Category Archives: Recent Updates

Recent Updates

Metals Update 05/04/2021

Viva Gold files documents for meeting re takeover

Viva Gold Corp. has filed and commenced mailing of materials to the shareholders of Viva, including the management information circular of the company dated March 25, 2021, for the special meeting of Viva shareholders to be held on May 3, 2021, in connection with the proposed acquisition by Golden Predator Mining Corp. of all of the issued and outstanding common shares of the company by way of a plan of arrangement.

Materials for the Meeting, including the Circular, are available on SEDAR at http://www.sedar.com and are available on the Company’s website at https://vivagoldcorp.com/special-meeting.

Benefits of the ArrangementAttractive Premium: A 35% to Shareholders over the 20-day VWAP, and 35% to the 30-day VWAP of the Viva Shares as at March 1, 2021.Future Growth: The Arrangement provides Shareholders the opportunity to continue to participate in the future growth of Viva's Tonopah Gold Project, as well as in a larger entity with stronger growth potential from a more diversified asset base supported by the financial resources available to GPY to develop such asset base.Fairness Opinion: The Viva Board received an Evans & Evans Opinion to the effect that, as of March 1, 2021, the consideration to be received by Shareholders pursuant to the Arrangement is fair, from a financial point of view, to Shareholders.Increased Liquidity: The Arrangement is anticipated to provide Shareholders with increased liquidity by the receipt of GPY Shares for their existing Viva Shares, due to GPY's larger market capitalization and access to capital.Significantly strengthened management and leadership team: An enhanced GPY management team with balanced and complimentary skillsets with proven mine building capacity and in-house technical expertise to advance projects.Cost Synergies and Enhanced balance sheet: Reduced overhead combined with a good cash position and marketable securities.

THE CONSIDERATION1.60 Class A Common Shares of GPY for each Viva Share held (the "Consideration"). The Consideration represents a 35% premium to the 30-day volume weighted average price of the Viva Shares as of March 1, 2021.

BOARD RECOMMENDATIONAfter a recommendation from a Special Committee to the Board, the board of directors of Viva (the "Board") voted in favor of this Arrangement. As a result, the Board recommends that Viva Shareholders vote in favor of the Arrangement.

THE NEW COMBINED TEAMOn closing of the Arrangement, subject to TSX Venture Exchange approval, the directors of GPY will consist of: William Sheriff (Executive Chair); James Hesketh (Chief Executive Officer); two nominees selected by Viva and three nominees selected by GPY. Management of GPY will consist of James Hesketh, President and Chief Executive Officer, Steven Krause, Chief Financial Officer, and Michael Maslowski, Chief Operating Officer.The Board recommends that Shareholders vote FOR the Arrangement

Your vote is important regardless of the number of Viva Shares you own. As a Shareholder, it is very important that you read the Circular and related materials with respect to the Meeting carefully and then vote your Viva Shares.

Viva MeetingThe Meeting will be held on May 3, 2021 at 2:00 p.m. (Vancouver Time), at #302 – 8047 199 Street, Langley BC V2Y-0E2, Canada.

At the Meeting, Shareholders will be asked to consider and, if thought advisable, to pass a special resolution approving the Arrangement. The Circular contains a detailed description of the Arrangement, as well as certain additional information relating to Viva.

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY

Shareholder Questions and AssistanceIf you have any questions or require assistance voting your Viva Shares, please contact our proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 toll-free in North America, or outside North America at +1 416 304-0211, or by e-mail at assistance@laurelhill.com.

Global Metals & Mining Investor Conference Presentations Now Available for On-Demand Viewing

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations

NEW YORK, April 5, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the March Extractive Industry lnvestor Conference are now available for on-demand viewing.

REGISTER OR LOGIN NOW TO VIEW THE PRESENTATIONS: https://bit.ly/2PllJGf

The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the “virtual trade booth” for the next three weeks.

Participating Companies:                                   

PresentationTicker(s)
 Keynote Presentation: By-Passing China in the Economic RecoveryChristopher Ecclestone, Mining Strategist Hallgarten & Co.
Appia Energy Corp.(OTCQB: APAAF | CSE: API)
Osisko Metals Inc.(OTCQX: OMZNF | TSX-V: OM)
Nova Royalty Corp.(OTCQB: NOVRF | TSX-V: NOVR)
Northern Minerals Ltd.(Pink: NMEX | ASX: NTU)
 Luncheon Speaker: Can Critical Metal Supply Chains be Economically Constructed in the Free World?Jack Lifton, Founder, Technology Metals Research
Energy Fuels Inc.(NYSE American: UUUU | TSX: EFR)
Vision Lithium Inc.(OTCQB: ABEPF | TSX-V: VLI)
Electric Royalties, Ltd.(Pink: ELECF | TSX-V: ELEC)
Intercontinental Gold and Metals Ltd.(TSX-V: ICAU)
Canada Silver Cobalt Works Inc.(OTCQB: CCWOF | TSX-V: CCW)
Renforth Resources Inc. – Nickel/Surimeau(OTCQB: RFHRF | CSE: RFR)
Thor Mining PLC(OTCQB: THORF | ASX: THR | AIM: THR)
Vital Metals Ltd.(Pink: VTMXF | ASX: VML)
Lake Resources NL(OTCQB: LLKKF | ASX: LKE)
Keynote Presentation: The Outlook for Precious Metals PricesJeffrey M. Christian, Managing Partner CPM Group
Amex Exploration Inc.(OTCQX: AMXEF |TSX-V: AMX)
Bonterra Resources Inc.(OTCQX: BONXF | TSX-V: BTR)
Vanstar Mining Resources, Inc.(Pink: VMNGF | TSX-V: VSR)
Signature Resources Ltd.(OTCQB: SGGTF | TSX-V: SGU)
Luncheon Speaker: Silver: The Technometal New Demand, New Policy, New FuturePhillips S. Baker, Jr., President & CEO of Hecla Mining
VanGold Mining Corp.(OTC VGLDF |TSX-V: VGLD)
Golden Valley Mines Ltd.(OTCQX: GLVMF | TSX-V: GZZ)
Renforth Resources Inc. – Gold/Parbec(OTCQB: RFHRF | CSE: RFR)
Trillium Gold Mines Inc.(OTCQX: TGLDF | TSX-V: TGM)
Aztec Minerals Corp.(OTCQB: AZZTF | TSX-V: AZT)
Prosper Gold Corp.(OTCQX: PGXFF | TSX-V: PGX)
Silver Bullet Mines, Inc.(Private Company)
Honey Badger Silver Inc.(Pink: HBEIF | TSX-V: TUF)
Fabled Silver Gold Corp(OTCQX: FBSGF | TSX-V: FCO)

To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

Global Metals & Mining Investor Conference Presentations Now Available for On-Demand Viewing

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations

NEW YORK, April 5, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the March Extractive Industry lnvestor Conference are now available for on-demand viewing.

REGISTER OR LOGIN NOW TO VIEW THE PRESENTATIONS: https://bit.ly/2PllJGf

The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the “virtual trade booth” for the next three weeks.

Participating Companies:                                   

PresentationTicker(s)
 Keynote Presentation: By-Passing China in the Economic RecoveryChristopher Ecclestone, Mining Strategist Hallgarten & Co.
Appia Energy Corp.(OTCQB: APAAF | CSE: API)
Osisko Metals Inc.(OTCQX: OMZNF | TSX-V: OM)
Nova Royalty Corp.(OTCQB: NOVRF | TSX-V: NOVR)
Northern Minerals Ltd.(Pink: NMEX | ASX: NTU)
 Luncheon Speaker: Can Critical Metal Supply Chains be Economically Constructed in the Free World?Jack Lifton, Founder, Technology Metals Research
Energy Fuels Inc.(NYSE American: UUUU | TSX: EFR)
Vision Lithium Inc.(OTCQB: ABEPF | TSX-V: VLI)
Electric Royalties, Ltd.(Pink: ELECF | TSX-V: ELEC)
Intercontinental Gold and Metals Ltd.(TSX-V: ICAU)
Canada Silver Cobalt Works Inc.(OTCQB: CCWOF | TSX-V: CCW)
Renforth Resources Inc. – Nickel/Surimeau(OTCQB: RFHRF | CSE: RFR)
Thor Mining PLC(OTCQB: THORF | ASX: THR | AIM: THR)
Vital Metals Ltd.(Pink: VTMXF | ASX: VML)
Lake Resources NL(OTCQB: LLKKF | ASX: LKE)
Keynote Presentation: The Outlook for Precious Metals PricesJeffrey M. Christian, Managing Partner CPM Group
Amex Exploration Inc.(OTCQX: AMXEF |TSX-V: AMX)
Bonterra Resources Inc.(OTCQX: BONXF | TSX-V: BTR)
Vanstar Mining Resources, Inc.(Pink: VMNGF | TSX-V: VSR)
Signature Resources Ltd.(OTCQB: SGGTF | TSX-V: SGU)
Luncheon Speaker: Silver: The Technometal New Demand, New Policy, New FuturePhillips S. Baker, Jr., President & CEO of Hecla Mining
VanGold Mining Corp.(OTC VGLDF |TSX-V: VGLD)
Golden Valley Mines Ltd.(OTCQX: GLVMF | TSX-V: GZZ)
Renforth Resources Inc. – Gold/Parbec(OTCQB: RFHRF | CSE: RFR)
Trillium Gold Mines Inc.(OTCQX: TGLDF | TSX-V: TGM)
Aztec Minerals Corp.(OTCQB: AZZTF | TSX-V: AZT)
Prosper Gold Corp.(OTCQX: PGXFF | TSX-V: PGX)
Silver Bullet Mines, Inc.(Private Company)
Honey Badger Silver Inc.(Pink: HBEIF | TSX-V: TUF)
Fabled Silver Gold Corp(OTCQX: FBSGF | TSX-V: FCO)

To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access.  Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

Nighthawk Reports Remaining 2020 Results for Colomac and Treasure Island

Colomac Highlight: Hole C20-07 returned 3.00 g/t Au over 32.7 m

Treasure Island Highlight: T20-09 returned 207.18 g/t Au over 5.5 m (uncut), including 2,260 g/t Au over 0.5 m

TORONTO, ON / ACCESSWIRE / April 5, 2021 / Nighthawk Gold Corp. (“Nighthawk” or the “Company“) (TSX:NHK)(OTCQX:MIMZF) is pleased to report the remaining results from its 2020 exploration program on the Colomac Deposit (“Colomac“) and the Treasure Island Zone (“Treasure Island“), within its 100% owned Indin Lake Gold Property (930km2 land package), located in the Northwest Territories of Canada.

Assay results from the remaining drill holes completed at Colomac (10 holes for 6,433 metres, see Table 1, Figure 1), and Treasure Island (3 holes for 1,186 metres, see Table 2, Figure 7), have been received and returned significant results at both locations.

Richard Roy, VP Exploration commented: “We are pleased to report on the remaining 2020 drill results at Colomac and Treasure Island. Treasure Island encountered high-grade results, where hole T20-09 returned 207.18 g/t Au over 5.5 metres, including a single assay of 2,260 g/t Au over 0.5 metres. Consistent higher grade at Treasure Island remains to be demonstrated by drilling. With these recent Treasure Island results now in hand, all results to date will be compiled, analysed, and modeled in order to establish its potential to add higher-grade mineralization to the global resource base.

“The Colomac results illustrate the potential for resource growth at depth, however drilling in 2021 will focus on further delineation of near-surface mineralization in an effort to increase the in-pit resources. The potential at depth on Colomac remains very significant, but quality near surface targets remain untested at Colomac and will be prioritized in 2021.”

Colomac:

  • Hole C20-07C (Figure 2) was completed at Zone 3.5 and returned 3.00 grams per tonne gold (“g/t“, “Au“) over 32.7 metres (“m“), supporting the continuity of the higher-grade mineralization previously obtained at depth.
  • Holes C20-14 and C20-17(17B) tested Zone 2.5 at depth. Although no extensively wide intervals were obtained, hole C20-17 (Figure 3), did return a high-grade interval of 12.36 g/t Au over 4.3 m (26.08 g/t Au uncut) including a 0.5 m sample assaying 218.00 g/t Au.
  • Holes C20-15(15B), C20-16, C20-18(18B), and C20-20 were drilled on Zone 1.5 testing the depth extension of the mineralization. Significant intervals were obtained, particularly in holes C20-18B (Figure 4), which returned 1.67 g/t Au Au over 61 m (1.72 g/t Au uncut), and C20-20 returned 2.44 g/t Au over 30.25 m (Figure 5). These results demonstrate that Zone 1.5 remains wide and well mineralized at depth, adding to the resource potential within this zone.
  • Holes C20-19 (Figure 6), tested Zone 2.0 and returned a wide intersection of 1.03 g/t Au over 64.1 m, including 2.88 g/t Au over 7.5 m at. Drilling at Zone 2.0 continues to encounter both extensive widths and higher-grade intervals within the mineralization.

