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   Gold/Mining/EnergyRare Earth Elements and Exotic Metals


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To: LoneClone who wrote (18156)4/8/2021 5:28:59 PM
From: LoneClone
   of 19333
 
Cornish Metals: Drill Programme Underway at United Downs Copper-Tin Project

ca.finance.yahoo.com

Cornish Metals Inc
Thu., April 8, 2021, 12:00 a.m.·5 min read

VANCOUVER, British Columbia, April 08, 2021 (GLOBE NEWSWIRE) -- (“Cornish Metals” or the “Company”), is pleased to report that it has commenced diamond drilling at its United Downs copper-tin project in Cornwall UK. As stated previously, the objective of the drilling programme is to follow-up the high-grade copper-tin mineralisation in drill hole GWDD-002 that intersected 14.69 metres (“m”) at 8.45% copper (“Cu”) and 1.19% tin (“Sn”) (see news release dated April 6, 2020).

Richard Williams, CEO of Cornish Metals, stated, “We are all very excited to start this drill programme, following on from our successful AIM listing. The first phase of the programme will focus on tracing the high-grade copper-tin structure along strike to determine its full extent.”

ABOUT CORNISH METALS

Cornish Metals completed the acquisition of the South Crofty tin and United Downs copper / tin projects, plus additional mineral rights located in Cornwall, UK, in July 2016 (see Company news release dated July 12, 2016). The additional mineral rights cover an area of approximately 15,000 hectares and are distributed throughout Cornwall. Some of these mineral rights cover old mines that were historically worked for copper, tin, zinc, and tungsten.

The United Downs copper-tin project is located in the historic Gwennap mining district, which was an area of high grade copper mining in the 1700s and 1800s (United and Consolidated Mines). More recently, the Wheal Jane mine (immediately east of the United Downs project) and Mount Wellington mine (within the United Downs project area) were in production up until 1991 and 1978, respectively. All of the mines in the vicinity were underground operations, extending up to approximately 500m below surface. Mineralisation remains open to depth beneath these mines, as evidenced by drilling results from GWDD-002 in 2020, which intersected 4.04m grading 4.4% Cu and 2.06% Sn at a downhole depth of 638.85m – 642.89m beneath the United Mine (see news release dated November 18, 2020).

The South Crofty project covers the former producing South Crofty tin mine located beneath the towns of Pool and Camborne, Cornwall. South Crofty mine closed in 1998 following over 400 years of continuous production. Since acquiring the project in 2016, Cornish Metals has completed and published maiden NI 43-101 mineral resources for South Crofty using the vast archive of historical production data and more recent drilling completed between 2007 and 2013. In 2017, Cornish Metals completed a Preliminary Economic Assessment that demonstrated the economic viability of re-opening the mine. Additionally, Cornish Metals has undertaken extensive pilot-scale water treatment trials and successfully applied for and received the necessary environmental permits to abstract, treat and discharge mine water in order to dewater the mine. Planning permissions for the operation of the mine and re-development of the surface facilities have been secured and construction of the water treatment plant foundations commenced. The dewatering pumps, variable speed drives and new high-voltage power supply have been delivered to site.

TECHNICAL INFORMATION

The technical information in this news release has been compiled by Mr. Owen Mihalop. Mr. Mihalop has reviewed and takes responsibility for the data and geological interpretation. Mr. Owen Mihalop (MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng) is Chief Operating Officer for Cornish Metals Inc. and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code (2012) and as a Qualified Person under NI 43-101. Mr. Mihalop consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

ON BEHALF OF THE BOARD OF DIRECTORS

“Richard D. Williams”
Richard D. Williams, P.Geo

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.

Caution regarding forward looking statements

This news release contains “forward-looking statements”. Forward-looking statements, while based on management’s best estimates and assumptions at the time such statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the COVID-19 global pandemic and any variants of COVID-19 which may arise; risks related to the availability of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations.

