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   Gold/Mining/EnergySudbury Saturday Night -- Nickel Mining & Nickel Prices


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To: LoneClone who wrote (7768)8/13/2021 6:49:38 PM
From: LoneClone
   of 8370
 
Horizonte Minerals Announces Interim Results

ca.finance.yahoo.com

Thu., August 12, 2021, 11:00 p.m.·2 min read

INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021

LONDON, UK / ACCESSWIRE / August 13, 2021 / Horizonte Minerals Plc,(AIM:HZM)(TSX:HZM) (the 'Company' or 'Horizonte'), the nickel development company focused on developing its ferro-nickel project in Brazil ('Araguaia' or 'the Project'), announces it has today published its unaudited financial results for the six month period to 30 June 2021 and the Management Discussion and Analysis for the same period. Both of the aforementioned documents have been posted on the Company's website www.horizonteminerals.com and are also available on SEDAR at www.sedar.com.

Highlights for the Period

  • Project financing of Araguaia nearing completion with credit approval process underway following completion of due diligence by the International Lenders.

  • Senior Debt Facility expected to benefit from significant Export Credit Agency Support.

  • Cornerstone strategic investor and final offtake agreements well advanced and expected to be finalised shortly after credit approvals.

  • Horizonte maintained a strong cash position of £22.2 million following completion of an £18 million equity fundraise in February 2021.

  • Financing discussions remain on track. Credit committee approval for the senior debt facility expected in Q3 2021 as previously announced

  • Vermelho progressing with Ramboll awarded Environmental and Social Impact Assessment contract.

  • Events post the Reporting Date

  • Significant progress on key project execution preparation activities, including competitive tendering for supply of key processing equipment, electric furnace and project management (EPCM) services.

  • Operational Readiness Plan well advanced with all key permits in place for commencement of construction.

  • Key environmental and social programmes continuing in preparation for construction phase.

  • Mobilisation of Head of Projects to Brazil and appointment of Engineering, Community, Health and Safety Managers continues the build out of the project execution team.

  • Publication of 2020 Sustainability Report in accordance with Global Reporting Initiative.

  • Click on, or paste the following link into your web browser, to view the full announcement:
    http://www.rns-pdf.londonstockexchange.com/rns/5244I_1-2021-8-12.pdf

    This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    SOURCE: Horizonte Minerals PLC

    View source version on accesswire.com:
    accesswire.com

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    To: LoneClone who wrote (7769)8/16/2021 10:33:11 AM
    From: LoneClone
       of 8370
     
    Murchison Confirms Widespread Nickel-Copper-Cobalt Surface Mineralization at Its PYC Target with Grades up to 1.27% Nickel Equivalent (2.59% Copper Equivalent)

    accesswire.com

    Monday, August 16, 2021 8:17 AM

    TORONTO, ON / ACCESSWIRE / August 16, 2021 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) is pleased to announce that it has received assay results from its June prospecting program at the PYC target area on the 100%-owned HPM (Haut-Plateau de la Manicouagan) property in Quebec. These results, shown in Figure 1, confirm widespread nickel-copper-cobalt surface mineralization across the entirety of the traced 1.7 km strike length of sulphide mineralization ( see June 29, 2021 release). The results are from grab samples and short backpack drill core samples, featuring assays as high as 1.27% Nickel Equivalent or 2.59% Copper Equivalent (0.79% Ni, 0.14% Cu, 0.15% Co) from 0.83 metres of backpack drill core. The assay results also confirm mineralization south-east of the PYC target at the newly discovered Dix showing, which assayed as high as 0.90% Nickel Equivalent or 1.83% Copper Equivalent (0.44% Ni, 0.39% Cu, 0.10% Co) from 0.45 metres of backpack drill core. (Note: the backpack drill core samples are being treated as grab samples only used to collect non-weathered sample material.)

    The prospecting results confirm that the PYC target is highly prospective for hosting large-tonnage nickel-copper-cobalt mineralization within a large, semi-massive, pyrrhotite body. The prospecting included the collection of 49 litho-geochemical samples, with 38 of the samples exceeding 0.3% Copper Equivalent (see Figure 1 and Table 1). Murchison has applied for permits to conduct a fall drill program to extensively test PYC.

    Murchison's VP Exploration John Shmyr comments: "We are very excited by the results we are seeing at HPM, and the team cannot wait to complete more work on the project - it has amazing potential that is now being realized. If the mineralization at PYC continues at depth, then we may be looking at a sulphide body with significant tonnage potential. We look forward to commencing our first drill program on the project since 2009."

    The thickness of the PYC mineralization has yet to be confirmed by drilling but was systematically tested with backpack drilling at one location where it was determined to be approximately 59 metres wide. The mineralization was split between two parallel limbs (28 metres and 31 metres wide) that were separated by 30 metres of unmineralized gabbro, but other locations appear to consist of a single, thicker horizon. The depth extent of the mineralization is currently unknown, but preliminary geophysical modelling suggests it extends to at least 300 metres depth, basically the detection limit of the EM survey. Murchison has submitted an 8 kg preliminary metallurgical sample collected from PYC during the prospecting program to the Saskatchewan Research Council (SRC) for QEMSCAN analysis and preliminary flotation tests to determine the host mineral of the nickel mineralization as well as a preliminary flowsheet for the recovery of the contained nickel, copper, and cobalt. Murchison expects to receive these results soon.