Treasure Island:

  • The remaining three holes completed at Treasure Island (Main Zone), returned significant higher grade gold mineralization at depth, including:
    • Hole T20-07 (Figure 8) returned 5.62 g/t Au over 3.3 m;
    • Hole T20-09 (Figure 9) returned 4.65 g/t Au over 2.05 m, and 207.18 g/t Au over 5.5 m (uncut), including a single assay result of 2,260.00 g/t Au over 0.5 m; and
    • Hole T20-10 (Figure 10) returned 37.59 g/t Au over 2.35 m (uncut) including a single sample of 0.5 m which assayed 80.75 g/t Au.

Note: Assay results for Colomac are cut at 50 g/t Au as per parameters identified within the 2021 Mineral Resource Estimate. No cutting is applied to Treasure Island holes. Lengths are reported as core lengths. True widths vary depending on drill hole dip. (see Table 1 and 2)

Table 1 – Colomac Drill Results – Summary Table

ZoneHole IDInterval (m)Core LengthGold Grade(cut @ 50)Gold Grade (uncut)
FromTo(m)(g/t)(g/t)
3.5C20-07B49.7050.400.701.38
C20-07C168.00169.001.001.04
C20-07C174.00175.001.001.42
C20-07C188.00189.001.001.14
C20-07C210.00210.500.501.92
C20-07C212.90213.901.003.33
C20-07C259.20259.900.701.18
C20-07C265.50269.303.803.21
C20-07C560.50561.000.5017.60
C20-07C563.60564.300.701.10
C20-07C569.10601.8032.703.00
C20-07C602.50603.000.501.40
C20-07C610.80614.904.101.45
C20-07C617.00617.700.701.04
C20-07C633.20633.900.701.11
C20-07C642.10646.704.605.26
C20-07C665.20687.0021.803.01
C20-07C696.30697.000.702.09
C20-07C715.90716.600.708.28
C20-07C726.40727.100.704.77
C20-07C733.05742.709.651.93
2.5C20-14339.75340.500.752.50
C20-14411.75419.257.501.18
2.5C20-14430.50431.250.751.30
C20-14438.75439.500.752.59
C20-14476.25477.000.751.37
C20-14488.25502.0013.751.61
C20-14516.00517.001.001.83
1.5C20-15B512.50513.250.751.05
C20-15B514.75515.350.609.04
C20-15B525.40535.5010.101.63
C20-15B544.30544.800.501.04
C20-15B559.25559.950.701.90
C20-15B561.85562.350.501.39
C20-15B566.15567.451.303.45
C20-15B576.25576.750.505.04
C20-15B583.05592.209.151.64
C20-16651.60658.607.001.72
C20-16680.80681.500.702.90
C20-16688.90689.600.701.56
2.5C20-17254.85259.154.3012.3626.08
including255.35255.850.50218.00
C20-17280.20280.900.702.71
C20-17297.35305.908.551.07
C20-17330.90331.600.701.62
C20-17B362.90363.400.501.63
C20-17B387.40388.100.701.42
C20-17B439.90440.600.705.28
1.5C20-18B399.95400.700.751.79
C20-18B470.00470.500.5075.60
C20-18B477.10477.600.504.59
C20-18B489.70490.200.5027.80
C20-18B518.00518.700.701.16
C20-18B531.55532.050.501.01
C20-18B533.25533.750.501.32
C20-18B534.45535.000.551.31
C20-18B555.50566.6011.101.65
C20-18B585.30585.800.502.67
C20-18B597.30598.000.701.10
C20-18B600.80609.208.402.65
C20-18B618.30619.301.002.13
C20-18B620.30620.800.501.27
C20-18B628.70639.8011.102.05
C20-18B643.80644.300.503.65
1.5C20-18B649.30649.800.501.43
C20-18B650.30651.000.702.06
C20-18B653.60654.601.001.43
C20-18B655.10655.800.701.90
C20-18B659.10720.3061.201.671.72
C20-18B728.10728.600.501.51
C20-18B729.80731.201.401.87
C20-18B732.60733.300.701.21
C20-18B745.20745.900.702.39
C20-19414.00478.1064.101.03
including446.20453.707.52.88
C20-19490.60491.100.503.51
C20-19495.50496.200.704.23
C20-19498.80499.300.501.42
C20-19500.30501.000.701.27
C20-20448.85479.1030.252.44
C20-20483.80484.500.701.60
C20-20492.60517.5024.901.49
C20-20524.50525.200.702.50
C20-20531.50532.200.701.31
C20-20540.30621.5081.201.481.54
C20-20639.70678.1038.401.46
C20-20689.10689.600.501.95
C20-20690.30691.000.702.18
C20-20693.60694.100.505.47
C20-20696.30696.800.501.57
C20-20698.70700.802.101.33
C20-20711.10711.600.501.89
C20-20712.10712.600.501.00
C20-20713.10713.600.502.69
C20-20715.30716.000.701.93
C20-20720.90722.101.201.07
C20-20723.50724.901.402.75
C20-20726.70727.400.702.74
C20-20742.00742.700.702.37

Note: Assay results for Colomac are cut at 50 g/t Au as per parameters identified within the 2021 Mineral Resource Estimate. Lengths are reported as core lengths. True widths vary depending on drill hole dip.

Table 2 – Treasure Island (Main Zone) Drill Results – Summary Table

Hole IDInterval (m)Core LengthGold Grade
FromTo(m)(g/t)
T20-07194.40195.100.701.85
T20-07212.00225.3513.351.31
T20-07235.65239.403.751.46
T20-07274.20277.503.305.62
T20-07329.00343.7014.701.98
T20-07352.10362.6010.501.47
T20-07365.35365.850.501.65
T20-07383.90384.450.557.73
T20-0993.6094.200.602.88
T20-09109.90110.400.501.87
T20-09124.20124.900.701.56
T20-09129.80131.852.054.65
T20-09171.00175.204.202.48
T20-09185.10185.800.705.24
T20-09264.60270.105.50207.18
including269.10269.600.502,260.00
T20-1040.0041.001.001.22
T20-1056.0056.5.000.5080.60
T20-10187.30188.000.701.53
T20-10196.40197.100.701.20
T20-10202.00202.700.701.05
T20-10225.80226.500.702.21
T20-10230.00230.700.701.50
T20-10249.20251.552.3537.59
including250.55251.050.50161.50
T20-10267.20278.9011.703.01
T20-10283.30283.800.504.24
T20-10284.30284.800.501.33
T20-10287.20287.900.701.51
T20-10296.45299.953.503.26
T20-10308.95309.450.501.40
T20-10314.60319.504.901.11
T20-10323.30323.900.601.60
T20-10384.90385.600.701.14

Note: All lengths are reported as core lengths. True widths vary depending on drill hole dip.

BHIDEastingNorthingElevationDirectionDIPEOH (m)Target Area
C20-07B5915797140966378108-7578Colomac
C20-07C5915797140966378108-77873Colomac
C20-145918477142134369107-70567Colomac
C20-15B591947714358433690-64651Colomac
C20-16591874714350933090-64814.55Colomac
C20-175921147142196365305-60375Colomac
C20-17B5921147142196365305-75504Colomac
C20-18592043714337434990-76480Colomac
C20-18B592043714337434990-73797.75Colomac
C20-195923747142725349270-69501Colomac
C20-20592063714324637090-72792Colomac
T20-075897357153429369165-80420Treasure Island
T20-095899407153450374165-68298Treasure Island
T20-105896027153449365165-70468Treasure Island

Figure 1 – Planview of Colomac Drilling

Figure 2 – Colomac – Zone 3.5 Cross Section – Drill Hole C20-07C

Figure 3 – Colomac – Zone 2.5 Cross Section – Drill Hole C20-17

Figure 4 – Colomac – Zone 1.5 Cross Section – Drill Holes C20-18, and C20-18B

Figure 5 – Colomac – Zone 1.5 Cross Section – Drill Hole C20-20

Figure 6 – Colomac – Zone 2.0 Cross Section – Drill Hole C20-19

Figure 6 – Planview of Treasure Island – Main Zone Drilling

Figure 7 – Treasure Island – Main Zone Cross Section – Drill Hole T20-07

Figure 8 – Treasure Island – Main Zone Cross Section – Drill Hole T20-09

Figure 9 – Treasure Island – Main Zone Cross Section – Drill Hole T20-10

Qualified Person

Richard Roy P.Geo., a member of OGQ and NAPEG, V.P. Exploration of Nighthawk, who is the Qualified Person as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.

Technical Information

Nighthawk has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. Drill core samples were transported in security-sealed bags for analyses at ALS Chemex Assay Laboratory in Vancouver, BC (“ALS Chemex“). ALS Chemex is an ISO 9001:2000 certified laboratory. Pulp and metallics assaying for gold was conducted on the entire pulverized sample.

As part of its QA/QC program, Nighthawk inserts external gold standards (low to high grade) and blanks every 20 samples in addition to the standards, blanks, and pulp duplicates inserted by ALS Chemex.

About Nighthawk

Nighthawk is a Canadian-based gold exploration company with 100% ownership of a district-scale land position within the Indin Lake Greenstone Belt, located approximately 200km north of Yellowknife, Northwest Territories, Canada. Within this largely underexplored Archean gold camp, the Company has identified a number of high-priority targets all centered around a growing multi-million-ounce deposit. These targets lie within large regional deformation zones that are pregnant with gold mineralization and are known to host significant deposits which warrant additional exploration and follow-up. The main goals and objectives over the next 12-24 months will be to carry out aggressive exploration to support resource expansion opportunities as well as to foster new, near-surface discoveries that support the global resource base.

The Company has an experienced and dedicated team with a track record of successfully advancing projects and is well funded and supported to complete its goals and objectives.

FOR FURTHER INFORMATION PLEASE CONTACT:

NIGHTHAWK GOLD CORP.
Tel: 1-647-794-4313; Email: info@nighthawkgold.com
Website: www.nighthawkgold.com

Keyvan SalehiPresident & CEOMichael LeskovecCFOSuzette N RamcharanVP, Corporate Development

The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to, the Company’s continued exploration programs and the ability to advance targets and the timing and results thereof; the ability to increase the global mineral resource base with additional drilling; the mineral resource estimate; and access to available capital to complete all work necessary to achieve the Company’s stated goals and objectives. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”.

Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nighthawk to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Nighthawk’s annual information form for the year ended December 31, 2019, available on http://www.sedar.com. Although Nighthawk has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Nighthawk does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE: Nighthawk Gold Corp

GoviEX files updated Madaouela PFS

A technical report titled “An Updated Pre-Feasibility Study for the Madaouela Project, Niger,” dated effective April 5, 2021, which supports the disclosure in GoviEX Uranium Inc.’s news release dated Feb. 18, 2021, has been filed today under the company’s profile on SEDAR.

Key highlights of the report, as previously described in the Feb. 18, 2021, news release:

  • Open-pit mining in the early years with capex reduced by 15 per cent and opex down by 20 per cent;
  • Captive water source, consumption reduced by 66 per cent;
  • Grid-level electrical power existing within Madaouela project boundary;
  • Prioritize local skilled labour and local venders;
  • Straightforward industry-standard process design — reducing construction and operational risks;
  • Mining permit and environmental certificate already secured;
  • Potential to service debt of $150-million (U.S.) to $180-million (U.S.);
  • Ability to fast-track feasibility study in 2021 to target rapid development;
  • Next steps to accelerate project financing and offtake options.

The report was prepared by SRK Consulting (U.K.) Ltd. in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects, and is available on the company’s website and under the company’s profile on SEDAR.

Qualified persons

The qualified persons from SRK for the report are:

  • EurGeol Robert John Bowell, PhD, CChem, CGeol — corporate consultant (geochemistry and processing);
  • Daniel Rene Guibal, Min Eng, FAusIMM (CP), MMICA, MGAA — corporate consultant (geostatistics and resources);
  • Timothy John McGurk, BEng (honours), CEng, MIMMM — corporate consultant (mining engineering);
  • Filip Orzechowski (MSc FIMMM CEng) — principal consultant (mining);
  • Jurgen Fuykschot (MSc MBA, MAusIMM) — principal consultant (mining engineering).

The scientific and technical information in this release has been reviewed and approved by Dr. Rob Bowell, a chartered chemist of the Royal Society of Chemistry, a chartered geologist of the Geological Society of London, and a fellow of the Institute of Mining, Metallurgy and Materials, who is an independent qualified person under the terms of National Instrument 43-101 for uranium deposits. Mr. Bowell has verified the data disclosed in this news release.

Arizona Metals arranges $15.01M placement

Arizona Metals Corp. has entered into an agreement with a syndicate of underwriters led by Stifel GMP and Clarus Securities Inc., pursuant to which the underwriters have agreed to purchase, on a bought-deal private placement basis, 7.15 million special warrants of the company at a price of $2.10 per special warrant for aggregate gross proceeds to the company of $15,015,000. The company has agreed to grant the underwriters an overallotment option to purchase up to an additional 1,072,500 special warrants at the issue price exercisable in whole or in part, at any time and from time to time on or prior to the date that is 48 hours prior to the closing date (as defined below).

