of the richest and largest gold deposits in the world, the Homestake Mine gold system, which produced over 42 million ounce of gold! The Rochford District is situated within the most prospective exploration regions for gold in the United States.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking information
This release includes certain statements that may be deemed to be “forward-looking information” under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward looking- information. Forward looking information consists of statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward- looking information. Factors that cause the actual results to differ materially from those in forward-looking information include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company’s forward-looking information should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at http://www.sedar.com for further information.
September 22, 2020 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today provided an update on metallurgical testing underway at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.
The Company has retained Blue Coast Research Ltd. from Parksville, British Columbia to provide metallurgical test work and consultation services for the Dixie Project.
Metallurgical testing will provide the Company with estimates of likely gold recoveries,fineness, and recommendations on metallurgical flow sheet development and design for the various gold zones at the Dixie project, which are required for maiden resource publication.
7,465 occurrences of visible gold have been recorded in drill core to date by Great Bear. Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones have been noted to contain visible gold mineralization occurring as free gold and not bound to or within sulphide minerals. Examples are shown in Figure 1.
In the Red Lake district, gold deposits that are similarly dominated by free gold typically yield very high gold recoveries. The primary example of this occurs at the Red Lake Gold Mine operated by Evolution Mining Ltd., where recoveries of 94 – 97% are typically reported (NI 43-101 Technical Report, Goldcorp, 2015).
Samples from quartz veins, silica-sulphide replacement zones and disseminations within sedimentary and felsic host rocks from the LP Fault, Dixie Limb and Hinge zones have been, and continue to be, collected and submitted on an ongoing basis. Results will be released in batches as they are received.
Early stage petrographic work completed by Great Bear and past operators provides key evidence of how gold occurs in the rocks, and is being used to guide metallurgical testing. This work has identified free gold mineralization at both the Dixie Limb and LP Fault Zones. Petrographic work on Hinge zone samples is underway and is expected to yield similar results.
Great Bear has analyzed approximately 136,000 geochemical samples to date. Results suggest the gold mineralized system at Dixie generally has lower concentrations of trace elements such as arsenic, zinc and lead than are commonly observed within gold deposits across the Red Lake district, due to a lower content of accessory sulphide minerals. Other elements such as antimony and tellurium are also generally absent in the mineralized zones at Dixie.
Chris Taylor, President and CEO of Great Bear said, “We have catalogued over seven thousand occurrences of free visible gold in our drill core to date. In more than 99% of observed instances, gold occurs freely or on the edges of sulphide grains, suggesting potential for very high metallurgical recoveries, as has been observed at other free gold hosting deposits in the Red Lake district. This is reinforced by petrographic studies which show the same unencapsulated gold at microscope scale. We are therefore very optimistic about the high recovery potential for gold from all of our mineralized zones, and will provide results from metallurgical testing on an ongoing basis as these become available.”
Preliminary Metallurgical Analysis: Petrography
Metallurgical petrography involves the examination of thin sections of gold-hosting rock under a microscope to determine whether the gold occurs freely within silicate minerals (such as within quartz veins), where it is likely to require simpler processes to extract, or alternatively is bound within sulphide minerals, where more complicated extraction processes may be required.
Petrographic work by Great Bear and past operators confirms that gold at the Dixie project occurs freely in association with silicate minerals and is not encapsulated by sulphide mineral species, even when sulphide accessory minerals are present.
LP Fault Zone
2019 research conducted by Panterra Geoservices Inc. (“Panterra”) on behalf of Great Bear described gold bearing samples from the LP Faultzone as follows:
“…Several flakes of gold are present and all appear to lie within the same dismembered folia of interlocking quartz…The largest flake is around 0.2 mm and the flakes are visible with a hand lens. Some of the flakes are touching biotite or calcite. They are not associated with the cubic pyrite.”
A photomicrograph image of this gold mineralization is provided in Figure 2.
Dixie Limb Zone
A similar historical report completed in 2004 by Panterra on behalf of a past operator included optical petrography and scanning electron microscope (SEM) examination of gold mineralization from the Dixie Limb zone, where sulphide minerals dominated by pyrrhotite frequently accompany gold mineralization. The report concluded:
“…Several crystals [of gold] were attached to the edge of larger pyrrhotite crystals, but none was encapsulated.”
A photomicrograph image of this gold mineralization is provided in Figure 3.
Petrographic and metallurgical sampling and analysis are also underway at the Hinge zone. Based on more than one thousand in-core visible gold observations made to date, the Company expects similar results to those which have been reported from the LP Fault and Dixie Limb.
Figure 1: Examples of free gold in drill core from the Dixie Limb, Hinge and LP Fault zones. This is the dominant format of gold mineralization within these gold zones. Images are of selected core intervals and do not represent all of the gold mineralization at Dixie.