    The PYC target is located approximately 8 km from existing power and rail infrastructure. Until completion of this field program, PYC had only been tested with two short drill holes in 2001 (hole 151-03) and 2009 (hole 09-701-01). These two holes respectively intersected 18.5 metres (ending in mineralization) and 12.0 metres of disseminated to semi-massive sulphides grading 0.26% nickel, 0.13% copper and 500 ppm cobalt and 0.27% nickel, 0.20% copper and 500 ppm cobalt. Historic grab samples collected by Falconbridge in 1999 at PYC assayed as high as 0.76% Ni and 0.93% Cu.

    Figure 1 - Prospecting Assays Results mapped at PYC and DIX

    Table 1 - PYC Prospecting Assay Highlights

    *Copper Equivalent (CuEq) and Nickel Equivalent (NiEq) values are based on the following metal prices from Aug 9th, 2021: $8.60/lb Ni, $4.24/lb Cu, and $23.76/lb Co.

    Figure 2 - Gossan defining surface mineralization at PYC

    Figure 3 - Example of sulphide mineralization from PYC observed in backpack drill core

    PYC Fall 2021 Drill Plan

    Murchison plans to conduct a fall drill program to delineate the PYC target once permits have been received.

    The proposed drill plan considers the following:

    • Drill hole spacing of 100 m (along strike) by 100 m (along dip).
    • The Maxwell Model EM plates.
    • The existing drill hole, 151-03, which was terminated in mineralization, thus all drill holes were planned beyond this horizon.
    • The 2021 prospecting program mapped the outcropping expression of the known mineralization.
    The PYC target is currently defined by two drill holes, 151-03 and 09-701-01; the drill program is designed to test the subvertical Maxwell Model EM plates associated with 151-03 (Figure 4). The proposed drill program may be extended to the northwest and southeast flexures observed in the EM plates.

    Figure 4 - Long-section view looking northeast and plan view of the PYC Maxwell Model EM plates, the proposed drill hole targets, and drill hole 151-03 displaying assay nickel concentrations.

    The 18 proposed drill holes are planned along nine fences, spaced 100 m apart, over a strike length of 800 m. The upper-most hole in each fence was designed to intersect the Maxwell Model EM plate 50 m below the topography. The lower hole in each fence is designed to intersect the Maxwell Model EM plate 100 m below the upper hole to provide maximum coverage along the fence. In areas where the Maxwell Model EM plate does not extend at least100 m below the upper designed hole, the along-dip spacing was reduced to 50 m. Six of the fences use along-dip spacing of 100 m, and the remaining three fences use along-dip spacing of 50 m. One hole is proposed below the existing 151-03 hole at a 50 m spacing. The program totals 3,550 m with drill holes ranging between 120 m and 345 m in length.

    Figure 5 - Oblique view looking north-northeast of the PYC Maxwell Model EM plates, the proposed drill holes, and drill hole 151-03 displaying assay nickel concentrations.

    The Maxwell Model EM plates that formed the basis of the targeting suggest that the conductive body is sub-vertical, but at the decimeter-scale the plates undulate dip direction from NE (75° at the shallowest) to SW (62° at the shallowest). The conductive body likely has a reasonably constant strike and dip that needs to be confirmed through drilling. The proposed drill plan will provide guidance for the start-up, but the drill program will be dynamic in nature.

    The Company will re-evaluate the Barre de Fer prospect (1.5 km north-east of PYC) to create an initial mineral resource estimate for the historically drilled nickel-copper-cobalt mineralization. Barre de Fer has exceptional drill intercepts, including 43.15 metres grading 1.74% Ni, 0.90% Cu and 904 ppm Co in hole HPM-08-03 drilled in 2008. (2.45 % NiEq or 4.94% CuEq)

    Local Infrastructure

    The HPM project is located east of the Manicouagan Crater, the site of a major meteorite impact estimated to be 215 million-years-old. The extensive water reservoir supports five hydro-power installations. The existing Quebec Cartier rail line, located 8 kilometres west of the PYC project area, links Labrador City to Port Cartier and Sept Iles, two major iron ore port facilities.

    Qualifying Statement

    The foregoing scientific and technical disclosures on the HPM project have been reviewed by John Shmyr, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan and current holder of a special authorization with the Ordre des Géologues du Québec. Mr. Shmyr is a Qualified Person as defined by National Instrument 43-101.

    About Murchison Minerals Ltd. (TSXV: MUR)

    Murchison is a Canadian-based exploration company focused on the exploration and development of the 100%-owned Brabant Lake zinc-copper-silver project in north-central Saskatchewan. The Company also owns 100% of the HPM nickel-copper-cobalt project in Quebec and holds an option to earn 100%-interest in the Barraute VMS (Volcanogenic Massive Sulphide) exploration project also located in Quebec, north of Val d'Or. Murchison currently has 108.9 million shares issued and outstanding.

    Additional information about Murchison and its exploration projects can be found on the Company's website at www.murchisonminerals.com. For further information, please contact:

    Jean-Charles (JC) Potvin, President and CEO
    jcpotvin@murchisonminerals.com

    Erik H Martin, CFO
    Tel: (416) 350-3776
    info@murchisonminerals.com

    CHF Capital Markets
    Thomas Do, IR Manager
    Tel: (416) 868-1079 x 232
    thomas@chfir.com

    Forward-Looking Information

    Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    SOURCE: Murchison Minerals Ltd.