This financing will allow the company to increase the fully financed Kay mine phase 2 expansion drill program, currently under way, from 25,000 to 75,000 metres.

Marc Pais, chief executive officer, commented: “We appreciate the continued support and confidence of current and new shareholders. This financing will allow us to triple the planned drilling at the Kay mine phase 2 Expansion program from 25,000 m to 75,000 m. We can now accelerate the testing of numerous satellite targets on strike and to the west of the Kay mine, previously identified using a combination of structural mapping, helicopter electromagnetic (VTEM) surveys, borehole electromagnetic surveys (BHEM), and soil and rock geochemical sampling. A recently completed property-wide gravity survey has helped to refine the current drill targets, while also identifying new historically untested targets. We are currently scheduling a third and fourth drill rig to the Kay mine and will provide further details of the expanded program in a future release.”

Each special warrant shall be issued under a special warrant indenture and shall entitle the holder thereof to receive, without payment of additional consideration, one unit of the company. Each unit shall consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company at a price of $3 for a period of 12 months following the closing date of the offering.

The special warrants shall be deemed exercised on behalf of, and without any required action on the part of, the holders (and for no additional consideration) on the earlier of: (i) the second business day following the date on which a final receipt is obtained from the Ontario Securities Commission, as principal regulator on behalf of the securities regulatory authorities in each of the qualifying jurisdictions (as defined herein), for a (final) short-form prospectus qualifying for distribution the units underlying the special warrants; and (ii) 5 p.m. Toronto time on the date that is four months and a day following the closing date.

In the event the qualification date has not occurred on or before the date that is 10 weeks following the closing date, each special warrant shall thereafter entitle the holder to receive, upon the exercise or deemed exercise of each special warrant, for no additional consideration, 1.1 units.

The company plans to use the net proceeds from the offering to finance exploration and development work at the Kay mine copper-gold VMS (volcanogenic massive sulphide) project in Arizona, and for working capital and general corporate purposes.

The special warrants will be offered on a private placement basis in all provinces of Canada, except Quebec. The special warrants will also be offered in the United States on a private placement basis pursuant to available exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and in such other jurisdictions outside of Canada and the United States, as mutually agreed by the company and the underwriters, in each case in accordance with all applicable laws.

The offering is scheduled to close on or about April 22, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

Copper Fox plans IP survey for Mineral Mountain

Copper Fox Metals Inc. and its wholly owned subsidiary, Desert Fox Copper Inc., plan to complete a deep penetrating induced polarization (chargeability/resistivity) survey on its 100-per-cent-owned Mineral Mountain copper project located approximately 15 miles east of Florence, Ariz.

Highlights:12.5 kilometers of geophysical survey to test the continuity at depth of the copper mineralization in Target #1 and Target #2. The survey will map the chargeability and resistivity signatures to an average depth of 600 meters (“m”) below surface. Target #1 is hosted in Laramide age mineralized multi-phase intrusive stock and measures 4,500m long by up to 2,000m wide.Target #2 is hosted in Precambrian granite and diabase, measuring 2,800m long by 400m wide located approximately 800m southeast of Target #1.

Elmer B. Stewart, President and CEO of Copper Fox, stated, “The objective of the geophysical survey is to advance the project to the drill ready stage by mapping the chargeability/resistivity signatures below the copper mineralization exposed in outcrop on both Targets. Assuming positive results, the data will be combined with previous work to select drill hole locations.”

Geological Model:

The geological model centers on a multi-phase Laramide age intrusive with mineralized and non-mineralized granodiorite phases and a mineralized quartz monzonite phase intruding the Precambrian Pinal Schist. The intrusive has been age dated at 69.7 +/- 0.4 Ma utilizing U/Pb zircon age dating and is cut by a series of syn-mineralization and late-stage dikes of varying composition. Porphyry copper style of mineralization and alteration occurs in a large portion of the stock.

Petrographic Studies:

Petrographic studies indicate an early potassic phase, overprinted by pervasive sericite and late stage propylitic alteration and transformation of primary chalcopyrite to secondary malachite, covellite and chalcocite due to weathering/oxidization/enrichment processes that were active after the Laramide hydrothermal event.

Mineralization:

Target #1 consists of three overlapping styles of copper mineralization occurring as disseminations, and in northeast and northwest striking quartz vein/veinlet stockwork and fractures.

In Target #2, copper mineralization occurs in quartz vein/vein stockworks and fractures hosted in Precambrian Pinal Schist, Diabase and the Ruin Granite with similar strike and dip directions to that observed in Target #1.

Analytical Results:

The copper mineralization exposed in outcrop is interpreted to represent the lower portion of the supergene zone that resulted from cycles of weathering/oxidization/metal enrichment that occurred after the Laramide hydrothermal event. The supergene process increases certain metal concentrations at the bottom of the weathered zone which suggests that the samples used to determine Average Concentrations, Median Values and Range of Metal Concentrations shown below, are not necessarily representative of the mineralization on the property.

Average Concentrations:

Style of      Number of  Cu   Cu   Mo   Au   Ag  
Mineralization Samples (ppm)  (%) (ppm)(ppb)(ppm)
Disseminated     47    5,752 0.57571.8 57.9  6.6 
Quartz Vein      141   12,0201.20265.3 127.516.3 
Fracture         135   4,223 0.42213.6 43.1  7.3 

Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion

Median Values:

Style of      Number of Cu   Cu   Mo   Au   Ag  
Mineralization Samples (ppm) (%) (ppm)(ppb)(ppm)
Disseminated     47    2,5950.259 4.0 11.0  2.3 
Quartz Vein      141   5,7700.57710.7 28.0  2.6 
Fracture         135   1,5230.152 3.0 10.0  1.5 

Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion

Range of the Metal Concentrations: 

Style of      Number of     Cu            Cu           Mo        Au       Ag     
Mineralization Samples     (ppm)         (%)         (ppm)     (ppb)     (ppm)   
Disseminated     47    73 to 20,200 0.007 to 2.20 0.5 to 1,0605 to 6960.4 to 65.4
Quartz Vein      141   80 to 103,8000.008 to 10.380.2 to 2,0805 to 8720.2 to 483 
Fracture         135   13 to 30,000 0.001 to 3.00  0.5 to 282 5 to 4650.2 to 65.4

Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion

Analytical and Sampling Procedures:

Analytical results used in this news release represent selected rock chip samples of the three styles of mineralization from the Mineral Mountain project. The samples were collected to characterize the base metals and trace element geochemistry present in veins, other mineralized structures, and outcrops. The samples were picked up from site by Skyline Laboratories of Tucson, Arizona.

The samples were crushed to plus 75% -10 mesh, split and pulverized to plus 95% -150 mesh. Pulps were subjected to a multi-acid digest (HNO3, HF, and HClO4). Gold was analyzed on a 30-gram charge by fire assay (FA-01) with an atomic absorption finish. Skyline’s package code TE-5 was used to analyze the samples for the base and other trace elements. Metal concentration in samples exceeding the upper limit of detection were assayed for copper using (MEA) and silver (FA-04). Skyline has an ISO/IEC 17025/2005 accreditation.

Elmer B. Stewart, MSc. P. Geol., President and CEO 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.

Euro Sun files request to start SEA at Rovina

Euro Sun Mining Inc. has filed a request to initiate the strategic environmental assessment (SEA) for the Rovina Valley project with the Environmental Protection Agency in Hunedoara county, Romania. The notice of filing was published in the Mesagerul Hunedorean as required under the legislation and will also be published again on April 8, 2021.

The contents of the public announcement made by Euro Sun’s 100-per-cent-owned subsidiary in Romania are translated below:

S.C. Samax Romania SRL with headquarters in Criscior, 146 Calea Zarandului, postal code 337200, Hunedoara county, announces the completion of the first version of PUZ — industrial zone for the investments, development of the Rovina mining project within the exploitation licence area and triggering of the screening phase for obtaining the environmental licence.

The first version of the plan can be consulted at the Hunedoara EPA headquarters, in Deva City, 25 Aurel Vlaicu St., postal code 330007, Hunedoara county, every day from Monday to Thursday from 8 a.m. to 4:30 p.m. and on Friday from 8 a.m. to 2:30 p.m., as well as on Hunedoara EPA’s website. The comments and suggestions shall be sent in writing to Hunedoara EPA’s headquarters, within 18 calendar days since this announcement appeared.

Scott Moore, Euro Sun’s chief executive officer, stated: “We are pleased to initiate the SEA process with the Hunedoara County Environmental Protection Agency. Our definitive feasibility study has outlined a generational asset that brings both the highest environmental stewardship with significant economic benefits directly to our local communities and to the county of Hunedoara as a whole. We look forward to building a stronger relationship with all of the authorities through this phase of the permit process.”

The SEA process builds on the environmental impact assessment (EIA) approved under the exploitation licence issued by the Romanian government on Nov. 9, 2018, augmented by 17 new or updated environmental studies on the project as required by Romanian or European regulations. These studies include such items as air quality, noise, traffic, and various flora and fauna baseline studies.

The SEA process will also involve obtaining the opinions or approvals of 14 administrative bodies. Representative agencies include the Army General Headquarters, Hunedoara County Police Inspectorate, Banat Electrical Supply Company, and local and county roads administrators among others.

Public consultations are required under the SEA process and the company intends to hold such as directed by the EPA of Hunedoara county in a timely manner but are expected to occur in the third quarter.

Nighthawk drills 32.7 m of three g/t Au at Indin

Nighthawk Gold Corp. has released the remaining results from its 2020 exploration program on the Colomac deposit and the Treasure Island zone within its 100-per-cent-owned Indin Lake gold property (930-square-kilometre land package), located in the Northwest Territories of Canada.

Assay results from the remaining drill holes completed at Colomac (10 holes for 6,433 metres) and Treasure Island (three holes for 1,186 metres) have been received and returned significant results at both locations.

Richard Roy, vice-president, exploration, commented: “We are pleased to report on the remaining 2020 drill results at Colomac and Treasure Island. Treasure Island encountered high-grade results, where hole T20-09 returned 207.18 grams per tonne gold over 5.5 metres, including a single assay of 2,260 g/t Au over 0.5 metre. Consistent higher grade at Treasure Island remains to be demonstrated by drilling. With these recent Treasure Island results now in hand, all results to date will be compiled, analyzed and modelled in order to establish its potential to add higher-grade mineralization to the global resource base.

“The Colomac results illustrate the potential for resource growth at depth; however, drilling in 2021 will focus on further delineation of near-surface mineralization in an effort to increase the in-pit resources. The potential at depth on Colomac remains very significant, but quality near-surface targets remain untested at Colomac and will be prioritized in 2021.”

Colomac:

  • Hole C20-07C was completed at zone 3.5 and returned 3.00 grams per tonne gold over 32.7 metres, supporting the continuity of the higher-grade mineralization previously obtained at depth.
  • Holes C20-14 and C20-17(17B) tested zone 2.5 at depth. Although no extensively wide intervals were obtained, hole C20-17, did return a high-grade interval of 12.36 g/t Au over 4.3 m (26.08 g/t Au uncut) including a 0.5 m sample assaying 218.00 g/t Au.
  • Holes C20-15(15B), C20-16, C20-18(18B) and C20-20 were drilled on zone 1.5 testing the depth extension of the mineralization. Significant intervals were obtained, particularly in holes C20-18B, which returned 1.67 g/t Au over 61 m (1.72 g/t Au uncut), and C20-20 returned 2.44 g/t Au over 30.25 m. These results demonstrate that zone 1.5 remains wide and well mineralized at depth, adding to the resource potential within this zone.
  • Hole C20-19 tested zone 2.0 and returned a wide intersection of 1.03 g/t Au over 64.1 m, including 2.88 g/t Au over 7.5 m. Drilling at zone 2.0 continues to encounter both extensive widths and higher-grade intervals within the mineralization.

Treasure Island:

  • The remaining three holes completed at Treasure Island (Main zone), returned significant higher-grade gold mineralization at depth, including:
    • Hole T20-07 returned 5.62 g/t Au over 3.3 m.
    • Hole T20-09 returned 4.65 g/t Au over 2.05 m and 207.18 g/t Au over 5.5 m (uncut), including a single assay result of 2,260 g/t Au over 0.5 m.
    • Hole T20-10 returned 37.59 g/t Au over 2.35 m (uncut) including a single sample of 0.5 m which assayed 80.75 g/t Au.

Note

Assay results for Colomac are cut at 50 g/t Au as per parameters identified within the 2021 mineral resource estimate. No cutting is applied to Treasure Island holes. Lengths are reported as core lengths. True widths vary depending on drill hole dip.