Although Cornish Metals has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cornish Metals undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

  • The drilling programme has been contracted to Priority Drilling Ltd., under the supervision of Cornish Metals’ geological team; and

  • The drill programme will be run with full COVID safe guidelines, policies and procedures in place.


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    To: LoneClone who wrote (18157)4/8/2021 5:38:31 PM
    From: LoneClone
       of 19333
     
    Piedmont Increases Lithium Resources By 40%

    ca.finance.yahoo.com

    Thu., April 8, 2021, 3:00 a.m.·2 min read

  • Piedmont Lithium Project’s Global Mineral Resources increased to 39.2 Mt @ 1.09% Li2O

  • Exploration and infill drilling continues with five rigs operating on the Core property

  • The updated resource base will underpin the Scoping Study update targeted for May 2021

  • A further resource update will precede the DFS scheduled for September 2021 release

  • Piedmont Lithium Limited ("Piedmont" or the "Company") (Nasdaq:PLL; ASX:PLL) is pleased to announce an updated Global Mineral Resource estimate ("MRE") (Table 1) for the Company’s flagship Piedmont Lithium Project in North Carolina, USA which includes updated Mineral Resource estimates from the Core and Central properties and an initial Mineral Resource estimate from the Huffstetler property (Table 2). The total MRE for the project is 39.2 Mt at 1.09% Li2O (Figure 1), with 55% of the MRE currently classified in the Indicated category. The Mineral Resource estimate is reported in accordance with JORC Code (2012 Edition).

    Table 1: Piedmont Lithium Global Mineral Resources Estimate (MRE)

    Resource Category

    Tonnes
    (Mt)

    Grade
    (Li2O%)

    Li2O
    (t)

    LCE
    (t)

    Indicated

    21.6

    1.12

    241,000

    597,000

    Inferred

    17.6

    1.03

    181,000

    449,000

    Total

    39.2

    1.09

    422,000

    1,046,000


    Keith D. Phillips, President and Chief Executive Officer, commented: "Increasing the scale of our North Carolina mineral resource to 39.2 Mt at 1.09% Li2O establishes our asset as one of the largest spodumene resources in North America – and the only one in the United States. The expanded resource offers the potential for increased annual lithium production, something we will evaluate as we prepare our updated Scoping Study for release next month. All this is coming together at an ideal time, as the public and private sectors dramatically increase their investment in the electrification of America. Given the scope and strategic location of our Piedmont Lithium Project, we believe we are ideally positioned to play a critical role in helping the United States build a clean energy economy and a U.S. based EV supply chain."

    To view the complete ASX Release, click here.

    View source version on businesswire.com: businesswire.com

    Contacts

    Keith D. Phillips
    President & CEO
    T: +1 973 809 0505
    E: kphillips@piedmontlithium.com

    Brian Risinger
    Vice President – Corporate Communications
    T: +1 704 910 9688
    E: brisinger@piedmontlithium.com

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    To: LoneClone who wrote (18158)4/8/2021 5:45:37 PM
    From: LoneClone
       of 19333
     
    Nickel Rock Completes Phase One Lithium Drilling at Clayton Valley, Nevada

    ca.finance.yahoo.com

    Thu., April 8, 2021, 5:00 a.m.·6 min read

    VANCOUVER, BC, April 8, 2021 /CNW/ -- Nickel Rock Resources Inc. ("the Company") (TSXV: NICL) (OTCQB: NIKLF) is pleased to announce the conclusion of an initial exploratory drilling test on their Clayton Valley Project, Esmeralda County, Nevada, USA. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins a western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Cyprus Development Corp.'s (TSXV: CYP) 5,430-acre Clayton Valley Lithium Clay Project.