    Murchison Minerals Ltd.

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    To: LoneClone who wrote (7770)8/17/2021 3:26:29 PM
    From: LoneClone
       of 8370
     
    Australian Mines finds buyer for Sconi nickel/cobalt

    miningweekly.com

    16th August 2021

    By: Esmarie Iannucci
    Creamer Media Senior Deputy Editor: Australasia

    PERTH (miningweekly.com) – ASX-listed Australian Mines has inked a binding long-term offtake agreement with battery producer LG Energy Solutions for mixed nickel/cobalt hydroxide product from the Sconi project, in Queensland.

    LG Energy Solutions will purchase 71 000 t of nickel and 7 000 t of cobalt in the form of a mixed hydroxide precipitate over an initial six-year term, with the potential to extend the offtake agreement for another five years, by mutual agreement.

    Australian Mines told shareholders on Monday that the offtake agreement was a major milestone for the company, and that the quantities covered in the offtake agreement would account for all of the projected production from Sconi, creating a sound customer foundation to underpin the development of the project.

    The offtake agreement was subject to only one condition precedent, being Australian Mines securing financing for the construction of the Sconi project before the end of June next year.

    The company said on Monday that it would now move to swiftly finalise agreements with financing partners for the A$1.5-billion project, which is expected to have a mine life of 30 years.

    The proposed mine would co-exist alongside a military training facility which forms part of the Australia-Singapore military training initiative.

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    To: LoneClone who wrote (7771)8/18/2021 11:35:49 AM
    From: LoneClone
       of 8370
     
    Recharge Resources Options Nickel Cobalt Project From West Mining

    ca.finance.yahoo.com

    West Mining Corp.
    Tue., August 17, 2021, 8:31 a.m.·5 min read

    VANCOUVER, British Columbia, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Recharge Resources Ltd. (RR: TSX-V) (SLLTF: OTC) (“Recharge” or the “Company”) announces that it has entered into an agreement (the “Agreement”) with West Mining Corp. (“WEST” - CSE) (“West Mining”) whereby the Company may acquire a 75% interest in the Cobalt-Nickel Kagoot Brook project a 4,233-hectare area located in the Bathurst mining camp, New Brunswick, Canada (the “Project”).

    Excerpts from a September 21, 2020 NI 43-101 Technical Report authored by Peter Dadson B.Sc., P.Geo. detail the following information: Historical work on the Kagoot Brook property was largely driven by the results received from a 1981 Geological Survey Branch, New Brunswick Department of Natural Resources stream and spring sediment surveys. The results of the survey returned significantly elevated and anomalous cobalt in silts from both tributaries with values varying from 63ppm to 1,316ppm Cobalt. The results of the survey spurred multiple, multi-faceted exploration campaigns through the 1980s and 1990s.

    In 2018 Explorex Resources Inc. re-processed the 1986-1987 fixed wing airborne magnetic survey data covering the property. The 3D modelling indicated the Kagoot Brook claims are underlain by a synformal fold structure with a fold axis trending near east-west. In December 2018 magnetic and VLF-EM surveys were completed along widely spaced selected logging road access trails. In July and September 2018, a silt sampling program was completed along the two anomalous creeks to confirm the existence and location of the historical silt sample results. A total of 51 silt samples were collected and confirmed the historical results with cobalt values to 3,190ppm Cobalt. The silt sampling program identified a clear and well defined up stream cut-off to the anomalous cobalt silt values. In December 2018, a two-hole NQ oriented core drill program was completed totalling 501m. The program was designed to test the underlying stratigraphy for the possible source of the anomalous stream sediment silt values. The structural data collected from the oriented core suggests that each drill hole may have been collared on opposing limbs of a tight synformal fold structure. Best results 79ppm Cobalt from the two-hole drill program returned. The author concludes that the property merits further exploration.

    A Media Snippet accompanying this announcement is available by clicking on the image or link below:



    Figure 1. Kagoot Brook 2018 VLF and Cobalt Stream Silt Samples
    Recharge CEO and Director, Yari Nieken, states: “Recharge is focused on identifying domestic sources of battery tetals and this Kagoot Brook property adds yet another highly prospective asset to our growing portfolio that includes nickel, lithium and cobalt assets in established mining jurisdictions.”

    “It’s a pleasure to work with a company focussed on the energy sector and Recharge Resources is building a first class portfolio. The deal allows West Mining to still benefit from the Kagoot Brook project whilst keeping our own sights firmly set on the Kena gold and copper project,” commented Nicholas Houghton, President and CEO of West Mining.

    The Transaction

    Pursuant to the Agreement, West Mining has assigned its original agreement made with Great Atlantic Resources Corp. and Explorex Resources Inc. to Recharge. Recharge may acquire a 75% interest in the Project, subject to an underlying 2% NSR pursuant to the underlying agreement, by issuing to West Mining 1,000,000 common shares and assuming the $650,000.00 exploration commitment to be completed before May 10th, 2023 and a $50,000.00 royalty payment to underlying royalty holders by January 23rd, 2022. Recharge shall issue 500,000 common shares to Great Atlantic Resources for the extension on the exploration expenditures.