Figure 2: Free gold (yellow) within a sample from the LP Fault which assayed 130.97 g/t gold (Ross, 2019).
Figure 3: Petrographic report completed in 2004 by Fronteer Gold Corp. showing free gold (yellow) from the Dixie Limb zone (Ross, 2004).
About the Dixie Project
The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.
The Dixie Project hosts two principle styles of gold mineralization:
High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes. These mineralization styles are also typical of the significant mined deposits of the Red Lake district.
High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault). The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property. High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals. The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.
About Great Bear
Great Bear Resources Ltd.is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration. Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 300 km2 of highly prospective tenure across 4 projects: the flagship Dixie Project (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), and the Sobel Property (earning a 100% interest), all of which are accessible year-round through existing roads.
Qualified Person and NI 43-101 Disclosure
Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
This 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 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.
Great Bear 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.
Vancouver, British Columbia – September 22nd, 2020 – Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”) is pleased to announce the acquisition of an additional strategic property known as the “Conglin Creek Copper Property” located contiguous and north-west of the “MPD Property” owned by Kodiak Copper Corp. (“Kodiak”) (TSX-V: KDK). Kodiak previously reported an intercept in drill hole MPD-20-004 of 282 meters averaging 0.70 percent copper and 0.49 grams gold per tonne (see PR Kodiak, September 3, 2020).
The Conglin Creek property covers a strong magnetic high anomaly (see Figure 1) that trends in a north-west, south-east direction from the Gate and Prime zones on Kodiak’s MPF property. A soil geochemistry survey completed in 1973 indicates strong copper-in-soil anomalies trending north-west to north-south. Copper values of + 400 parts per million (“ppm”) occur of strike lengths of 125 to 150 meters, enclosed by copper anomalies with values of 200 – 400 ppm Cu over strike lengths of 400 to 500 meters. Note that the Company has not verified the values in government assessment filings, and they are not to be relied upon, and additional sampling, assaying and verification is required. The Company’s recent acquisition also covers the “Conglin Creek Showing” (Minfile 092HNE132, BC government designation). There has not been drilling on the Conglin Creek property, to the best of the Company’s knowledge.
Figure 1. Location map of the Conglin Creek Property on the BC Airborne Magnetic Overlay
Golden Lake further announces it has also staked an additional 6,009 hectares of land in the region which now brings its Copperview Project to 27,238 hectares in size.
Figure 2. Overall land package map now held by Golden Lake
Cumulative terms of the acquisition to earn a 100% interest in the Conglin Creek property call for Golden Lake to pay $100,000 cash and issue a total of two million shares over a 2 year time frame. A 2.5% NSR will be granted to the vendor of which 1.5% can be purchased back by the Company for $1.5 million.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property. The Jewel Ridge property is located on the south end of Nevada’s prolific Battle Mountain – Eureka trend, along strike and contiguous to Barrick Gold’s Archimedes/Ruby Hill gold mine to the north and Timberline Resources’ advanced-stage Lookout Mountain project to the south.
Golden Lake Exploration’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Justin Rensby, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
ON BEHALF OF THE BOARD “Mike England”
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
September 21, 2020, Vancouver, BC, Canada – BTU METALS CORP. (“BTU” or the “Company”) (TSX:V-BTU) (OTC:BTUMF) is pleased to announce a non-brokered private placement for aggregate proceeds of $2,062,500 consisting of 7,500,000 flow-through units at a price of $0.275 per unit. Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of BTU at a price of $0.30 for a period of 36 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec). The warrants issued with the units sold will be subject to an acceleration provision. After four months have elapsed from closing, if BTU’s shares trade above $1.00 for 10 consecutive trading days, the Company has the option to provide notice to the warrant holder that their warrants will expire if they are not exercised within 30 days. As part of the Offering, the Company is pleased to welcome SSI Asset Management Ltd (“SSI”), an independent asset management firm with an emphasis on precious metals and mining, as a long-term shareholder of BTU Metals.
“It is with great pleasure that we welcome Liechtenstein-based SSI Asset Management Ltd. as a significant strategic investor.SSI is focused on precious metals, has a strong track record, is a committed long-term investor and also brings a depth of technical expertise. With this new support and financing, BTU will significantly expand our upcoming drill program, due to commence in the next few days”, stated Paul Wood, CEO of BTU Metals.
Closing of the offering is subject to approval of the TSX Venture Exchange.
The gross proceeds of the Offered Securities will be used primarily for exploration and diamond drill programs at the Company’s highly prospective Dixie Halo project in Red Lake, Ontario.