    Clayton Valley Lithium Project
    The program consisted of three reverse circulation holes totaling 356 meters (1155 feet). The holes were intended to test the presence of lithium bearing clay members of the lakebed sediments. Drillhole RCV-01, drilled to a depth of 130m (425 feet), was designed to twin a geothermal gradient hole drilled by a previous explorer. Results of this hole correlated with the log of the previous hole including intervals of volcanic ash and dark green clay. Hole RCV-02, located approximately 1260 meters north of RCV-01 was drilled to a depth of 135.6m (445 ft) and penetrated a section consisting primarily of rhyolitic volcanic ash and interbedded sediments. It penetrated a 4.5-meter section of dark green clay before entering the metamorphic alluvium. Poor drilling conditions and high-water flows ended the hole before reaching the target depth but after successfully evaluating the lake sediment section. Hole RCV-03, located 3,890m (12,762 ft) north from Hole RCV-01, was designed to look for a perched section of volcanoclastic sediments beneath an alluvial fan. Previous water well logs indicated a layer of clay, ash, and silt beneath the alluvium and above the bedrock. Apparently, this hole was located too close to the pediment and encountered metamorphosed dolomite at a depth of 56 meters (185 feet) and about the projected elevation of the sedimentary section. The hole lost circulation in an apparent karst horizon at 68.5 meters (225 feet) and was terminated at 79.2 meters (260 ft) without regaining sample return.

    The samples collected from holes RCV-01 and RCV-02 have been shipped for sample preparation and analysis in Sparks, Nevada. Several water samples collected during the drilling program will soon be shipped and analyzed for lithium brine.

    Potential lithium bearing clays, within lake sediments and ash beds, were previously reported in rough drillers logs of historic geothermal exploration wells on file with the Nevada State Engineers office (permit #66034A). Well, GPXM2 (1994) reported "green to olive green siltstone, mudstone and clay" over a thickness of 510 ft (155.4m) from 130 ft (39.6m) to 640 ft (195m). In January of 2006, Western Geothermal partners drilled hole WGP#2 to a depth of 405 feet (123m) in the Goat Island graben. According to their reports, this hole cut interbedded zones of gravel, silt, and hot spring apron material. More importantly, "from 280ft (85.3m) to 305 ft (93m) fine grained green sand and silt logged as volcanic ash was encountered. This unit may be correlative to the Main Ash Aquifer, which is a marker bed in other areas of the Clayton Valley Basin."

    Mr. Robert Setter, Company President and CEO comments "Lithium clay exploration is booming again in Clayton Valley. The recently completed reverse circulation drilling program allowed our geological team to identify various clay and ash in each drill hole completed. Now that the current exploration program is done, groundwork for a more significant exploration program will soon get under way. We are excited about this opportunity in Nevada, the reverse circulation drilling program has been helpful in identifying important geological information on the sedimentary layers which will be used assist the geos in planning future exploration on our strategically located project located next to Albemarle Inc. and near Cypress Minerals in Clayton Valley."

    Mr. Alan Morris, Geological Consultant and Project QP, further comments "The clay layers encountered in the 1994 geothermal well are beneath gravel and alluvial cover and do not form obvious outcrops. This current drilling program has helped to define the clay layers, as well as, the determination of concealed faults which the Company believes to be important in the formation of lithium-bearing clays."

    About Clayton Valley Lithium Project

    Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley. nickelrockresources.com

    Qualified person

    Alan Morris is a qualified person as defined by National Instrument 43-101 and has approved the technical information contained within this news release.

    About Nickel Rock Resources Inc.

    Nickel Rock Resources is a Canadian-based mineral exploration company with a highly focused effort on exploration for high-value battery metals required for the electric vehicle (EV) market. The company recently announced several acquisitions resulting in a significant property package prospective for awaruite, a naturally occurring nickel-iron alloy important in the manufacture of environmentally efficient batteries for the electric vehicle markets globally.

    Nickel Projects

    The Mount Sidney Williams Group consists of five claim blocks in four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite.

    The Mitchell Range Group area claim consist of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel-cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The company is planning detailed exploration for the upcoming exploration season.

    On Behalf of the Board of Directors
    "Robert Setter"
    Robert Setter, President & CEO

    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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

    Photo - mma.prnewswire.com

    Nickel Rock Resources Inc.
    1220 – 789 West Pender Street

    Vancouver, BC, Canada V6C 1H2

    604- 428-5690

    www.nickelrockresources.com

    info@nickelrockresources.com




    Cision

    View original content to download multimedia:http://www.prnewswire.com/news-releases/nickel-rock-completes-phase-one-drilling-at-clayton-valley-nevada-301265046.html

    SOURCE Nickel Rock Resources Inc.