    The Agreement remains subject to TSX Venture Exchange approval. All shares issued pursuant to the Agreement shall be subject to a hold period of 4 months and 1 day from issuance.

    Additionally, the Company has retained Amherst Baer Consultancy Corp for digital marketing services for 3 months at $105,000 USD.

    About Recharge Resources

    Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to meet the demands of the advancing electric vehicle and fuel cell market.

    On Behalf of the Board of Directors,

    “Yari Nieken”

    Yari Nieken, CEO

    For further information, please contact:

    Recharge Resources Ltd.
    Mr. Joel Warawa
    Phone: 778-588-5473
    E-Mail: info@recharge-resources.com
    Website: www.recharge-resources.com

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Disclaimer for Forward-Looking Information

    Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

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    To: LoneClone who wrote (7772)8/18/2021 12:18:29 PM
    From: LoneClone
       of 8370
     
    Margaret Lake Diamonds: Old Nick Outcrop and Grab Sample Results and Annual General Meeting

    accesswire.com

    Tuesday, August 17, 2021 8:00 AM

    VANCOUVER, BC / ACCESSWIRE / August 17, 2021 / Margaret Lake Diamonds Inc. ("MLD" or the "Company") (TSXV:DIA)(FKT:M85) is pleased to announce at the Company's Annual General Meeting held Thursday August 5 (the "Meeting"), all resolutions proposed were duly passed by the shareholders of the Company.

    Shareholders of the Company approved and re-appointed Neil Foran, Jim Wiesenberg, Patrick Butler and George Kovalyov as Directors for the Company.

    Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, were re-appointed as the Company's auditor for the ensuing year and the Board of Directors were authorized to fix the remuneration to be paid.

    Shareholders also approved both the Company's 10% "rolling" stock option plan and amendment to its article for the Advanced Notice Policy.

    The Board of Directors and Management would like to thank all shareholders for their continued support and confidence.

    Outcrop and grab sample results

    The Company recently carried out rock chip sampling of nickel-cobalt bearing mineralized outcrop (and angular float) located on its Old Nick Nickel-Cobalt property. A total of 11 rock chip samples were collected from the east-central portion of the property and sent to Actlabs (Kamloops, B.C.) for 8 Peroxide Fusion ICP, which delivered the following results:

    ID #TypeLithologyCo %Cr %Ni %S %Mg %Ca %Fe %
    21-2outcropaltered mafic rocks0.0190.350.2014.053.141.2812.5
    21-3outcroparenaceous metasediment0.0040.160.0581.190.810.043.67
    21-4outcropaltered mafic rocks0.010.160.2431.898.242.7210.6
    21-5grabaltered mafic rocks0.0110.190.2632.048.462.2511.5
    21-6outcroparenaceous metasediment0.010.170.2531.729.015.699.55
    21-7grabarenaceous metasediment0.0180.20.2971.66.950.5315.3
    21-8outcroparenaceous metasediment0.0050.150.1182.0514.15.716.75
    21-9grabarenaceous metasediment0.0060.20.1311.793.933.367.1
    21-10grabaltered mafic rocks0.0110.330.2111.466.359.496.98
    21-11grabaltered mafic rocks0.0090.40.1511.444.698.867.77
    21-12outcroparenaceous metasediment0.0090.310.1781.16.3610.47.28


    11 ROCK SAMPLES AVERAGE=0.010.240.191.856.554.589
    (Source: Actlabs report # A21-11010)

    A total of six outcrop samples were taken across an interval of 0.5-1 meter and five grab samples consisted of angular float boulders. Sample lithology (rock type) was identified as altered mafic rocks or arenaceous metasediments (sericitic quartzite). Alternate mixing zone of the two rock types (altered mafic and sericitic quartzite), appears to be a favourable environment of deposition for Ni-Co-Cr bearing mineralization.

    Management intends to explore the depth and lateral extension of the main mineral zone in addition to heap leach SX/EW metallurgical testing of Old Nick mineralization from drill core samples.

    The Old Nick deposit consists of two northeast trending stratiform-type nickel mineralized zones. The deposit was discovered in the 1960's and fieldwork identified two generations of pentlandite occurring interstitially within the pyrrhotite. Elevated nickel values are associated with mariposite (fuchsite) bands and extensive alteration haloes. The dunite (peridotite) and quartzite had similar Ni/Cr values suggesting a common source of metal mineralization. Chromium occurs in mariposite (fuchsite). The Upper Zone has an average width of 100 meters while the Lower Zone is approximately 10 to 20 meters wide. Laterally the zones extend for at least 500 meters along strike. The deposits are hosted in Paleozoic-aged Anarchist Group meta-sediments and mafic rocks and the nickel-bearing zones contain increased calcite-silica-sericite-epidote-fuchsite alteration related to pentlandite-pyrrhotite bearing mineralization. There is significant potential to expand the deposit both along strike and down the dip of the known mineralization as well as within the same prospective stratigraphy elsewhere on the property.

    Bench scale and column leach testing by Applied Mine Technologies Ltd in 1995 - 1996 indicated the potential for economic recovery of nickel and cobalt by acid heap leaching and selective recovery by the Solvent Extraction / Electrowinning (SX/EW) mineral processing. Margaret Lake Diamonds intends to do further leach tests to verify this favourable information.