                           COLOMAC DRILL RESULTS -- SUMMARY TABLE  

Hole ID         From        To     Core length     Gold grade (cut at 50)     Gold grade (uncut)
                 (m)       (m)             (m)                      (g/t)                  (g/t)

C20-07B        49.70     50.40            0.70                       1.38                      -
C20-07C       168.00    169.00            1.00                       1.04                      -
C20-07C       174.00    175.00            1.00                       1.42                      -
C20-07C       188.00    189.00            1.00                       1.14                      -
C20-07C       210.00    210.50            0.50                       1.92                      -
C20-07C       212.90    213.90            1.00                       3.33                      -
C20-07C       259.20    259.90            0.70                       1.18                      -
C20-07C       265.50    269.30            3.80                       3.21                      -
C20-07C       560.50    561.00            0.50                      17.60                      -
C20-07C       563.60    564.30            0.70                       1.10                      -
C20-07C       569.10    601.80           32.70                       3.00                      -
C20-07C       602.50    603.00            0.50                       1.40                      -
C20-07C       610.80    614.90            4.10                       1.45                      -
C20-07C       617.00    617.70            0.70                       1.04                      -
C20-07C       633.20    633.90            0.70                       1.11                      -
C20-07C       642.10    646.70            4.60                       5.26                      -
C20-07C       665.20    687.00           21.80                       3.01                      -
C20-07C       696.30    697.00            0.70                       2.09                      -
C20-07C       715.90    716.60            0.70                       8.28                      -
C20-07C       726.40    727.10            0.70                       4.77                      -
C20-07C       733.05    742.70            9.65                       1.93                      -
C20-14        339.75    340.50            0.75                       2.50                      -
C20-14        411.75    419.25            7.50                       1.18                      -
C20-14        430.50    431.25            0.75                       1.30                      -
C20-14        438.75    439.50            0.75                       2.59                      -
C20-14        476.25    477.00            0.75                       1.37                      -
C20-14        488.25    502.00           13.75                       1.61                      -
C20-14        516.00    517.00            1.00                       1.83                      -
C20-15B       512.50    513.25            0.75                       1.05                      -
C20-15B       514.75    515.35            0.60                       9.04                      -
C20-15B       525.40    535.50           10.10                       1.63                      -
C20-15B       544.30    544.80            0.50                       1.04                      -
C20-15B       559.25    559.95            0.70                       1.90                      -
C20-15B       561.85    562.35            0.50                       1.39                      -
C20-15B       566.15    567.45            1.30                       3.45                      -
C20-15B       576.25    576.75            0.50                       5.04                      -
C20-15B       583.05    592.20            9.15                       1.64                      -
C20-16        651.60    658.60            7.00                       1.72                      -
C20-16        680.80    681.50            0.70                       2.90                      -
C20-16        688.90    689.60            0.70                       1.56                      -
C20-17        254.85    259.15            4.30                      12.36                  26.08
including     255.35    255.85            0.50                          -                 218.00
C20-17        280.20    280.90            0.70                       2.71                      -
C20-17        297.35    305.90            8.55                       1.07                      -
C20-17        330.90    331.60            0.70                       1.62                      -
C20-17B       362.90    363.40            0.50                       1.63                      -
C20-17B       387.40    388.10            0.70                       1.42                      -
C20-17B       439.90    440.60            0.70                       5.28                      -
C20-18B       399.95    400.70            0.75                       1.79                      -
C20-18B       470.00    470.50            0.50                          -                  75.60
C20-18B       477.10    477.60            0.50                       4.59                      -
C20-18B       489.70    490.20            0.50                      27.80                      -
C20-18B       518.00    518.70            0.70                       1.16                      -
C20-18B       531.55    532.05            0.50                       1.01                      -
C20-18B       533.25    533.75            0.50                       1.32                      -
C20-18B       534.45    535.00            0.55                       1.31                      -
C20-18B       555.50    566.60           11.10                       1.65                      -
C20-18B       585.30    585.80            0.50                       2.67                      -
C20-18B       597.30    598.00            0.70                       1.10                      -
C20-18B       600.80    609.20            8.40                       2.65                      -
C20-18B       618.30    619.30            1.00                       2.13                      -
C20-18B       620.30    620.80            0.50                       1.27                      -
C20-18B       628.70    639.80           11.10                       2.05                      -
C20-18B       643.80    644.30            0.50                       3.65                      -
C20-18B       649.30    649.80            0.50                       1.43                      -
C20-18B       650.30    651.00            0.70                       2.06                      -
C20-18B       653.60    654.60            1.00                       1.43                      -
C20-18B       655.10    655.80            0.70                       1.90                      -
C20-18B       659.10    720.30           61.20                       1.67                   1.72
C20-18B       728.10    728.60            0.50                       1.51                      -
C20-18B       729.80    731.20            1.40                       1.87                      -
C20-18B       732.60    733.30            0.70                       1.21                      -
C20-18B       745.20    745.90            0.70                       2.39                      -
C20-19        414.00    478.10           64.10                       1.03                      -
including     446.20    453.70             7.5                       2.88                      -
C20-19        490.60    491.10            0.50                       3.51                      -
C20-19        495.50    496.20            0.70                       4.23                      -
C20-19        498.80    499.30            0.50                       1.42                      -
C20-19        500.30    501.00            0.70                       1.27                      -
C20-20        448.85    479.10           30.25                       2.44                      -
C20-20        483.80    484.50            0.70                       1.60                      -
C20-20        492.60    517.50           24.90                       1.49                      -
C20-20        524.50    525.20            0.70                       2.50                      -
C20-20        531.50    532.20            0.70                       1.31                      -
C20-20        540.30    621.50           81.20                       1.48                   1.54
C20-20        639.70    678.10           38.40                       1.46                      -
C20-20        689.10    689.60            0.50                       1.95                      -
C20-20        690.30    691.00            0.70                       2.18                      -
C20-20        693.60    694.10            0.50                       5.47                      -
C20-20        696.30    696.80            0.50                       1.57                      -
C20-20        698.70    700.80            2.10                       1.33                      -
C20-20        711.10    711.60            0.50                       1.89                      -
C20-20        712.10    712.60            0.50                       1.00                      -
C20-20        713.10    713.60            0.50                       2.69                      -
C20-20        715.30    716.00            0.70                       1.93                      -
C20-20        720.90    722.10            1.20                       1.07                      -
C20-20        723.50    724.90            1.40                       2.75                      -
C20-20        726.70    727.40            0.70                       2.74                      -
C20-20        742.00    742.70            0.70                       2.37                      -
     
Note: Assay results for Colomac are cut at 50 g/t Au as per 
parameters identified within the 2021 mineral resource estimate. 
Lengths are reported as core lengths. True widths vary depending 
on drill hole dip.

    TREASURE ISLAND (MAIN ZONE) DRILL RESULTS -- SUMMARY TABLE
 
Hole ID           From            To      Core length       Gold grade
                   (m)           (m)              (m)            (g/t)

T20-07          194.40        195.10             0.70             1.85
T20-07          212.00        225.35            13.35             1.31
T20-07          235.65        239.40             3.75             1.46
T20-07          274.20        277.50             3.30             5.62
T20-07          329.00        343.70            14.70             1.98
T20-07          352.10        362.60            10.50             1.47
T20-07          365.35        365.85             0.50             1.65
T20-07          383.90        384.45             0.55             7.73
T20-09           93.60         94.20             0.60             2.88
T20-09          109.90        110.40             0.50             1.87
T20-09          124.20        124.90             0.70             1.56
T20-09          129.80        131.85             2.05             4.65
T20-09          171.00        175.20             4.20             2.48
T20-09          185.10        185.80             0.70             5.24
T20-09          264.60        270.10             5.50           207.18
including       269.10        269.60             0.50         2,260.00
T20-10           40.00         41.00             1.00             1.22
T20-10           56.00         56.50             0.50            80.60
T20-10          187.30        188.00             0.70             1.53
T20-10          196.40        197.10             0.70             1.20
T20-10          202.00        202.70             0.70             1.05
T20-10          225.80        226.50             0.70             2.21
T20-10          230.00        230.70             0.70             1.50
T20-10          249.20        251.55             2.35            37.59
including       250.55        251.05             0.50           161.50
T20-10          267.20        278.90            11.70             3.01
T20-10          283.30        283.80             0.50             4.24
T20-10          284.30        284.80             0.50             1.33
T20-10          287.20        287.90             0.70             1.51
T20-10          296.45        299.95             3.50             3.26
T20-10          308.95        309.45             0.50             1.40
T20-10          314.60        319.50             4.90             1.11
T20-10          323.30        323.90             0.60             1.60
T20-10          384.90        385.60             0.70             1.14
  
Note: All lengths are reported as core lengths. 
True widths vary depending on drill hole dip.

Qualified person

Richard Roy, PGeo, vice-president, exploration, of Nighthawk, who is the qualified person as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.

Technical information

Nighthawk has implemented a quality control program to comply with best practices in the sampling and analysis of drill core. Drill core samples were transported in security-sealed bags for analyses at the ALS laboratory in Vancouver, B.C. ALS Global is an ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 17025-accredited laboratory. Pulp and metallics assaying for gold was conducted on the entire pulverized sample.

As part of its QA/QC program, Nighthawk inserts external gold standards (low to high grade) and blanks every 20 samples in addition to the standards, blanks and pulp duplicates inserted by ALS Global.

Metals Update 31/03/2021

Almaden appoints O’Kane, Phillips to board

Almaden Minerals Ltd. has appointed Kevin O’Kane and Alfredo Phillips as independent non-executive members of the board of directors, effective immediately.

Kevin O’Kane is based in Vancouver and is a registered professional engineer with nearly 40 years of experience in the global mining industry. He has held executive positions with BHP in South America, including Project Director, Vice President of Health, Safety and Environment, and Asset President. Most recently, Mr. O’Kane held the position of Executive Vice-President and Chief Operating Officer for SSR Mining Inc. He holds the ESG Competent Boards Certificate and Global Competent Boards Designation (GCB.D), achieved in 2021. He is fluent in Spanish and brings a wealth of technical, operational and HSCE leadership combined with Latin American knowledge to Almaden’s Board. Kevin also serves on the Boards of SolGold Plc and NorthIsle Copper and Gold Inc.

Alfredo Phillips is a seasoned business executive in Mexican primary industries. He is currently Head of Government Affairs in Mexico for Arcelor Mittal, the world’s largest steel producer. Prior to taking this position in 2020, he had served in a similar capacity for Torex Gold for over six years. Mr. Phillips is past President of the Mining Task Force of the Canadian Chamber of Commerce in Mexico, continues to serve on the Board of the Chamber, and is founding Chairman of the Guerrero Mining Cluster since 2016. He also serves on the Board of Directors of the Latin American and Caribbean Council on Renewable Energy (LAC-CORE).

Mr. Phillips has had an extensive career in the public, private, diplomatic, and academic fields. He has held numerous positions in the Mexican Government ranging from Deputy General Director for Technology at the National Council for Science and Technology, to Director General for Planning, Programming, and the Budget at the Ministry of Education, to Head of the Investment Promotion Office at the Ministry of Energy. His last position in the Mexican Government was as Minister for Economic Affairs at the Mexican Embassy in Washington DC. He has also worked for Siemens Mesoamerica as head of government affairs. Mr. Phillips also participates in academic undertakings and is currently founding Board Member of the Global Sustainability Institute at the Monterrey Technology Institute jointly with Arizona State University, in addition to being a professor of Negotiation Theory at the Executive Education School at the IberoAmerican University in Mexico City.

Alfredo received a B.Sc. in Actuarial Mathematics from Anahuac University in Mexico City and a Master’s in Public Administration from the Kennedy School of Government at Harvard University. He is fluent in English, Spanish, and French.

J. Duane Poliquin, Chairman of Almaden, stated “On behalf of the Board, we are very pleased to welcome these two distinguished people to Almaden. Alfredo has had a lot of success in developing and promoting successful, sustainable businesses in Mexico and we look forward to his contributions to our business strategy moving forward. Kevin adds strong technical, operational, social, and environmental expertise gained through many years of experience at Tier 1 mining operations. The appointment of Alfredo and Kevin underscores the great potential of the Ixtaca Project.”

Alfredo Phillips stated, “It is a great pleasure and a wonderful opportunity to join this distinguished group of seasoned mining professionals. Almaden offers a wonderful opportunity to be a part of a forward-thinking company that is facing the future with out of the box ESG policies that will hopefully be groundbreaking in nature and trailblazing in Mexico and the Americas building the mine of the future hand in hand with the communities and authorities.

Coincident with these appointments, John (Jack) McCleary and Gerald Carlson have elected to retire from the Board but have agreed to remain active with Almaden in an advisory capacity. Duane Poliquin, Chairman of Almaden, stated, “Both Jack and Gerry have been valued contributors to Almaden for many years. While we are losing them as valued members of the Board, we are grateful that they have agreed to remain available to the Company.”

Orca Gold Announces Closing of Non-Brokered Private Placement

VANCOUVER, BC, March 31, 2021 /CNW/ – Orca Gold Inc. (TSXV: ORG) (“Orca” or the “Company”) announces that the previously announced non-brokered private placement (see the Company’s news releases dated March 17 and March 23, 2021) (the “Offering“) has been over-subscribed and has closed on a total of 19,649,998 common shares for gross proceeds of approximately $10,807,500.