    Cision
    View original content to download multimedia: newswire.ca

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    To: LoneClone who wrote (18159)4/8/2021 5:48:18 PM
    From: LoneClone
       of 19333
     
    Lithium South: Bulk Brine Sample for Direct Lithium Extraction Test Work

    ca.finance.yahoo.com

    Thu., April 8, 2021, 5:00 a.m.·3 min read

    VANCOUVER, BC, April 8, 2021 /CNW/ -- Lithium South Development Corporation (the "Company") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to report the initiation of a bulk brine sample program at the Hombre Muerto North Lithium Project (HMN Li Project), located in Salta Province, Argentina. The sample program will be completed under the supervision of William Feyerabend, a Consulting Geologist and Qualified Person to the Company. A 6,000-liter sample will be obtained for shipment to China, and North America for Direct Lithium Extraction test work.

    The project has two pumping wells currently installed on the Tramo Claim, which contains a NI 43-101 lithium carbonate equivalent resource as defined in a Preliminary Economic Assessment filed August 2019, and available at the Company website. The brine will be accessed through well number one, and after a 12-hour pump out, the sample will be taken. A 2,000-liter bulk brine sample will be received in Chengdu China, by Chemphys for further testing of their XFP DLE process. The remainder of the sample will be used for test work in Salta, Argentina and North America, further details to be provided.

    The HMN Li Project is located on the Hombre Muerto Salar, the premier lithium-producing salar in Argentina. The property is adjacent to land under development by the Korean multinational corporation POSCO, which acquired the ground from Galaxy Resources Ltd. For U.S. $ 280 million. The Company completed a Preliminary Economic Assessment of the HMN Li Project in 2019, utilizing conventional evaporation extraction. The Company is focused on evaluating alternative extraction methods for the HMN Li Project and plans to become a leader in the application of Direct Lithium Extraction technology at the project level.

    Mr. William Feyerabend, Consulting Geologist and a Qualified Person under NI 43-101, approves of the scientific content of this press release.

    Investors / Shareholders:

    Email: info@lithiumsouth.com
    Toll Free: 855-415-8100
    Website: www.lithiumsouth.com

    Neither the 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. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.

    The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

    This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

    On behalf of the board of directors of Lithium South Development Corporation

    Adrian F. C. Hobkirk
    President and Chief Executive Officer
    Direct line: 954-684-8040


    Cision

    View original content:http://www.prnewswire.com/news-releases/bulk-brine-sample-for-direct-lithium-extraction-test-work-301265019.html

    SOURCE Lithium South Development Corporation


    Cision
    View original content: newswire.ca

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    To: LoneClone who wrote (18160)4/8/2021 5:49:49 PM
    From: LoneClone
       of 19333
     
    Noram Completes Drone Survey of the Zeus Lithium Project Area & Corporate Update

    accesswire.com

    Wednesday, April 7, 2021 1:55 AM

    VANCOUVER, BC / ACCESSWIRE / April 7, 2021 / Noram Ventures Inc. ("Noram" or the "Company") (TSXV:NRM)(Frankfurt:N7R)(OTCQB:NRVTF) is pleased to announce that the Company has completed a drone survey of the Zeus Project area. The survey was conducted by Strix Imaging: Aerial Mapping and Imaging Services. Strix Imaging is a Douglas County, Nevada based aerial imaging and mapping company. Strix uses fixed-wing drones to provide high accuracy topographic maps, orthophotos, full planimetrics, volumetrics and change detection to industry. By utilizing unmanned aerial mapping technology, Strix is often able to significantly discount its aerial mapping deliverables for its customers, as compared to traditional methods of manned aerial mapping. Strix relies on larger fixed-wing systems for drone mapping because they can cover a much broader area much more efficiently than quadcopters.