    In 2007 David K. Makepeace, P. Eng. defined a historic Inferred Mineral Resource estimate of 17.24 million tonnes at a grade of 0.1914% Ni and 0.0095% Co, This estimate was prepared in compliance with National Instrument 43-101, but has not been independently verified by the Company and is not to be relied upon.

    Qualified Person

    The Qualified Person for this news release is Jo Shearer, an independent economic geologist with extensive experience in mineral exploration throughout North America. A Qualified Person under the provisions of National Instrument 43-101.

    Contact Information

    Neil Foran
    Chief Executive Officer
    (604) 681-7735
    neil@margaretlakediamonds.com

    Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

    Forward-Looking Statements

    This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects, which may be accessed through the Company's profile on SEDAR at www.sedar.com.

    SOURCE: Margaret Lake Diamonds Inc.




    Margaret Lake Diamonds Inc.



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    To: LoneClone who wrote (7773)8/19/2021 2:23:12 PM
    From: LoneClone
       of 8370
     
    Gungnir Hits Massive Sulphides at Lappvattnet Nickel Deposit

    accesswire.com

    Thursday, August 19, 2021 6:00 AM

    SURREY, BC / ACCESSWIRE / August 19, 2021 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") is pleased to report that on-going drilling at the Company's Lappvattnet nickel deposit in Sweden continues to intersect sulphide mineralization including a 10-metre core interval containing several narrow sections of massiv:e and semi-massive sulphides in hole LAP21-02. Please click link for drill core photo ( core photo).

    Jari Paakki, CEO commented, "We are off to a great start at Lappvattnet which is highlighted so far by hole LAP21-02. We have submitted samples from this hole for priority assaying for nickel and PGEs and expect assay results in the next couple of weeks."

    To date, the Company has completed four short drill holes (totaling 350 metes) along two sections spaced about 40 metres apart at the western part of the Lappvattnet deposit. LAP21-01 and LAP21-02 were drilled on Section 8E up-dip of previous drilling including hole 2007-02 which returned 3.21% Nickel over 4.97 metres (from 76.43 metres) and Gungnir re-sampling within this interval returned 50.91 g/t PGEs (39.0 g/t Platinum, 11.8 g/t Palladium, 0.11 g/t Gold) over 0.45 metres. Holes LAP21-03 and LAP21-04 were drilled 40 metres east of LAP21-01 and LAP21-02 on Section 9E. Core logging has been completed for the first three holes which have all encountered variable amounts of sulphides (mainly pyrrhotite, local chalcopyrite and possible pentlandite, a nickel sulphide mineral) hosted in both peridotite and enclosing sedimentary gneisses. Drill co-ordinates and cross sections will be provided once assays are received.

    On-going drilling is planned to continue to focus on the shallow, western part of the Lappvattnet deposit. The work plan consists of 10 or more holes, for approximately 1,200 metres, along six to seven sections spaced about 40 metres apart. Along sections, planned hole intercepts are positioned roughly 20 to 70 metres from historic intersections of massive sulphide. In addition to assaying for nickel, copper and cobalt, all mineralized sections will importantly be analyzed for PGEs which were not assayed in most of the drilling at the Lappvattnet deposit. New drilling and assays are expected to be incorporated into future resource upgrades.

    Lappvattnet is one of two nickel sulphide deposits held by Gungnir in Sweden, the other deposit named Rormyrberget. In 2020, the Company updated both resources which collectively total 177 million pounds of nickel (see Technical Report with an effective date of November 17, 2020):

    • Lappvattnet: Inferred Resource of 780,000 tonnes grading 1.35% nickel for 23.1 million lbs (10.5 million kg) of nickel.
    • Rormyrberget: Inferred Resource of 36,800,000 tonnes grading 0.19% nickel for 154 million lbs (70 million kg) of nickel.
    The technical information in this news release has been prepared and approved by Jari Paakki, P.Geo., CEO and a director of the Company. Mr. Paakki is a Qualified Person under National Instrument 43-101.

    About Gungnir Resources
    Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (TSX-V:GUG) with gold and base metal projects in northern Sweden. Gungnir's assets include the Knaften project which hosts a developing intrusion-hosted gold system, and VMS (zinc-copper) and copper-nickel targets, all of which are open for expansion and further discovery. East of Knaften, the Company holds two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, with updated nickel resources. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.

    On behalf of the Board,
    Jari Paakki, CEO and Director

    For further information contact:
    Head Office/Investor Relations
    Phone: +1-604-683-0484

    Jari Paakki, CEO
    Email: jpaakki@eastlink.ca

    Chris Robbins, CFO
    Email: robbinscr@shaw.ca

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Forward-Looking Information
    Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: the expectations that further nickel and PGE assays will be comparable to prior drill results; planned drilling activities and the expected timing thereof; expectations of future resource upgrades and that new drilling and assays will be incorporated into any resource upgrade, and Gungnir's plan for development of its properties and the timing thereof.