All common shares issued under the Offering will be subject to a hold period expiring on July 31, 2021, in accordance with applicable Canadian securities laws. 

The proceeds of the Offering will primarily be used to fund ongoing operations at the Company’s 70%-owned Block 14 Gold Project in the Republic of the Sudan and for general working capital.

The common shares issued under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Corporation’s securities in the United States.

Commenting upon the successful financing, Richard Clark, CEO, said: “After nine years of working in the Republic of Sudan, delineating a resource with very strong economics and acquiring all the necessary permits for development, the Company is ready to proceed towards the construction of the Block 14 Gold Project. Today, the political environment in the Republic of Sudan is stabilizing at a rapid pace. With all sanctions removed, negative designations withdrawn, and sovereign immunity restored, the country is poised to be a go-to jurisdiction for many industries, not just mining. In particular, the Republic of Sudan’s recent clearing of financial arrears to the World Bank now opens the door to significant international financial assistance. For Orca, we are fortunate to have the support of the new Cabinet in advancing the Block 14 Gold Project and using it to set the stage for a commercial gold mining industry for the country. I would like to extend our sincere appreciation to Orca’s shareholders for their ongoing support and a warm welcome to new investors who see the great potential of Block 14 and the potential of the Republic of the Sudan. The Company will provide a more detailed corporate update regarding Orca’s plans and budget in the coming weeks. I very much look forward to providing more details of the Company’s financing and development opportunities and plans for the development of Block 14”.

On behalf of the Board of Directors,

“Richard P. Clark”

Richard P. Clark| CEO & Director | Orca Gold Inc. | 604.689.7842

Bonterra Expands Multiple Gold Mineralized Zones at Barry; Highlighted by 7.4 g/t over 14.7 metres, Including 20.6 g/t over 4.9 metres

Val-d’Or, Quebec–(Newsfile Corp. – March 31, 2021) – Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (“Bonterra” or the “Company“) is pleased to announce an update on results from the ongoing drilling campaign at the Barry project. Recent drilling was designed to expand the Barry “H-Series” gold mineralized zones at depth (See Figures 1 and 2). The latest drilling results encompass 11 expansion diamond drill holes (4,794 metres (“m“)), including six drill holes that were deepened to test for potential extensions of “H-Series” subparallel zones. Drilling was highlighted by a wide zone of mineralization in drill hole MB-21-340 that intercepted 7.4 grams-per-tonne gold (“g/t Au“) over 14.7 m. The Company is currently drilling at a rate of approximately 10,000 m per month and plans a mineral resource estimate update for Q2/21 (the “2021 Resource Update“), which is expected to incorporate approximately 130,000 m of new drilling information, including results presented today. In addition, work on the the Preliminary Economic Assessment (“PEA“) is ongoing and is expected to be completed in the fall of 2021 (See press release dated March 1, 2021).

Highlights:

  • 7.4 g/t Au over 14.7 m and 1.4 g/t Au over 6.8 m in hole MB-21-340
  • 3.8 g/t Au over 6.8 m and 2.1 g/t Au over 6.6 m in hole MB-21-339
  • 3.5 g/t Au over 6.3 m in hole MB-20-255
  • 3.9 g/t Au over 2.7 m in hole MB-20-278

Pascal Hamelin, CEO commented: “The ongoing drilling results at Barry are very encouraging and support our view that tremendous exploration potential remains within the camp near existing infrastructure. Several historical intercepts suggest the potential for higher-grade material to the west and drill hole MB-21-340 is no exception. There are currently two diamond drill rigs operating at Barry. Importantly, having several parallel gold-bearing structures allows for drilling to pierce several zones with each hole. The Company continues to test extensions of the deposits at all three of the Company’s flagship assets in preparation of the upcoming resource update expected in Q2/21.”



Figure 1 – Barry Project – Drill Hole Location Map

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1528/79046_da029f7c54c66bc1_001full.jpg



Figure 2 – Barry Deposit Longitudinal Section

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1528/79046_da029f7c54c66bc1_002full.jpg

The Company has drilled 70 holes and deepened six existing holes representing a total of 28,658 m at Barry since July 23, 2020. Results from eight drill holes have been received since the press release dated March 1, 2021. Results from the remaining three holes are still pending (See Table 1 and Figures 1 and 2).

The Barry gold deposit is characterized as multiple sub-parallel, sub-vertical, shear zones and a second set of subparallel “H-Series” veins dipping 50 to 60 degrees to the south hosted within intermediate to mafic volcanics and tuffs with local felsic intrusions. Gold mineralization consists of disseminated sulfides within the shear zones and the veins with local visible gold. The Barry deposit has been delineated over 1.4 kilometres along strike and 600 m vertical and remains open for expansion.

Due to an accumulated backlog at the Company’s laboratory, assaying priority has been assigned to drill hole samples directly affected within the 2021 Resource Update. Pending assays of samples awaiting analysis from drilling beyond the project models not included in the 2021 Resource Update are to be processed by Activation Laboratories Ltd. (“Actlabs“), based in northwestern Quebec.

Table 1: Significant mineralized intersections of recent drilling on the Barry deposit

Hole IDFrom (m)To (m)Length (m)Grade (g/t Au)Zone
MB-18-189Results pending
MB-18-191Results pending
MB-18-198523.3524.31.01.9H15
527.9530.12.20.9H15
MB-20-246Results pending
MB-20-255624.8631.16.33.5H15
including630.4631.10.715.2
MB-20-278543.7546.52.83.9H15
including545.2545.70.517.3
MB-21-336193.2194.71.50.7
215.2215.70.50.9
233.8234.30.51.3
461.2463.22.02.01000
493.3494.31.00.8
MB-21-337525.3527.32.00.5
568.0570.22.22.4
MB-21-338570.8578.47.60.8
653.2655.62.42.2H12
700.7706.65.92.1H13
including703.7704.71.07.4
MB-21-339580.9585.74.80.6H5
656.8663.66.83.8H12
including656.8658.51.714.6
849.5856.16.62.1H15
MB-21-340346.4350.64.20.6
431.3446.014.77.4H8
including434.1439.04.920.6
497.8502.54.70.6
509.7514.44.71.0H13
615.8622.76.91.4H15

Notes:
1) The meterage represents the length of the drilled lengths.
2) True widths are estimated to be greater than 85% of the drill intersection length.
3) The mineralized intervals shown above use a 0.5 g/t Au cut-off grade.

Six existing drill holes (MB-18-189, MB-18-191, MB-18-198, MB-20-246, MB-20-255 and MB-20-278) were deepened and five new holes (MB-21-336 to 340) targeted the expansion of key areas confirming mineral continuity within the inferred resource from the 2019 Barry mineral resource estimate. Drilling results confirm the expansion of multiple “H-Series” subparallel zones open at depth in the central and west areas of the Barry deposit.

The following holes have returned significant grades in this sector; MB-20-255: 3.5 g/t Au over 6.3 m in the H15 Zone; MB-20-278: 3.9 g/t Au over 2.7 m in the H15 Zone; MB-21-339: 3.8 g/t Au over 6.8 m in the H12 zone and 2.1 g/t Au over 6.6 m in the H15 zone; MB-21-340: 7.4 g/t Au over 14.7 m in the H8 Zone and 1.4 g/t Au over 6.8 m in the H15 Zone. Hole MB-21-336 intersected the 1000 zone returning 2.0 g/t Au over 2.0 m confirming that mineralization along this Barry zone remains open towards the east and at depth (See Table 1 and Figures 1 and 2).

American Manganese Produces Cathode Precursor Material Directly from Recycled Lithium-ion Battery NCA Cathode Waste

SURREY, BC / ACCESSWIRE / March 31, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) (“AMY” or the “Company“), with its advanced and patented lithium-ion battery cathode recycling process (RecycLiCo™) and Kemetco Research Inc. (“Kemetco”), a leading metallurgical laboratory and R&D contractor to American Manganese, are pleased to announce the production of cathode precursor material directly from recycled Lithium Nickel Cobalt Aluminum Oxide (NCA) cathode waste. The NCA cathode chemistry is produced by some of the largest battery manufacturers and commonly used in modern electric vehicle batteries.

The cathode precursor material, produced by the Company’s pilot plant project and specialized cathode reactor, was analyzed with scanning electron microscopy to verify the spherical morphology requested by a tier-one battery manufacturer. American Manganese will be producing a range of precursor samples to be evaluated in collaboration with the tier-one battery manufacturer.

Scanning Electron Microscopy Scan of Cathode Precursor from Recycled NCA Cathode Waste

“American Manganese is advancing its RecycLiCo™ process with the aim to produce the highest value final product, the cathode precursor, with the fewest number of steps,” commented Larry Reaugh, President and CEO of American Manganese. “We believe our business strategy and patented technology provide the highest economic benefit and the most sustainable manner for recycling critical battery minerals from cathode waste.”

The Government of Canada has recently developed a list of 31 critical minerals for the sustainable economic success of Canada, which include battery minerals like lithium, cobalt, manganese, nickel, and aluminum. Battery technology will be essential for the global economy and Canada is poised to become a global leader in mining, battery manufacturing, electric vehicle manufacturing, and battery recycling. American Manganese believes its recycling patents and cathode precursor production know-how will be a valuable contribution to Canada’s thriving battery supply chain. The National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) has provided support and funding to American Manganese for its technical feasibility project, formally known as Synthesis of Cathode Material Precursors from Recycled Battery Scrap.

Aquila Resources Announces Fourth Quarter and Year End 2020 Financial Results

Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) (“Aquila” or the “Company”) announces the filing of its financial results for the fourth quarter and year ended December 31, 2020. All amounts, unless indicated, are reported in US dollars.

“In 2020, Aquila significantly advanced our Back Forty Project in Michigan, highlighted by the Preliminary Economic Assessment the Company announced in August that showcased Back Forty’s potential as a near-term producer in the United States,” said Guy Le Bel, President & CEO of Aquila. “Despite the ongoing COVID-19 pandemic, Aquila was able to expand its team in Michigan and resolved all federal challenges to the Back Forty Project. Our current focus is securing additional capital and evaluating various strategic alternatives to maximize shareholder value, advancing the optimized Feasibility Study, and securing the remaining State permits required to build and operate Back Forty.”

ANNUAL HIGHLIGHTS

  • In August 2020, the Company announced the results of a positive Preliminary Economic Assessment (“PEA”) for the Company’s 100% owned Back Forty Project. Key highlights include:
    • After-tax NPV at a 6% discount rate of $176.3 million (approximately C$235 million) with 26.1% IRR at long term consensus metal prices including $1,485 per ounce gold.
    • After-tax NPV of $316.3 million at a 6% discount rate (approximately C$422 million) with 37.8% IRR at spot prices as of August 4, 2020 including $1,998 per ounce gold with gold generating 52% of revenue.
    • Includes the known underground mineral resources at Back Forty, increasing the life of mine to 12 full years.
    • Life of mine production of over 1.5 million gold equivalent ounces with production in Year 1 of 206,000 gold equivalent ounces.
    • Pre-production capital costs of $250.4 million benefitting from significant nearby infrastructure.
    • Potential value enhancement through additional exploration as the deposit remains open at depth.
  • In January 2020, in a unanimous decision, the United States Court of Appeals for the Seventh Circuit (the “Appeals Court”) upheld the dismissal of a lawsuit related to Aquila’s Wetlands Permit brought by the Menominee Indian Tribe of Wisconsin (the “Tribe”) in the State of Wisconsin. In May 2020, in a unanimous decision, the Appeals Court denied an earlier request by the Tribe for a rehearing of its appeal. This marks the end of the Tribe’s federal challenge to the Back Forty Project.
  • In August 2020, the Company added two key hires to its team:
    • The Company hired Mike Foley as Director of Environment & Infrastructure. Mr. Foley has 32 years of experience as a Civil Engineer in the Upper Peninsula of Michigan and northern Wisconsin.
    • The Company hired Bob Mahin as Director of Exploration. Mr. Mahin is a senior level geologist with thirty years of progressive experience guiding mineral exploration programs. Since 1990, Mr. Mahin has been based in Michigan’s Upper Peninsula and has gained progressive experience from fieldwork to managing multi-million-dollar exploration programs in the pursuit of gold and base metals.
  • In September 2020, the Company held its 2020 annual meeting of shareholders at which the six nominees listed in the management information circular were elected as directors of Aquila. The Company welcomed a new director, Mr. Paul Johnson, to the Board. Mr. Johnson is a mining engineer with 40 years of experience in the mining industry. Prior experience includes serving as Open Pit Project Evaluation Manager for Osisko Gold Royalties and being part of the initial development team for Osisko Mining Corporation’s Canadian Malartic project.
  • In June 2020, the Company announced that it entered into definitive agreements to amend certain terms of its gold and silver purchase agreements with a subsidiary of Osisko Gold Royalties Ltd (“Osisko”) in order to accelerate Aquila’s access to a portion of the outstanding funding under the gold purchase agreement and to provide additional flexibility.
  • In August 2020, the Company achieved DTC eligibility for its common shares from The Depository Trust Company (“DTC”). The DTC is a subsidiary of the Depository Trust & Clearing Corp. and manages the electronic clearing and settlement for the vast majority of publicly traded equities and other securities in the United States. This electronic method of clearing securities accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. The Company’s common shares continue to be listed for trading in the United States on the OTCQB market under the symbol AQARF.