    "The drone survey has provided Noram Ventures with both detailed aerial photography and detailed topographic coverage of the Zeus property. The survey will allow a much more accurate top surface for the calculation of future resource estimates and for the upcoming Preliminary Economic Assessment. The survey results appear to be of excellent quality and have already proved useful for project planning," commented Brad Peek, CPG and Qualified Person for all 5 phases of drilling conducted on the Zeus Project by Noram.

    Corporate Update

    The Company would also like to update shareholders that Noram is in receipt of a claim filed by former officer and director, Mark Ireton ("Ireton") sole officer and director of Ireton Consulting Inc., both of which are parties to the claim. Ireton makes various claims for financial compensation and damages. These claims are without merit and Noram has filed a response accordingly. The Company will not accept false statements and will proceed with this litigation as aggressively and expeditiously as possible.

    About Noram Ventures Inc.

    Noram Ventures Inc. (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is a Canadian based junior exploration company, with a goal of developing lithium deposits and becoming a low - cost supplier. The Company's primary business is the Zeus Lithium Project ("Zeus") in Clayton Valley, Nevada. The Zeus Project has a current resource estimate of 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resources (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent - "LCE".

    Noram's long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of Europe, North America and Asia.

    Please visit our web site for further information: www.noramventures.com

    ON BEHALF OF THE BOARD OF DIRECTORS

    /s/ "Anita Algie"

    Director and CFO
    Office: (604) 553-2279

    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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws

    SOURCE: Noram Ventures Inc.

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    To: LoneClone who wrote (18161)4/8/2021 5:51:49 PM
    From: LoneClone
       of 19333
     
    [Graphite] Lomiko La Loutre Metallurgical Testing Produces Concentrate Grading 97.8% Carbon and 93.5% Graphite Recovery

    ca.finance.yahoo.com

    Wed., April 7, 2021, 4:55 a.m.·7 min read

    Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the "Company") is pleased to provide an update on its La Loutre graphite project ("La Loutre"), located in Quebec, Canada. La Loutre comprises the Graphene-Battery (GB) zone and the Electric Vehicle (EV) Zone. The names of the zones are not reflective of the products each will produce but generally indicate applications of products. The recent testwork program confirmed that each zone will produce similar products.

    This press release features multimedia. View the full release here: businesswire.com



    Quebec Crystalline Flake Graphite (Photo: Business Wire)

    Highlights

  • A metallurgical flowsheet development program was carried out on two composite samples of La Loutre graphite project. One composite was generated from mineralized samples from the EV zone yielding 9.70% graphitic carbon, and the second composite from drill core of the GB zone yielding 4.80% graphitic carbon.

  • The process development was carried out on both composites and resulted in a flowsheet and conditions that are suitable to treat both zones of La Loutre mineralization in the same processing plant.

  • The program culminated in a locked cycle test ("LCT") that generated a combined concentrate grading 97.8% total carbon at 93.5% graphite recovery.

  • Although the two mineralized zones produced noticeably different flake size distributions, they responded equally well to the same flowsheet and conditions with combined concentrate grades of over 97% total carbon.

  • "These very encouraging results of initial testing suggest that La Loutre graphite may be suitable for high-end industrial use," stated A. Paul Gill, CEO. "Our next step is to complete a Preliminary Economic Assessment."

    Technical Discussion

    Process Development

    In January 2021, a metallurgical process development program was initiated at SGS Minerals in Lakefield, Ontario. The objective of the program was to develop the flowsheet and conditions suitable to upgrade La Loutre mineralization to at least 95% total carbon.

    Metallurgical development work was carried out on two composites representing the two zones. The process development program produced a flowsheet and conditions that generated concentrates of over 97% total carbon for both mineralized zones. The equipment and reagents selected for the process are well established in the mineral processing field and are consistent with other graphite projects. The flowsheet, which is depicted in Figure 1, comprises rougher/scavenger flotation stage, followed by a primary and secondary cleaning circuit.