    Forward-looking information is based on a number of key expectations and assumptions made by Gungnir, including, without limitation: the COVID-19 pandemic impact on the Canadian and global economy and Gungnir's business, and the extent and duration of such impact; no change to laws or regulations that negatively affect Gungnir's business; there will be a demand for Gungnir's services and products in the future; Gungnir will be able to operate its business as planned; and Gungnir's plans for future exploration and development of its properties is reasonable and will be possible within the anticipated timelines. Although the forward-looking information contained in this news release is based upon what Gungnir believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

    Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: no certainty that any economically viable mineral deposit will be located on Gungnir's properties; that Gungnir may not be able to complete its planned drilling as anticipated; the impacts of the COVID-19 pandemic; ability to access capital markets; environmental matters; changes in legislation or regulations; receipt of required licenses, permits and approvals; and resource estimates may not be accurate and may differ significantly from actual mineral resources. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. The forward-looking information contained this news release is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Gungnir. The forward-looking information is stated as of the date of this news release and Gungnir assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

    SOURCE: Gungnir Resources Inc.




    Gungnir Resources Inc.



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    To: LoneClone who wrote (7774)8/19/2021 2:24:13 PM
    From: LoneClone
       of 8370
     
    Fortune Nickel and Gold Provides Updates on its Projects in Canada

    newsfilecorp.com

    Rye Brook, New York--(Newsfile Corp. - August 19, 2021) - Here To Serve Holding Corp. (OTC Pink: HTSC) is pleased to announce its wholly owned subsidiary, Fortune Nickel and Gold Inc. ("Fortune" or the "Company") has completed several geophysical, geological, and other technical reviews and soon plans to drill its Gowan and Beck-Ottaway projects located in the Timmins area of Ontario. This area lies at the heart of the Abitibi greenstone belt, which contains some of the world's largest deposits of gold, silver, copper, zinc, nickel, and platinum-group metals.

    According to Sharp Geophysical Solutions Inc., Fortune's Beck-Ottaway claims are 10 miles north of Canada Nickel's deposits in the Crawford area and have similar geophysical characteristics. A coincident regional-scale structure interpreted from the gravity, magnetic and resistivity data strikes NW-SE and includes gold, nickel, and copper showings. Two historic drill holes lie equidistant from this structure and contained anomalous gold and nickel (100 ppb and 0.1%, respectively) within ultramafic host rocks. Mineralization at Fortune's Gowan claims have a 1968 discovery drill hole that contained 27 feet of 3.5% nickel and 1.2 % copper that has similar geophysical anomalies to Class One Nickel's Alexo-Dundonald project located 10 miles to the east.

    According to Paul Riss, Fortune's President, "Sharp Geophysical Solutions has been extremely positive in their historical reviews and, along with our other consultants, identified several drill targets on both projects. As the Company believes its projects have substantial nickel, gold, and copper potential, it plans to expend at least $5 million dollars during the next two years from capital generated by the operations of its sister company, ICF Industries Inc. Strategic Advisor David Beling, P.E. is currently reviewing drill plans, budgets and other aspects of our proposed drill program to maximize results for every exploration dollar."

    During the past 57 years, Mr. Beling examined, significantly reviewed, or was directly involved with 90 underground mines, 136 open pit mines and 168 process plants around the world, mainly in the copper, gold, cobalt, nickel, and uranium sectors. Since 1981, Mr. Beling also served on the board of directors of 15 public and private USA and Canadian mining companies.

    From July 2011 to October 2020, Mr. Beling was the President & CEO of Bullfrog Gold Corp. and the General Manager of a proposed open pit and 8,000-tpd heap leach operation near Beatty, Nevada. In October 2020 he completed the purchase of all Barrick Gold's remaining lands in the Bullfrog Mining District and concurrently raised C$23 million from the Augusta Group.

    From January 2004 through December 2010, he was the Executive VP & COO of Geovic Mining Corp where he hired and directed the personnel that completed the feasibility study of a US $700 million, world-class cobalt/nickel project in Cameroon, Africa. In 2006 he spearheaded a TSX listing and delivered all the presentations in Canada, UK and US that raised C$112 million by mid-2007. Mr. Beling also performed and later directed investor relations that grew Geovic's market capitalization to US$460 million.

    HTSC's other wholly owned subsidiary, ICF Industries Inc., and its division Executive Industries are acquiring additional undervalued assets, the profits from which are intended to fund and advance the two mining projects with the subsequent goal of selling to a major producer. ICF Industries Inc. offers corporate advisory, consulting, and marketing services to both public and privately-owned companies. It helps entities with corporate strategy, negotiation, corporate structure, marketing, and executive management decisions. Shareholders should share management's enthusiasm as HTSC has amassed assets of $6,879,961 and has posted profits for 5 consecutive quarters. Revenues are expected to increase in the current quarter as a record number of clients need and seek the specialized services provided by Executive Industries.

    HTSC is a holding company that hunts for undervalued assets in the mining, real estate, and securities industries. In addition to mineral rights, holdings in public company securities and a 15% interest in Kaiyon Biotech Inc., it has two wholly owned subsidiaries. ICF Industries Inc. offers corporate advisory, consulting, and marketing services to both public and privately-owned companies. It helps entities with corporate strategy, negotiation, corporate structure, marketing, and executive management decisions. Visit our websites at newsfilecorp.com and newsfilecorp.com.

    For more information:

    Please call Investor Relations with any questions at 855-4NICKEL (855-464-2535) extension 1.