FOURTH QUARTER HIGHLIGHTS

  • As at December 31, 2020, Aquila had cash of $1.8 million and negative working capital of $0.8 million. This compared to cash of $4.0 million and working capital of $1.6 million at December 31, 2019. The decrease in working capital is primarily due to permitting and legal activities at its Back Forty Project. The Company is focused on securing financing in the near-term.
  • In December 2020, the Ingham County Circuit Court in the State of Michigan upheld the final decision of the Michigan Department of Environment, Great Lakes, and Energy (“EGLE”) to issue the Back Forty Mining Permit after a lengthy contested case hearing initiated by two petitioners. Subsequent to its issuance by EGLE, the Mining Permit was upheld by the Judge and an environmental review panel made up of technical experts from various fields.

POST QUARTER HIGHLIGHTS

  • In February 2021, a resolution supporting the mining industry in Michigan was introduced into the Michigan Senate. The resolution has been reported out of committee without changes and is expected to be adopted by the Senate in the current legislative session.
  • On February 1, 2021, the Company appointed Guy Le Bel as President & CEO of Aquila. Barry Hildred transitioned to the role of Executive Chair of the Board of Directors and Ted Munden, outgoing Chair of the Board of Directors, was appointed to the position of Lead Director. Mr. Le Bel brings more than 35 years of experience in business and project development, strategic and financial planning, and permitting in the Americas to Aquila. Most recently, he was CEO and CFO of Golden Queen Mining Ltd. until its acquisition in 2020 by Falco Resources Ltd. Mr. Le Bel holds an MBA Finance from Ecole des Hautes Études Commerciales (Montreal), a Master Applied Sciences, Mining Engineering from the University of British Columbia and a B.Sc. Mining Engineering from Université Laval. He is a Professional Engineer (O.I.Q.).
  • In March 2021, Aquila announced that it entered into definitive agreements (the “2021 Stream Agreement Amendments”) with Osisko to amend certain terms of the Gold Stream and Silver Stream in order to provide additional flexibility. Under the terms of the 2021 Stream Agreement Amendments, Osisko agreed to adjust certain milestone dates under the Gold Stream and the Silver Stream to align the streams with the current project development timeline.
  • In March 2021, Aquila engaged Osisko Technical Services (“OTS”) to lead an optimized feasibility study (the “Feasibility Study”) for the Back Forty Project. OTS’ technical team has a proven track record of project execution. Aquila will leverage the team’s combined engineering, permitting, construction and operating expertise to unlock value and advance the Back Forty Project through its next phase of development.
  • In January 2021, an administrative law judge for the Michigan Office of Administrative Hearings and Rules (the “Judge”) issued a decision denying the prior issuance of the Back Forty Wetlands Permit. In his decision, the Judge determined that Aquila’s groundwater model does not provide a reliable identification of wetland impacts and therefore found the permit application to be administratively incomplete. The Judge also determined that Aquila did not provide a complete assessment of potential alternatives to its proposed plan. Aquila has appealed the Judge’s decision to the EGLE environmental review panel (the “Panel”). The Panel is expected to render a decision in the second half of 2021. The Panel has the authority to adopt, remand, modify, or reverse, in whole or in part, the Judge’s decision. The decision of the Panel will become the final decision of EGLE.
  • In January 2021, a Michigan Public Service Commission Administrative Law Judge rejected Alger Delta Power Cooperative’s motion which objected to Upper Michigan Energy Resources Corporation’s (UMERC) filing of its Notice of Intent to Serve the Back Forty Mine. The Company believes this decision paves the way for Aquila to choose whichever electrical service provider it deems best for the Back Forty Project.
  • On March 24, 2021, the Company announced that it filed a preliminary short form prospectus in connection with a marketed equity offering (the “Offering”). On March 25, 2021, the Company announced that, in light of current market conditions, it determined not to proceed with the Offering. Aquila is working with its advisors to consider and evaluate various strategic alternatives to maximize shareholder value, including looking to realize value from its Wisconsin properties.

OUTLOOK

  • The Company will continue to advance its Back Forty Project in Michigan where the main objectives are completing the optimized Feasibility Study and securing the remaining permits required for construction and operations. The Feasibility Study will incorporate both the open pit and underground mine plans. Following the completion of the Feasibility Study, the Company will submit revised permit applications to EGLE to align the permits with the Feasibility Study design. EGLE previously issued the Company the four key permits required to build and operate the Back Forty Project, being a Mining Permit, Air Permit, NPDES Permit, and a Wetlands Permit (which was subsequently denied by the Judge in January 2021), based on the development plan contemplated in the Company’s open pit only feasibility study filed on SEDAR on September 7, 2018. The Company believes that permit applications that reflect the Feasibility Study design will demonstrate reduced environmental impact and a longer mine life for the benefit of all stakeholders.
  • Aquila will continue to advance its appeal of the Judge’s decision to deny the issuance of the Back Forty Wetlands Permit. Through its appeal, at a minimum, Aquila is seeking to clarify certain aspects of the decision to facilitate further permitting efforts for the Back Forty Project. In parallel with its appeal, Aquila will work closely with EGLE to reach consensus on the groundwater model.
  • As the Company works through the Wetlands Permit appeal and continues its collaboration with EGLE in support of a revised Wetlands Permit application, if required, the Company will conduct technical studies to support the optimized Feasibility Study that will seek to evaluate areas of opportunity. These include opportunities to:
    • Simplify the process flowsheet and increase gold recoveries in light of improved metal prices; and
    • Optimize the mine plan to enhance economics, reduce environmental impact, and improve the Project configuration and strip ratio.
  • The Company will continue its efforts to secure additional financing and, in parallel, will evaluate various strategic alternatives to maximize shareholder value.

Metals Update 30/03/2021

Steppe Gold talks 2020 revenue, omits P&L from NR

Steppe Gold Ltd. has released its financial results for the fourth quarter and year ended Dec. 31, 2020.

The full version of the condensed interim consolidated financial statements, and management’s discussion and analysis can be viewed on the company’s website or under the company’s profile on SEDAR. Amounts are expressed in U.S. dollars unless otherwise noted.

Steppe Gold president and chief executive officer, Bataa Tumur-Ochir, commented, “We are very pleased to report a strong start to production at the ATO gold mine with operating cash flow from mine operations in 2020 of $32.6-million, on revenue of $52.1-million, in an approximate nine months of production.

“Most importantly we are proud to report a zero accident safety record at the project, and our exemplary environmental record has been recognized with a 93-per-cent result on the latest environment audit.

“Cash costs remain at market-low levels at $607 per ounce sold for the year and this allowed us to build up a solid cash balance, ending the year at $32.6-million. Discussions with Mongolian and international lenders are progressing well and this supports our optimistic outlook for a timely debt financing for the phase 2 expansion now under way.

“We have now mined approximately 1.7 million tonnes of ore and 1.25 million tonnes stacked on the leach pad. With a new fixed crusher in place this summer, we are planning a record year for stacking in 2021. We have paused production in the first quarter with extreme cold weather conditions and we expect to resume production shortly. We have seen some bottleneck in supply of critical reagents and this will impact second quarter production as we conserve supplies for the important summer months. Hopefully this issue is temporary and will be resolved shortly.

“With the ATO resource now at 2.45 million ounces gold equivalent, and procurement of long lead capital items under way, we are focused on increasing our production run rate from the oxide phase through 2021 and 2022 and executing the phase 2 expansion which has already begun.”

Year ended Dec. 31, 2020, highlights (all figures in thousands of U.S. dollars unless stated)

  • Revenue for the year ended Dec. 31, 2020, was $52,097 on sales of 31,733 gold ounces and 13,710 silver ounces with average realized prices per ounce of $1,822 and $20 respectively;
  • Operating income from mine operations, before depreciation and depletion, was $32,551;
  • Consolidated group adjusted earnings before interest, taxes, depreciation and amortization for the year were $24,399;
  • Year-end cash, restricted cash and savings accounts balance was $32,605; bank debt is $10,610;
  • Cash costs for the year ended Dec. 31, 2020, were $607 per ounce sold;
  • All-in sustaining cost (AISC), before expensed exploration, for the year ended Dec. 31, 2020, was $839 per ounce sold;
  • During the year ended Dec. 31, 2020, 1,138,209 tonnes of ore were mined and 699,204 tonnes of ore stacked with an average gold grade of 2.03 g/t and an average silver grade of 8.88 g/t;
  • The company expects to pay minimal income tax in respect of the 2020 financial year due to COVID-19 pandemic related tax exemptions;
  • The company announced a resource update on Feb. 24, 2021, for the ATO gold mine. This update shows a doubling of the resource to 2.45 million ounces gold equivalent and now supports a planned production profile of approximately 150,000 gold equivalent ounces per year and an estimated 10-year plus mine life;
  • Work is well advanced on the Bankable feasibility study for the phase 2 expansion of the ATO gold mine. Incorporating the recent resource update and a detailed series of new metallurgical work, the BFS is due for release in summer 2021;
  • The company completed an active period of drilling at ATO and Mungu in 2020, with drilling continuing into early December, 2020. The focus was on extension and infill drilling and contributed to the resource upgrades on the existing ATO deposits and the maiden resource on the Mungu discovery.

Fourth quarter highlights (all figures in thousands of U.S. dollars unless stated)

  • Revenue for the quarter was $13,217 on sales of 7,923 gold ounces and 3,429 silver ounces with average realized prices per ounce of $1,882 and $23 respectively;
  • Operating income from mine operations before depreciation and depletion was $8,349;
  • Consolidated group adjusted EBITDA for the quarter was $5,553;
  • Cash costs for the quarter were $604 per ounce of gold sold;
  • All-in sustaining cost, before expensed exploration, for the quarter was $902 per ounce sold;
  • During the quarter, 291,455 tonnes of ore were mined and 206,703 tonnes of ore were stacked on the leach pad with an average gold grade of 2.26 g/t and an average silver grade of 9.22 g/t.

Details of non-IFRS performance measures can be found in the company’s management’s discussion and analysis.

Operational and financial summary

The ATO gold mine is the sole operating mining asset of the company. Prior period comparables have been included where appropriate in relation to commercial production beginning in 2020.

Outlook

The company has continued to mine and stack throughout the winter months at planned rates. It now has approximately 1.25 million tonnes of ore stacked on the leach pad.

The company paused leaching and gold production in the first quarter of 2021 as cold weather made leaching conditions less favourable. This cold weather disruption will be remedied for the 2021/22 winter season with the installation of a boiler plant to heat process water nearing completion. The company also wanted to conserve key chemicals and reagents for the coming warmer months given the COVID-19-related supply constraints. The company plans to resume leaching and production in April, 2021.

It is targeting annual production in 2021 and 2022 of between 50,000 to 60,000 ounces and then a transition to the fresh rock ores in 2023. Production forecasts for 2021 are dependent on a restart of leaching in April, 2021, and no further delays on procurement due to COVID-19.

The company is now stacking ore on cell 3 of the leach pad. Stacking of the first level of the leach pad (cells 1 to 5) will continue through 2021. Completion of the boiler house, used to warm the barren solution, is planned for summer 2021.

In March, 2021, the company purchased a new crusher through a loan from Capitron Bank. The new crusher will have a crushing capacity of 1,000 tonnes per hour, more than three times the current crusher, and it will fully support planned mining rates for the fresh rock phase where the company has estimated throughput rates of two million to 2.5 million tonnes per annum. Construction of foundations and installation of the new crusher will start in early April and it is scheduled to be operational by July, 2021.

In conjunction with the start of procurement of long lead items, the company continues discussions with Mongolian and international lenders on a multitranche project debt facility to finance the phase 2 expansion, expected to include a grinding circuit, a leach/CIP plant and a flotation circuit. Metallurgical testing is progressing well with encouraging results and the bankable feasibility study is on track for completion in summer 2021.

DRA Global has been retained for the BFS and Base Metallurgical Laboratories has been retained to complete related metallurgical test work. The BFS is based on the updated resource announced in late February. A full 43-101 report will be filed shortly.

An upgraded power solution will be required for the fresh rock phase and a power study was completed in December, 2020, with recommendations now being reviewed. The plan is to use a diesel genset solution initially for the fresh rock expansion as the company executes on grid-based power options.

Kootenay signs Two Times Fred option deal with Centerra

Kootenay Silver Inc. has signed an option agreement with a wholly owned subsidiary of Centerra Gold Inc., whereby Centerra is granted an option to earn a 70-per-cent interest in the Two Times Fred property located in the Nechako plateau of central British Columbia.