    The GB composite produced a final concentrate with a significantly higher mass recovery into the +80 mesh size fraction of approximately 50% compared to 25-30% for the EV composite. However, both composites responded equally well to the same flowsheet and conditions, producing combined concentrate grades that are consistently at least 97% C(t).

    The program culminated in a locked cycle test (LCT) using a 50:50 blend of the two mineralized zones. The overall mass balance is presented in Table 1. The mill feed grading 7.60% carbon was upgraded to a combined concentrate grading 98.5% carbon at an overall graphite recovery of 93.5%.

    Table 1: Mass Balance of Locked Cycle Test LCT-1

    Sample ID


    Weight

    Assays (%)

    % Distribution


    %

    C(t)

    C(t)

    Combined Concentrate



    7.2

    98.5

    93.5

    +80 Mesh 2nd Clnr Conc



    2.9

    99.0

    37.1

    +80 mesh 1st Clnr Tails



    0.1

    34.9

    0.3

    -80 mesh 3rd Clnr Conc



    4.4

    98.1

    56.4

    -80 mesh 1st Clnr Conc



    0.4

    9.64

    0.5

    1st Clnr Tails

    22.3

    1.26

    3.7

    Scav Tails

    69.9

    0.21

    1.9

    Head (calc)

    100.0

    7.63

    100.0


    The final concentrates of the three cycles that were used to develop the overall mass balance were submitted for a size fraction analysis (SFA), and the average results of the three SFAs are presented in Table 2. The combined concentrate grade of 97.8% total carbon is slightly lower compared to the direct concentrate analysis of the LCT mass balance, which is related to measurement uncertainties associated with assay methods.

    A total of 32.4% of the concentrate mass reported to the +80 mesh size fractions at a combined grade of 97.8% total carbon. Another 10.8% of the mass was recovered into the -80/+100 mesh product at a grade of 98.2% and the balance of 56.8% reported to the -100 mesh size fractions at a combined grade 97.7% total carbon.

    One of the primary applications for the -100 mesh size fraction is the value-add process to produce spherical graphite for batteries. The ability to upgrade the fines size fraction to almost 98% total carbon by flotation only might have a positive impact on downstream purification costs since concentrations of impurities are often proportional to purification cost.

    Table 2: Average Size Fraction Analysis Results of LCT-1

    Size

    Mass

    Grade

    Distribution

    Mesh

    Microns

    %

    %Ct

    %Ct






    32

    500

    1.0

    97.6

    1.0

    48

    300

    9.8

    97.4

    9.7

    80

    180

    21.6

    98.0

    21.7

    100

    150

    10.8

    98.2

    10.9

    150

    106

    17.5

    98.1

    17.5

    200

    75

    13.0

    98.3

    13.1

    325

    45

    13.5

    98.1

    13.6

    Pan

    -45

    12.8

    96.0

    12.5






    Total


    100.0

    97.8

    100.0


    Preliminary comminution tests produced Bond ball mill work indices of 6.9 kWh/t for the EV zone and 11.2 kWh/t for the GB zone, which places La Loutre mineralization into the very soft to soft category, which is favourable for minimizing grinding energy costs.

    Next Steps

    Variability flotation testing on four composites that made up the two development composites will be performed to complete the scoping level metallurgical study.

    The combined concentrate of the LCT will be subjected to chemical and mineralogical characterization, which will determine the type and association of the remaining impurities in the graphite concentrate. This information will be used to commence marketing initiatives for La Loutre graphite concentrate.

    The current process development program will be completed within the next couple of weeks, and the company commenced work on a preliminary economic assessment (PEA) study.

    During the next phase of metallurgical testing, conditions of the existing flowsheet will be optimized to minimize flake degradation and maximize graphite recovery. Further, the optimization will evaluate potential capital and operating cost savings.

    The robustness of the optimized flowsheet and conditions will be verified with a larger number of variability samples, and a more comprehensive comminution program will be completed.

    Qualified Persons

    Mr. Oliver Peters, a Principal Metallurgist with Metpro Management Inc., is a Qualified Person within the meaning of NI 43-101. Mr. Peters is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.