    The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-`looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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    To: LoneClone who wrote (7775)8/19/2021 2:25:23 PM
    From: LoneClone
       of 8370
     
    Magna Mining Exploration Update for the Shakespeare Ni-Cu-PGM Project, Ontario, Canada

    newsfilecorp.com

    Sudbury, Ontario--(Newsfile Corp. - August 17, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to provide the following update on exploration activities at the Shakespeare Nickel-Copper-PGM Project.

    The exploration drilling program is well advanced, with 5,203 meters drilled to date from a planned program of 9,000 meters. Numerous assay results are pending due to severe delays in assay turnaround times.

    "Although receipts of assay results are well behind our expectations, we are encouraged by our visual assessments of the drill core," said Mynyr Hoxha, Vice President of Exploration.

    The objective of the current drill program at the Shakespeare Mine is to expand near surface resources and test footwall resource expansion targets around the S-13 Zone. At the Shakespeare Mine, 3,726 metres of drilling in 14 holes (plus one deepened hole) have been completed to date (see Figure 1).



    Figure 1: Longitudinal section showing 2021 drill traces and pierce points

    To view an enhanced version of Figure 1, please visit:
    orders.newsfilecorp.com

    There have been 2,228 samples sent to the assay lab for analysis and to date only 426 received, leaving 1,802 outstanding. This includes ~900 samples which are over 40 days since submission (see Table 1). This issue has been discussed with senior management at the assay provider and attributed to a high turnover in assay lab staff. Steps have been taken to ensure better turn-around-times going forward.

    Table 1: List of outstanding samples

    Hole IDSamples
    Submitted
    Outstanding
    Samples
    MMC-21-18298298
    MMC-21-196666
    MMC-21-205858
    MSP-21-019393
    MSP-21-02144144
    MSP-21-037070
    MSP-21-04160160
    MMC-21-21304304
    MMC-21-22146146
    MMC-21-2399
    MMC-21-24126126
    MMC-21-25135135
    MMC-21-26101101
    MMC-21-279292
    Total18021802


    Borehole Electro Magnetic (BHEM) surveys conducted at Shakespeare in June will be repeated over the next two weeks. The objective of the planned BHEM survey is to further refine drill targets in the area of the previously identified large gravity anomaly in the footwall of the Shakespeare deposit (the "Birds Bane Anomaly"). The results of the BHEM survey will be used to design follow up drilling which management aims to complete in Q3.

    Regional exploration drilling has also been conducted, including 873 metres in 4 holes at the Springer Pit Copper-Gold targets, located approximately 5-kilometers south-east of the Shakespeare deposit. Samples were submitted for assaying in June and July, and results are pending (see Figure 2).



    Figure 2: Map displaying geology and hole traces from 2021 drilling on the Springer Target

    To view an enhanced version of Figure 2, please visit:
    orders.newsfilecorp.com

    At the P-4 Nickel-Copper-PGM target, one hole has been drilled and one is on-going, for a total of 604 metres. P-4 is a highly prospective target, located approximately 5-kilometers on trend with the Shakespeare geological system (see Figure 3). The samples from P-4 will be sent to a different assay lab and assay results are anticipated within 4 weeks.



    Figure 3: Map of regional magnetics showing relationship of the P-4 target and Shakespeare Mine site

    To view an enhanced version of Figure 3, please visit:
    orders.newsfilecorp.com

    3,800-metres of diamond drilling remains to be completed over the next 6-8 weeks and Magna looks forward to being able to provide both the assay results and BHEM survey results as they become available.

    Qualified Person

    The technical information in this press release has been reviewed and approved by Mynyr Hoxha, Ph.D., P.Geo., the Company's Vice President of Exploration. Dr. Hoxha is a qualified person under Canadian National Instrument 43-101.

    About Magna Mining Inc.

    Magna Mining is an exploration and development company focused on sulphide nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The Company's flagship asset is the past producing Shakespeare Mine which has major permits for the construction of a 4500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 prospective land package. Additional information about the Company is available on SEDAR ( www.sedar.com) and on the Company's website ( www.magnamining.com).

    For further information, please contact:
    Jason Jessup
    Chief Executive Officer
    or
    Paul Fowler, CFA
    Senior Vice President
    Email: info@magnamining.com

    Cautionary Statement

    This press release contains certain forward-looking information or forward-looking statements as defined in applicable securities laws. Forward-looking statements are not historical facts and are subject to several risks and uncertainties beyond the Company's control, including statements regarding plans to complete exploration programs, potential mineralization, exploration results and statements regarding beliefs, plans, expectations or intentions of the Company. Resource exploration and development is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

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    To: LoneClone who wrote (7776)8/19/2021 2:27:22 PM
    From: LoneClone
       of 8370
     
    Aston Minerals targeting nickel-PGE-cobalt mineralisation at Edleston in Canada

    Multiple batches of assay results are awaited from the company’s active diamond drilling campaign.

    proactiveinvestors.com.au



    Magnetic Inversion Model - plan view of Boomerang target.


    Aston Minerals Ltd ( ASX:ASO, FRA:28W0) has exploration underway across its Edleston Project in Ontario, Canada, targeting nickel-platinum group elements (PGE)-cobalt sulphide mineralisation.