A total of $6-million in exploration expenditures and $500,000 in cash payments must be incurred and made over a four-year period for Centerra to earn a 70-per-cent interest. The first year requires a work expenditure of $1-million with a minimum commitment of $650,000. Current plans for this year’s work include up to 1,000 metres of trenching and 20 drill holes. Upon the fulfilment of these conditions, the two companies will enter a standard joint venture agreement with Kootenay retaining a 30-per-cent interest, and financing of further work will be done on a pro rata basis amongst the joint venture partners.

James McDonald, president and chief executive officer of Kootenay Silver, states: “We are very pleased to have signed an agreement with major gold producer Centerra Gold Inc. We look forward to benefiting from Centerra’s expertise and consider their participation via the option agreement a reflection of our belief that Two Times Fred has the potential to host a gold deposit of significant size.”

Two Times Fred

The Two Times Fred property is host to a large classic low-sulphidation epithermal gold vein system. It is a grassroots discovery made by the Kootenay Silver team. Over the past several years Kootenay has advanced the project with limited drilling, mapping, sampling and geophysical surveys. The project comprises numerous northeast-trending veins over a 1.5-by-three-kilometre trend. Select rock chip sampling at surface has returned assays as high as 12.8 grams per tonne gold and 194 grams per tonne silver. Limited drilling (2,628 metres over 13 drill holes) shows the main identified veins occur as classic vein and vein breccia zones from a few metres to 40 metres wide. Best drill results to date include 7.6 metres of 1.69 g/t gold and 29 g/t silver.

Metals Update 26/01/2021

Eloro drills 257.5 m of 129.6 g/t AgEq at Iska Iska

Eloro Resources Ltd. has released additional results from its diamond drilling program at its optioned Iska Iska silver-polymetallic project in the Potosi department, southern Bolivia. To date, through its Bolivian subsidiary, Minera Tupiza SRL, Eloro has completed 20 holes totalling 5,573 metres from both underground (12) and surface drill holes (eight). Results from the first five underground holes were reported on Nov. 18, 2020. This release reports results for 10 additional holes. Due to the polymetallic nature of the deposit, silver equivalent (AgEq) values have been included for comparative purposes.

Read More

Evergold drills 88.62 m of 0.71 g/t Au at Golden Lion

Evergold Corp. has released the remaining results and has recapped the 2020 drill program on the Golden Lion property in Northern British Columbia. Broad intervals of gold-silver epithermal-style mineralization encompassing higher-grade intervals were intersected in stepouts to earlier reported holes. Inclusive of historical drilling by Newmont, the GL1 Main zone now exceeds 800 metres in strike length. The zone comprises epithermal-style mineralization exposed at surface and associated with a geophysical response that increases with depth below current drill intercepts, suggesting that potentially stronger mineralization, and higher grades, may lie not far below. Evergold is excited to drill this underlying geophysical response in the approaching field season, within a broader program to evaluate extensions along strike.

Read More

Altus Strategies drills five m of 43.83 g/t Au at Diba

Altus Strategies PLC has released further encouraging results from the recently completed 10,308-metre reverse circulation drilling program at its 100-per-cent-owned Diba gold project located in western Mali. Diba hosts a shallow-dipping, near-surface gold deposit and several other prospect areas.

Read More

Abraplata drills 61 m of 190.2 g/t AgEq at Diablillos

The latest assays received from five diamond drill holes completed at the Oculto deposit intercepted significant near-surface silver and gold mineralization, on Abraplata Resource Corp.’s wholly owned Diablillos property in Salta province, Argentina. The holes were designed to develop additional shallow resources within the Whittle pit shell as well as to infill and extendthe current estimated mineral resources.

Read More

Magna Gold CEO reviews 2020 in letter to shareholders

Magna Gold Corp. has provided the following letter to all shareholders from the chief executive officer.

Read More

Lithium Chile samples 29.5 g/t Au at Carmona

Lithium Chile Inc. has provided results of 29.5 grams per tonne gold from its third follow-up exploration program on the southern half of the Central anomaly on its 100-per-cent-owned Carmona gold-silver-copper property. This phase of the exploration program was completed during the second week of January.

Read More

Atico Mining drills three m of 34.1 g/t Au at La Plata

Atico Mining Corp. has provided the last results of its 2020 drilling program at the La Plata precious-metal-rich volcanogenic massive sulphide (VMS) project in Ecuador. These results continue to report very encouraging intercepts of volcanic massive sulfides while the new 2021 drill campaign begins in Ecuador.

Read More

Allegiant Gold reviews 2020, talks 2021 plans

Allegiant Gold Ltd. has provided a corporate update and has outlined its goals and objectives for 2021.

Corporate Mission

“Our overriding goal at Allegiant is prove up a multi-million ounce deposit at Eastside, our Flagship project near the town of Tonopah, Nevada, while carefully managing costs and limiting dilution within our share structure,” stated Peter Gianulis, CEO of Allegiant. “We believe we have all the elements to continue expanding the resources at Eastside in a disciplined and methodical manner,” added Mr. Gianulis. Allegiant’s strategy of focusing on Eastside while farming-out its other attractive and non-core projects has provided the Company with a source of income and, thereby, keeping shareholder dilution to a minimum.

Read More

Alpha Lithium adds second drilling rig at Tolillar

Alpha Lithium Corp. has added a second drilling rig, which will immediately move to start phase two of its three-phase drilling program on Alpha’s 100-per-cent-owned, 27,500-hectare Tolillar salar.

Read More

Japan Gold receives Japan OK for prospecting extensions

Japan Gold Corp. has received acceptance from the Japanese Ministry of Economy, Trade and Industry (METI) of 18 new prospecting rights applications covering extensions to the Barrick Alliance, Mizobe and Onoyama-Yamagano projects in the Hokusatsu region of the Southern Kyushu epithermal gold province.

Read More

Kootenay joint venture plans exploration at Cervantes

Kootenay Silver Inc.’s exploration program has been approved by the Cervantes joint venture. The plan calls for a two-phase, $1.13 million CDN exploration program in 2021 for the Cervantes porphyry gold-copper property in Sonora, Mexico. The first phase calls for an $85,000 program of sampling and mapping. The second phase is a $1.05 million dollar drilling program to start sometime in the fall. Aztec and Kootenay recently formed a 65/35 joint venture (“JV”) respectively and the JV Management Committee met last week to review and approve the 2021 program as detailed by the operator in an Aztec news release today and para phrased below.

Read More

Canada Silver completes IP survey at Robinson

Canada Silver Cobalt Works Inc. completed a hole-to-hole induced polarization study earlier this month. The study was conducted on the newly discovered, visually high-grade silver vein intersected in hole CS-20-39.

Read More

Fenixoro Gold continues phase 1 drilling at Abriaqui

Fenixoro Gold Corp. has provided an update on its phase 1 diamond drilling program at its Abriaqui project in Antioquia state, Colombia.

Read More

Metals Update 25/01/2021

Alpha Lithium increases bought deal to $20-million

ALPHA LITHIUM INCREASES “BOUGHT DEAL” PUBLIC OFFERING TO $20,000,000

Alpha Lithium Corp. has amended the agreement with Echelon Wealth Partners Inc. and Leede Jones Gable Inc., as co-leads and joint bookrunners, pursuant to which the underwriters have increased the size of the previously announced short form prospectus offering of units of the company at a price of 81 cents per unit. Under the amended terms, the underwriters have agreed to purchase, on a bought deal basis, 24.7 million units for gross proceeds to the company of $20,007,000. The remaining terms remain unchanged.

Read More

Metallic Minerals to begin trading on OTCQB Jan. 26

Metallic Minerals Corp. has received approval from OTC Markets Group Inc. for trading on the OTCQB Venture Market, under the symbol MMNGF, as of Jan. 26, 2021. The company’s common shares will continue to trade on the TSX Venture Exchange under the symbol MMG.

Read More

Galway Metals drills four m of 19.5 g/t Au at Clarence

Galway Metals Inc. has released full and partial assay results from eight new holes plus results from two holes that had some assays pending in the 650-metre gap between the Richard and George Murphy zones (GMZ) at the company’s Clarence Stream project in southwest New Brunswick, Canada. The latest results are highlighted by likely extensions to the east of previously identified veins and new veins to the north, which are denoted as new 1, 2 or 3.

Read More

Eastern Platinum closes $11.78-million rights offering

Eastern Platinum Ltd. has completed the previously announced rights offering to its shareholders (see news release of Dec. 11, 2020), subject to final approval of the Toronto Stock Exchange (the TSX) and the Johannesburg Stock Exchange (the JSE).

Read More

Metals Update 22/01/2021

Serengeti, Sun receive B.C. court order for merger

Serengeti Resources Inc. and Sun Metals Corp. has obtained an interim order from the Supreme Court of British Columbia with respect to the previously announced proposed plan of arrangement, pursuant to which Serengeti will acquire all of the issued and outstanding shares of Sun Metals, on the basis of 0.215 of a postconsolidation (as defined below) Serengeti share for each Sun Metals share, which is 0.43 of a preconsolidation Serengeti share for each Sun Metals share on a preconsolidation basis. Each company will mail out a joint management information circular in connection with the holding of special meetings of the securityholders of Sun Metals, which will be held in accordance with the interim order, and shareholders of Serengeti to approve the Transaction and related matters. The meetings are scheduled to be held concurrently on February 26, 2021, with the record date for Serengeti shareholders and Sun Metals securityholders to receive notice of and vote at each of the Serengeti meeting and Sun Metals meeting having been set at January 15, 2021. Subject to receipt of all requisite approvals and waiver or satisfaction of all relevant conditions, closing of the Transaction is expected to be on or about March 4, 2021.

Read More

Fiore Gold files NI 43-101 report for Pan

Fiore Gold Ltd. has filed a report, entitled “NI 43-101 Updated Technical Report on Resources and Reserves Pan Gold Project, White Pine County, Nevada.” The Technical Report, which is dated January 22, 2021 with an effective date of June 30, 2020, was prepared in compliance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects ("NI 43-101") and is available under Fiore’s profile on SEDAR at http://www.sedar.com and on the Company's website at fioregold.com.

Read More

Tristar appoints Van Den Akker as independent director

Tristar Gold Inc. has appointed Jessica Van Den Akker to the board of directors as an independent director. Ms. Van Den Akker will also act as chairperson of the audit committee. Brian Irwin will be standing down from the board of directors but will continue to act as corporate secretary.

Read More

Moneta files technical report for Golden Highway

Moneta Porcupine Mines Inc. has filed the technical report covering the updated mineral resource estimate for the Golden Highway project, 110 kilometres east of Timmins, Ont.

Read More

Critical Elements increases bought deal to $15-million

In connection with its previously announced bought deal private placement offering, Critical Elements Lithium Corp. and a syndicate of underwriters led by Paradigm Capital Inc. and Cantor Fitzgerald Canada Corp., and including Stifel GMP and Raymond James Ltd., have agreed to increase the size of the offering to raise total gross proceeds of $15,000,040. The corporation will now issue 13,636,400 units of the corporation at $1.10 per unit.

Read More

Metals Update 21/01/2021

Alpha Lithium to offer warrant exercise program

Alpha Lithium Corp. has determined it is in the best interest of shareholders to raise additional capital to finance its business plans. The company does not, however, wish to dilute its current shareholders any further than is absolutely necessary. Accordingly, the company has determined to implement an early warrant exercise program as more particularly described below for eligible outstanding warrants. The essential elements of the incentive program are that the company will issue additional warrants to current eligible warrantholders in consideration of the early exercise of outstanding eligible warrants. The company notes the implementation of the incentive program is subject to TSX Venture Exchange approval.

Read More

Ynvisible appoints Robinson as CEO

Ynvisible Interactive Inc. has appointed Michael Robinson as its new chief executive officer. Jani-Mikael Kuusisto is appointed as senior vice-president, ventures, and continues as vice-chairman of the board of directors.

Read More

Highgold drills 11 m of 8.6% Zn at Johnson Tract

Highgold Mining Inc. has released new assay results from the 2020 exploration drilling program at its flagship Johnson Tract polymetallic gold project in south-central Alaska. Results reported today include drill intersections that continue to expand the down-plunge and up-plunge extents of the JT deposit (JT) and also demonstrate the continuity of the deeper footwall copper-silver zone (FCZ).

Read More

QMX suitor Eldorado offers $132M in cash, shares

Eldorado Gold Corp. and QMX Gold Corp. have entered into a definitive arrangement agreement pursuant to which Eldorado will acquire all of the outstanding shares of QMX (not already owned by Eldorado) for total consideration of approximately $132-million on a 100-per-cent and fully diluted basis or 30 cents per QMX share. Eldorado currently owns 68,125,000 shares of QMX, or approximately 17 per cent of QMX shares outstanding, which it purchased at six cents per share in a private placement on Dec. 30, 2019.

Read More

GR Silver Mining appoints Catchpole as exploration VP

GR Silver Mining Ltd. has appointed Dr. Honza Catchpole as vice-president of exploration, effective Jan. 20, 2021.