    Quebec’s Role in The New Green Economy

    In 2020, The Quebec Government released the Quebec Plan for Development of Critical and Strategic Minerals ("The Quebec Plan") which indicates graphite demand would likely increase 300-500% in the coming decades as more is used in the production of spherical graphite for anode portion of Electric Vehicle Lithium-ion batteries. Quebec has an opportunity to play a vital role in reducing carbon emissions and become a key provider of critical battery materials to the North American economy.

    For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.

    On Behalf of the Board,

    "A. Paul Gill"
    Chief Executive Officer

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

    View source version on businesswire.com: businesswire.com

    Contacts

    A. Paul Gill
    604-729-5312
    info@lomiko.com

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    To: LoneClone who wrote (18162)4/9/2021 3:25:40 PM
    From: LoneClone
       of 19333
     
    Sayona Mining (ASX:SYA) Advances Lithium Exploration Activity in Canada & Australia

    abnnewswire.net

    Brisbane, April 6, 2021 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited ( ASX:SYA) ( FRA:DML) ( OTCMKTS:DMNXF) has strengthened its project pipeline, with the Company acquiring further prospective lithium acreage at its Tansim Lithium Project in Quebec, Canada in addition to undertaking an airborne magnetic survey over gold targets in Western Australia.

    Highlights

    - 27% increase in size of Sayona's Tansim Lithium Project in Quebec, Canada following acquisition of 75 additional claims, taking total project area to 20,256 ha of prospective lithium acreage

    - In Western Australia, 3,900 line km airborne magnetic survey completed to advance gold drill targets at Deep Well and Mt Dove projects

    - Increased exploration activity follows strong outlook for both lithium and gold, as Sayona invests in upgrading its Canadian lithium resource base and increasing the value of its West Australian gold and lithium projects.

    In Quebec, Sayona has acquired an additional 75 claims at its emerging Tansim Lithium Project, which is located just 82 kilometres south-west of the Company's flagship Authier Lithium Project. Tansim now encompasses 350 claims spanning 20,256 ha, a 27% increase in prospective lithium acreage following additions earlier in March (refer ASX release 11 March 2021).

    The recently completed Canadian NI 43-101 report (refer ASX release 18 March 2021) determined high exploration potential for lithium pegmatites across the project, with resource drilling planned at Tansim's Viau-Dallaire and Viau prospects.

    In Western Australia, drill targeting at the Deep well and Mt Dove projects has advanced with the commissioning and completion of geophysical surveying, targeting anomalies typical of the nearby Hemi gold discovery of De Grey Mining.

    The moves follow a strong outlook for lithium in North America amid the electric vehicle (EV) and battery storage revolution, with Sayona's Pilbara gold assets adding further potential upside to the Company's international asset base.
    Sayona's Managing Director, Brett Lynch commented: "The additional Tansim claims will further enhance the critical mass of the Tansim project and strengthen Sayona's push to become a world-scale spodumene producer based on our Abitibi lithium hub, with the potential for downstream processing. With investor confidence growing in the future of the North American EV and battery sector, these are quickly becoming highly valuable and strategic assets.

    "We are also keen to advance exploration across our Western Australian portfolio, given favourable gold prices and the success shown by nearby explorers. These gold projects add to the potential of our lithium portfolio in the world-class Pilgangoora lithium district."

    The new Tansim claims (see Figure 1 below*) are situated on the northern and south-east flank of the project. They secure prospective areas marginal to the Reservior Decelles Batholith, a suite of monzogranite intrusions typical of the parent magma associated with spodumene bearing pegmatite systems at a worldwide scale.

    The new claims also cover a similar stratigraphy to the Viau and Viau-Dallaire prospects. It is anticipated new tracks traversing the area will allow rapid and efficient exploration for spodumene pegmatites over the new area.