Bruce Durham, VP Exploration of the Company stated; “The funds from this financing will allow us to expand the ongoing work program on the Dixie Halo project located adjacent to the significant gold discoveries being advanced by Great Bear Resources Ltd. The bulk of the funds will be spent on drilling new, potentially gold bearing exploration targets. Field work is on-going and a number of new targets have recently been defined as we expand the footprint of our exploration database. Drilling is due to start very shortly, our field staff are focussing their efforts on data gathering programs that need to be completed prior to freeze-up, and we are excited to be re-starting drilling operations.”
The securities issued under the offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities. A finders fee will be payable.
BTU is pursuing both high-grade gold targets and copper-dominant massive sulfide targets on its 200 square kilometre property that shares a 35 kilometre border with GBR. The property is 25 kilometres southeast of Red Lake, Ontario in an area with excellent access and infrastructure. The property is adjacent to and wraps around a significant portion of the GBR Dixie property. To date roughly one-third of the property area has also been analyzed using the Windfall Geotek Artificial Intelligence (“AI”) proprietary system, from which 35 high priority potential gold exploration targets have been identified for follow-up. BTU exploration personnel are on site, carrying out validation on various targets and carrying out follow-up investigation of numerous targets as the Company prepares for the commencement of the drill program.
The Company’s exploration work at its Red Lake, Ontario projects remains largely on schedule with no major disruption due to the COVID-19 government guidelines. The Company continues to monitor the situation, continues to be careful, and will adjust its activities and timelines as deemed appropriate.
Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101 has reviewed and approved the technical information in this press release.
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: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and using information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
Toronto, Ontario – Deveron Corp. (CSE: FARM) (“Deveron” or the “Company”) a leading agriculture digital services and insights provider in North America, , the Company has been accepted for listing on the TSX Venture Exchange (the “TSXV”) as a Tier 2 issuer, and its common shares will commence trading on September 21, 2020, on the TSXV under the symbol “FARM”.
David MacMillan, Deveron’s President and CEO commented, “Over the last four years, we have consistently grown our customer base and influence in helping farmers and agribusiness throughout North America collect reliable data through our turn-key networks of technicians that visit thousands of farm fields every year, collecting soil, drone and other types of field data. Additionally, our investment in our data insights division, continues to provide standardized interpretation and value-add recommendations to how to increase yield, reduce costs and improve farm outcomes, using the exponentially growing data sets that are generated on farms today. To commence trading on Canada’s leading exchange is an achievement we are incredibly grateful for and we believe will continue to add value to our stakeholders as our business continues to mature.”
In addition, the Company is pleased to announce that the board of directors of the Company has adopted a new stock option plan (the “2020 Stock Option Plan”). The maximum number of common shares issuable under the 2020 Stock Option Plan may not exceed 10% of the number of issued and outstanding common shares of the Company as at the date of a grant under the 2020 Stock Option Plan, as the case may be. Based on the number of common shares currently outstanding, 5,175,033 options can be granted pursuant to the 2020 Stock Option Plan. The Company currently has 4,275,000 options outstanding, leaving 900,033 options available for grant.
About Deveron UAS: Deveron is a leading agriculture technology company focused on providing data acquisition services and data insights in North America. Through its on-demand network of drone pilots and soil sampling technicians, the Company is providing scalable data acquisition solutions in the imagery and soil space. Additionally, through its wholly owned subsidiary Veritas Farm Management, the company provides growers in North America with independent data analytics and insights on the massive amount of data being generated on farms today.
David MacMillan President & CEO Deveron Corp. 416-367-4571 ext. 221 firstname.lastname@example.org
This news release includes certain “forward-looking statements” within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management’s current views with respect to possible future events and conditions and, by their nature, are based on management’s beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world- wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the “Risk Factors” section of our annual and interim Management’s Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at http://www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward looking statements.
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to report grade and tonnage results from mining of the first full bench containing the San Albino vein at its San Albino gold project (“San Albino”) in northern Nicaragua. The bench mined consisted of two separate three-meter half benches between 616 and 610 meters above sea level (“Bench 610”) and contained 1,002 ounces Au and 1,511 ounces Ag within 2,654 tonnes of diluted vein material grading 11.74 g/t Au and 17.7 g/t Ag.
The 2,654 tonnes of diluted vein material are now sitting in a high-grade stockpile awaiting processing. An additional 3,710 tonnes of historical dump material grading 2.31 g/t Au were also mined from Bench 610. This stockpiled historical dump material is expected to be used as initial mill feed during the ramp up to commercial production, which is expected from January 2021 to early Q2 2021.
Akiba Leisman, Chief Executive Officer of Mako states that, “the grades encountered in Bench 610 are extraordinary for any gold mining project, and especially for an open pit project like San Albino. Importantly, our operating team over their many years of mining experience have developed selective open pit mining techniques and are demonstrating that narrow high-grade structures can be mined open pit with limited levels of dilution. Although we are still in the early days of mining at San Albino, this is a great start to our operations.”