Read More

Orea Mining closes $1.4-million financing

Orea Mining Corp. has closed its non-brokered private placement previously announced on Jan. 14, 2021.

Read More

American Manganese prepares reactor for production

American Manganese Inc.’s specialized cathode reactor is being prepared to produce its first test batch of cathode precursor materials. American Manganese acquired the specialized reactor for cathode precursor production, which is a valuable input for lithium-ion battery manufacturing. The reactor is capable of producing modern cathode materials such as lithium-nickel-manganese-cobalt oxide (NMC) and lithium-nickel-cobalt-aluminum oxide (NCA), both of which are commonly used in electric vehicle batteries.

Read More

Cartier Resources begins drilling 30,000 m at Benoist

Cartier Resources Inc. has commenced drilling on the Benoist property, located 65 kilometres northeast of Lebel-sur-Quevillon in the province of Quebec. The program follows the maiden NI 43-101 resource estimate published Dec. 17, 2020. Two drill rigs with directional drilling crews will be employed to complete the four-phase program for a total of roughly 30,000 metres.

Read More

Greencastle closes $100,000 private placement

Greencastle Resources Ltd. has closed its previously announced non-brokered private placement through the issuance of an aggregate of one million units of the company at a price of 10 cents per unit for gross proceeds of $100,000.

Read More

Frontier Lithium plans phase IX drilling at PAK

Frontier Lithium Inc. is planning a phase IX diamond drill program on the PAK lithium project, located in the Red Lake area of Northwestern Ontario. The imminent 3,000 metre diamond drill program is driven by recommendations from a pre-economic assessment (PEA) report that is currently under way. The 15-hole program is designed to primarily upgrade the 12.2 million tonnes (MT) of inferred resource on the Spark deposit to indicated and measured categories as well as to step-out on the known resource for potential expansion. The PAK lithium project contains Ontario’s highest-grade and largest lithium resource which is located in an emerging premium lithium mineral district referred to as the “Electric Avenue” that is located in the Great Lakes region of Northern Ontario.

Read More

Eloro Resources prospectus offering

Effective Dec. 30, 2020, the company’s final short form prospectus dated Dec. 29, 2020, qualifying the distribution of up to 3,548,400 units of the company, excluding underwriters’ overallotment option, was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the Ontario Securities Commission as principal regulator. Under Multilateral Instrument 11-102, Passport System, the prospectus is deemed to have been filed with and receipted by each of the British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador securities commissions.

Read More

Critical Elements arranges $10-million financing

Critical Elements Lithium Corp. has entered into an agreement with Paradigm Capital Inc. and Cantor Fitzgerald Canada Corp. (the co-lead underwriters), on behalf of a syndicate of underwriters, in connection with a bought deal private placement offering of 9,091,000 units of the corporation to be issued at $1.10 per unit for gross proceeds of $10,000,100.

Read More

GoviEX closes $8-million private placement

GoviEX Uranium Inc. has completed a non-brokered private placement with the issue of 32 million units at a price of 25 cents per unit for gross proceeds of $8-million.

Read More

Power Metals, Exiro Minerals property agreement amended

The TSX Venture Exchange has accepted for filing a fifth amending agreement dated Oct. 30, 2020, between Power Metals Corp. and Exiro Minerals Corp. (the vendor), amending an agreement dated May 1, 2017, and subsequently amended Aug. 23, 2017, April 25, 2018, April 10, 2019, and May 1, 2020. In lieu of $75,000 cash and 384,621 shares due, the company will issue 920,000 common shares.

For additional details, please see the company’s news release dated Dec. 24, 2020.

Metals Update 20/01/2021

Radisson drills eight m of 14.9 g/t Au at O’Brien

Radisson Mining Resources Inc. has released significant high-grade gold intercepts from the continuing exploration drill program at its 100-per-cent-owned O’Brien gold project located along the Larder-Lake-Cadillac break, halfway between Rouyn-Noranda and Val d’Or in Que., Canada.

Read More

Kincora drills 74 m of 0.4% Cu, 0.37 g/t Au at Trundle

Kincora Copper Ltd. has provided further assay results from continuing drilling at the Trundle brownfield project located in the Macquarie Arc of the Lachlan fold belt in New South Wales, Australia.

Read More

Critical Elements’ Rose info received by committee

The joint assessment committee established by the Impact Assessment Agency of Canada and the Cree nation government confirmed on Jan. 14, 2021, having received all information required to allow the committee to complete the environmental assessment of Critical Elements Lithium Corp.’s Rose lithium-tantalum project and prepare the draft environmental assessment report. This is a significant step in the federal process of obtaining the authorization for the Project, which runs parallel to the provincial process updated in the news release of January 18, 2021. We are grateful to the governmental employees involved in both the federal and provincial permitting processes for their ongoing efforts through this difficult COVID-19 impacted work environment.

Read More

FPX Nickel expects to settle $3.45M debt for shares

FPX Nickel Corp. intends to convert the full amount of principal and interest owing on the long-term loan provided to the company by a private shareholder, totalling approximately $3,453,051, into 5,312,386 common shares of the company at a price of 65 cents per share. On completion of the debt conversion, the private shareholder loan will be extinguished and the company will be debt free.

Read More

Kincora subsidiary hit with $950,000 (U.S.) in taxes

Kincora Copper Ltd.’s Mongolian subsidiary, Golden Grouse IBEX LLC (GGI), has received a tax act for 2.7 billion tugriks, approximately $950,000 (U.S.), from the Mongolian Tax Authority (MTA).

Read More

Plateau Energy Metals CEO Holmes resigns

Alex Holmes, Plateau Energy Metals Inc.’s chief executive officer, has notified the board of directors of the company of his intention to resign from his position of CEO, effective Feb. 12, 2021. Mr. Holmes will continue to serve the Company as a strategic advisor and a member of the Board of Directors. The Compensation, Corporate Governance and Nominating Committee of the Board will commence a process to identify a successor. Until such time, Dr. Laurence Stefan the Company’s President and Chief Operating Officer, will assume the role of interim CEO.

Read More

Metals Update 19/01/2021

Roscan Gold drills 30 m of 2.96 g/t Au at Kabaya

Roscan Gold Corp. has released positive diamond and RC drill results from 23 holes totalling 4,158 metres at its Kabaya target with multiple holes intersecting high gold grades over wide intervals. Drill hole DDDBS20-008 intersected 2.96 grams per tonne over 30 metres starting from surface. Drill hole DDDBS20-009 intersected 2.38 g/t gold over 20 m from 46 m. Drill hole DDDBS20-006 intersected 2.66 g/t over 17 m from 166.2 m and hole DDDBS20-14 ended in gold mineralization at 247.2 m depth.

Read More

Anaconda drills 14.5 m of 1.86 g/t Au at Goldboro

Anaconda Mining Inc. has released final drill results from its completed infill drill program at its 100-per-cent-owned Goldboro gold project in Nova Scotia, Canada. The drill program comprised 17,941.7 metres of diamond drilling and was designed to convert priority inferred mineral resources to measured and indicated mineral resources of the Goldboro deposit as part of a mineral resource update anticipated for the first quarter of 2021 and as part of the continuing feasibility study.

Read More

Freeman Gold begins metallurgical testwork at Lemhi

Freeman Gold Corp. has commenced metallurgical testwork on its 100-per-cent-owned Lemhi gold project located in Idaho, United States. This work is part of Freeman’s integrated technical program to advance towards a production decision. A comprehensive review of the historical information and test work conducted by previous operators has been completed. Freeman’s metallurgical team has designed a test work program to follow-up and enhance gold recoveries, ultimately leading to a project flowsheet for the Lemhi Project. The Company is utilizing samples from both historical and fresh drill core from the 2020 exploration drill program.

Read More

Superior Gold appoints Marantelli as director

Superior Gold Inc. has appointed Damien Marantelli to its board of directors.

Read More

Alpha Li receives Tollilar phase 2 drilling licences

ALPHA LITHIUM RECEIVES DRILLING LICENSE FOR PHASE TWO OF DRILLING AT TOLILLAR LITHIUM PROJECT IN ARGENTINA Alpha Lithium Corp. has received approval and drilling licences for phase 2 of its three-phase drilling program on Alpha’s 100-per-cent-owned, 27,500-hectare Tolillar salar.

Read More

Highgold Mining 1.85-million-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced Dec. 15, 2020.

Read More

Osisko Metals 4,120,250-share private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 10, 2020.

Read More

Metals Update 18/01/2021

Audiences publiques webdiffusées sur le projet Rose lithium-tantale de Corporation Lithium Éléments Critiques

MONTRÉAL, QC / ACCESSWIRE / 18 janvier 2021 / Corporation Lithium Éléments Critiques (la « Société » ou « Critical Éléments ») (TSXV:CRE)(OTCQX:CRECF)(FSE:F12) souhaite partager une mise à jour concernant le Projet Rose lithium-tantale (le « Projet Rose lithium-tantale » ou le « Projet »).

Read More

Superior Gold produces 63,065 oz Au in 2020

Superior Gold Inc. has released detailed production results for the fourth quarter and full year 2020 and provides full-year 2021 guidance for the company’s 100-per-cent-owned Plutonic gold operations, located in Western Australia. All currency figures are in U.S. dollars unless otherwise stated.

Read More

QMX Gold files Bonnefond South report on SEDAR

QMX Gold Corp. has filed on SEDAR a technical report titled “Mineral Resource Estimate Update For the Bonnefond South Intrusive Project.” The Technical Report effective date is October 31, 2020. The Bonnefond South property is located approximately 25 km to the east of Val d’Or, Quebec (Figure 1) and was completed by BBA Inc. in accordance with National Instrument 43-101 standards and rules. The report was prepared by Mr. Pierre-Luc Richard, P.Geo.; Mrs. Charlotte Athurion, P.Geo. and Mr. Jeffrey Cassoff, P.Ing. from BBA Inc., all are “Qualified Persons” as defined by NI 43-101.

Read More

Millrock drills 93 m of 0.29 g/t Au at 64North

Millrock Resources Inc. has provided assay results from road cut sampling at the Sunrise prospect, drilling at the Aurora prospect of the West Pogo block and trenching at the E1 prospect, Eagle block, at the 64North gold project, Alaska. 64North is a large project situated near Northern Star’s Pogo Mine. Resolution Minerals (ASX: RML, “Resolution”) is earning an interest in the project by funding exploration.

Read More

Critical’s Rose to be discussed Feb. 16, Feb. 18

Critical Elements Lithium Corp. has provided an update on the Rose lithium-tantalum project.

Read More

Canada Nickel files Crawford report on SEDAR

Canada Nickel Company Inc. has filed on SEDAR of an amended and restated independent National Instrument 43-101 — Standards of Disclosure for Mineral Projects entitled: “Independent Technical Report and Mineral Resource Estimates Crawford Nickel-Cobalt Sulphide Project: Main Zone (Update) and East Zone (Initial) Deposits” prepared by Scott Jobin-Bevans (PhD, PMP, PGeo), John Siriunas (MASc, PEng) and David Penswick (PEng).

Read More

Brixton Metals drills 439 m of 0.34% CuEq at Thorn

Brixton Metals Corp. has provided the last batch of 2020 drilling results at its wholly owned Thorn project, located in the Golden Triangle of northwestern British Columbia.

Read More

Orvana produces 18,398 oz AuEq in Q4

Orvana Minerals Corp. has provided operational results for the first quarter of fiscal 2021.

Read More

Victory Metals closes $18.04M private placement

On Jan. 15, 2021, further to Victory Metals Inc.’s news releases in December, 2020, the company closed, subject to final approval of the TSX Venture Exchange, the second and final tranche of its non-brokered private placement financing of subscription receipts of Victory. In connection with the second and final tranche of the Private Placement, Victory issued 5,237,200 Subscription Receipts at a price of $0.55 per Subscription Receipt (the (“Subscription Price”) for gross proceeds of $2,880,460. Together with the first tranche of the Private Placement, Victory issued an aggregate of 32,806,902 Subscription Receipts for aggregate gross proceeds of $18,043,796.10.

Read More

Blue Lagoon samples up to 90.6 g/t Au at Dome

Blue Lagoon Resources Inc. has released the results from its fall prospecting program and has added a second drill rig to its 20,000-metre drill program currently under way on its Dome Mountain gold project — an all-year-round-accessible property located a short 50-minute drive from Smithers, B.C.

Read More

Aftermath Silver pays finder’s fee to Elysium

Aftermath Silver Ltd. has paid finder’s fees to Elysium Mining Ltd., in connection with the previously announced initial closing of the acquisition of the Berenguela silver-copper project, pursuant to an acquisition agreement with SSR Mining Inc. The company issued 346,279 common shares in the capital of the company to Elysium and made prior cash payments to Elysium in the aggregate amount of $109,477 (U.S.). The finder’s fee shares are subject to a statutory hold period of four months plus one day, in accordance with applicable securities laws, expiring on May 15, 2021.