    The company is testing the potential for sulphide mineralisation at Edleston where previous exploration by Canex Aerial Exploration and Falconbridge Ltd was conducted in the early 1970s and early 1990s respectively.

    Promisingly, Aston’s Boomerang nickel-PGE-cobalt target style is analogous to Waterton Global Resource Management Inc’s Dumont Nickel-PGE-Cobalt Deposit and Canadian Nickel Company’s Crawford Nickel-PGE-Cobalt Deposit.

    “Level of similarities”

    Aston managing director Dale Ginn said: “The Boomerang target has a significant level of similarities to that of the substantial Durmont and Crawford nickel-PGE-cobalt deposits.

    “With a strike length of 5 kilometres, proximity to Glencore’s Sothman Nickel-PGE Deposit located 1 kilometre south of the tenure and within the same stratigraphy, we believe that this compelling target warrants immediate drill testing.

    “We are in the process of clearing pads to allow for drilling within a week.

    “Further, in an effort to expedite the return of assay results from the company’s ongoing drill program at Edleston, two additional certified laboratories have been contracted and multiple batches of samples have been delivered to these laboratories.”

    Extensive serpentinisation

    Aston’s Boomerang target is interpreted to be a Dunite/Peridotite unit that has undergone extensive serpentinisation.

    This dunite/peridotite body extends over an area of 5 kilometres, is 500 metres to greater than 1,500 metres wide and extends to depths of well over 500 metres.

    Extensive mineralisation nickel-PGE-cobalt-copper mineralisation delineated 1 kilometre to the southeast of the project area by Falconbridge.

    Based on the interpretation from magnetics, it appears that Glencore PLC ( LSE:GLEN)’s Sothman Nickel-PGE-Cobalt-Copper Deposit is hosted within the same stratigraphic sequence of the Boomerang nickel-PGE-cobalt target.

    Forward plan

    Aston is awaiting multiple batches of assay results from its ongoing diamond drilling campaign at Edleston.

    In addition, the company has contracted two additional laboratories to expedite the return of the drill results.

    Furthermore, drill testing of the targets is required to validate the exploration model proposed is set to begin in a week.

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    To: LoneClone who wrote (7777)8/19/2021 2:31:55 PM
    From: LoneClone
       of 8370
     
    Aldoro Resources hits massive sulphides in third and fourth drill holes at Narndee Igneous Complex VC1 target

    The gold and nickel-focused explorer has encountered massive sulphides in all four holes at the VC1 target, which forms part of the broader Narndee Igneous Complex near Mount Magnet in Western Australia.

    proactiveinvestors.com.au



    The massive sulphide intersected by hole NDD0003 from 111.6 metres to 113.5 metres downhole.


    Aldoro Resources Ltd ( ASX:ARN) has intersected massive nickel-copper sulphides within the third and fourth drill holes at the VC1 target within the Narndee Igneous Complex.

    The latest results mean all four holes drilled to date at the high-priority target have intersected massive sulphides, with the third and fourth holes hitting around 1.9 metres and 0.9 metres of massive sulphides, respectively.

    In addition, the ASX-lister has confirmed that sulphide mineralisation remains open in all directions beyond the 240-metre zone of drill-tested plunge extent, with analysis confirming that nickel and copper exists within the sulphides.

    Paired with the new downhole electromagnetic datasets, Aldoro believes the latest drill results will help inform future drilling campaigns at the VC1 target.

    Drill targeting at VC1

    Aldoro’s diamond drilling program at the VC1 target forms part of a broader nickel exploration campaign that will take place across the Nardnee complex.

    The first hole in the program was designed to test the central, strongest component of the VC1 electromagnetic conductor, but it was the second drill hole that really shined.

    In fact, hole NDD0002 intersected significantly thicker and stronger zones of massive, semi-massive, blebby, and veined nickel-copper sulphides than its predecessor, even though it was designed to test a shallower, up-plunge position of the conductor 85 metres to the south-southwest.

    The third diamond drill hole was created as an extension of NDD0002’s purpose, situated a further 80 metres to the south-southwest.

    Promisingly, this hole returned a massive sulphide intersection between 111.6 metres and 113.5 metres.

    Meanwhile, hole NDD0004 moved 80 metres to the north of the original hole, focused on a deeper, down-plunge conductor position.

    This hole encountered massive sulphide mineralisation between 272.1 metres and 273 metres.



    Ultimately, both the third and fourth holes intersected zones of massive, semi-massive, blebby and veined nickel-copper sulphides.

    Overall, the VC1 target starts at the base of oxidation, approximately 115 metres south-southeast of NDD0003 and 45 metres vertically below surface.

    The mineralised body’s strike length continues for as much as 100 metres and bears a 550-metre plunge extent.

    Looking ahead

    As it continues to explore at the Narndee complex, follow-up drilling will be predominantly guided by downhole transient electromagnetic (DHTEM) surveying.

    The DHTEM survey crew is currently on-site to survey the holes completed by Aldoro, with the addition of a Maximus hole MNRC0002, which was found and probed to 240 metres last week.

    DHTEM will be conducted on all holes completed at VC1 to aid and refine drill targeting.

    There are now five holes slated for DHTEM survey; the results of which should significantly refine the models for follow-up drill targeting.

    The drill rig will now move to the VC3 target to drill a single hole there, while DHTEM surveying and refined modelling will be completed at VC1.

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