Diluted Vein Material Sent to Stockpile
Diluted Vein Tonnes*
Diluted Grade Au (g/t)
Diluted Grade Ag (g/t)
*Diluted Vein Tonnes are based on laser survey scans of material placed on the stockpile.
Breakdown of Total Tonnes Mined**
Grade Au (g/t)
Grade Ag (g/t)
Total Tonnes Mined**
**Total Tonnes Mined are estimated by subtracting laser survey scans of the topography before and after mining the bench. The Total Tonnes Mined is a combination of diluted vein material, historical dump material, low-grade material and waste, which are each segregated into different areas.
Sampling, Assaying, QA/QC and Grade Estimation
Vertical channel samples respecting the geology were collected on 5-meter sections at approximately 4-meter spacing using a gas-powered rock saw where the vein is competent, or a rock hammer where the rock is strongly fractured or brecciated. Special attention is applied to standardize the width and volume of material taken using the rock hammer or rock saw. The coordinates of the channel samples are surveyed using a total station surveying device.
Samples were kept in a secured logging and storage facility until such time that they were delivered to the Managua facilities of Bureau Veritas, an independent assay lab, for sample preparation. Pulps were sent to the Bureau Veritas laboratory in Vancouver for analysis. Gold was analyzed by standard fire assay fusion, 30-gram aliquot, AAS finish. Samples returning over 10.0 g/t Au are analyzed utilizing standard fire assay-gravimetric method. The Company follows industry standards in its quality assurance and quality control (“QA/QC”) procedures. Control samples consisting of duplicates, standards and blanks were inserted into the sample stream at a ratio of 1 control sample per every 3 to 4 samples. Analytical results of control samples confirmed reliability of the assay data.
The grade of the San Albino vein, low-grade and historical dump material were estimated using the inverse distance cubed method (“ID3”) from 1-meter composite intervals respecting the geologic boundaries. Samples were capped prior to compositing at 100 g/t Au in the San Albino vein, 7.0 g/t Au in the San Albino footwall, 4 g/t Au in the San Albino hanging wall and 7.0 g/t Au in the Dump Material. Capping values were based an analysis of previous diamond drilling results. The diluted grade of the San Albino vein was estimated using 3-D models of surveyed vein boundaries and surveyed mined surfaces.
Steven Ristorcelli, CPG, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this press release. Mr. Ristorcelli is the Principal Geologist at Mine Development Associates in Reno, Nevada working on the updated resource estimate for San Albino. Mr. Ristorcelli was at site in February 2020, but has not been able to visit the site to personally review the ongoing grade control program; however, he has reviewed the data from original certificates, QA/QC data, photographs of the geology, mapping and the grade-control model.
On behalf of the Board,
Akiba Leisman Chief Executive Officer
Mako Mining Corp. is a publicly listed gold mining, development and exploration firm. The Company is developing its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako’s primary objective is to bring San Albino into production quickly and efficiently, while continuing exploration of prospective targets in Nicaragua.
Forward-Looking Information: Forward-Looking Information: Some of the statements contained herein may be considered “forward-looking information” within the meaning of applicable securities laws. The forward-looking information contained herein is based on the Company’s plans and certain expectations and assumptions, including the expectation that narrow, high-grade structures at San Albino can be mined open pit with limited levels of dilution; that the average diluted grade will likely drift lower as more benches are mined at San Albino; obtaining positive results from Mako’s reconnaissance exploration program on its recently acquired Potrerillos Concession, including the various prospects on the Potrerillos Concession and in area directly adjacent to the northeast on the San Albino-Murra Concession; and the Company’s intention to complete a soil survey focusing on generating additional exploration targets, followed by trenching and comprehensive structural/geological mapping, which are anticipated to be drilled tested, in due course. Such forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation, that the Company’s Preliminary Economic Assessment for the San Albino Gold Deposit dated April 29, 2015 (the “PEA”) is preliminary in nature and there is no certainty that the PEA will be realized; the risk of economic and/or technical failure at the San Albino project associated with basing a production decision on the PEA without demonstrated economic and technical viability; that the Company is not able to declare commercial production in early 2021;the Company does not continue to find positive results from its reconnaissance exploration program and proposed drilling on the concessions; that exploration and assay results do not confirm continuity of mineralization as expected; political risks and uncertainties involving the Company’s exploration properties; the inherent uncertainty of cost estimates and the potential for unexpected costs and expense; commodity price fluctuations and other risks and uncertainties as disclosed in the Company’s public disclosure filings on SEDAR at http://www.sedar.com. Such information contained herein represents management’s best judgment as of the date hereof, based on information currently available and is included for the purposes of providing investors with the Company’s plans and expectations regarding the exploration of the Potrerillos Concession and the potential for expansion of the mineralization at San Albino, and may not be appropriate for other purposes. Mako does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.