    A 26 diamond drill drilling program for 4,200m is planned for Tansim, with some 3,400m at the Viau-Dallaire prospect and approximately 800m at the Viau prospect. An Exploration Target (refer note below) for the Viau-Dallaire prospect has been estimated at between 5 million tonnes and 25 million tonnes, at an estimated grade of 1.2-1.3% Li2O (refer ASX release 19 November 2019).

    Note: The potential quantity and grade of the Exploration Target is conceptual in nature and is therefore an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in an estimation of a Mineral Resource.

    The planned drilling aims to expand the lithium mineralisation at Viau-Dallaire and provide material for mineralogical study and metallurgical testwork to support a Mineral Resource estimate.

    West Australian exploration

    Sayona's Pilbara project includes gold rights to nine tenements covering 824 sq km. These are considered prospective for intrusion-related gold mineralisation, similar to that of De Grey Mining's nearby Hemi discovery. This style of mineralisation is hosted within altered late stage hi-Mg diorites of the Indee Suite.

    Sayona's tenement portfolio remains effectively untested for its gold potential with large areas masked by surficial cover. Interpretation of magnetic data, carried out to identify discrete, high intensity features typical of that displayed by the Hemi discovery, has identified a number of features at the Mt Dove, Deep Well, West Wodgina and Tabba Tabba East projects.

    Sayona has commissioned Magspec Airborne Surveys to complete a high resolution 3,900 line km airborne magnetic survey, with flight lines at 50m spacing. This survey, completed on 4 April 2021, covered the entire area of the Deep Well project and part of the Mt Dove project, where high resolution data is not available. These tenements are in close proximity to De Grey Mining's Mallina gold project which includes Hemi (see Figure 2 below*).

    At Deep Well, interpretation of publicly available broad spaced magnetics data has identified 18 magnetic features. These are located over sand covered sediments of the Mallina Basin and late-stage intrusions of the Portree Suite.

    Past exploration carried out by diamond explorers has investigated three of the magnetic features, recognising their discreet nature and intensity as potential kimberlite intrusions. Limited drill testing failed to identify the source of the magnetic features but identified pyritic Mallina sediments and granite in bedrock. No drill cuttings were sampled for gold and the source of the magnetic anomaly is unresolved.

    It is anticipated Sayona's high resolution survey will help effective planning and drill testing of the current anomalies, as well as potentially identifying further targets.

    Geochemical Orientation

    A total of 96 orientation soil samples have been collected over three magnetic features at the Deep Well and Mt Dove projects. Analysis by LabWest using the CSIRO /MRIWA ultrafine technique has been completed, with results ranging from below the lower detection limit (0.5ppb Au) and 5.6ppb Au.
    The subdued sample results are typical of geochemical results over the transported, largely sand blown sand which covers much of the tenement areas. Further orientation sampling is planned after the northern wet season to advance the use of geochemistry as a low-cost method of prioritising magnetic targets for drill testing.

    Next Steps

    The final data from the airborne magnetic survey is anticipated to be delivered in early April. Analysis of this information will help refine drill targeting of the known anomalies and identify further features of interest. Heritage surveying and statutory requirements to allow drilling to take place can then be advanced.

    The results will also help frame plans for additional geophysical surveying over the remainder of the Pilbara gold projects, including the Tabba Tabba area in the east, so that combined with geological mapping and sampling, work to allow drill testing can proceed in these areas during the 2021 season.

    *To view tables and figures, please visit:
    abnnewswire.net

    About Sayona Mining Ltd

    Sayona Mining Limited ( ASX:SYA) ( OTCMKTS:DMNXF) is an Australian, ASX-listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. The Company has lithium projects in Quebec, Canada and in Western Australia.

    Please visit us as at www.sayonamining.com.au





    Contact

    Brett Lynch
    Managing Director
    Phone: +61 (7) 3369 7058
    Email: info@sayonamining.com.au

    Link: Sayona Advances Exploration Activity in Canada & Australia

    Related Companies

    Sayona Mining Ltd

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    To: LoneClone who wrote (18163)4/9/2021 4:07:24 PM
    From: LoneClone
       of 19333
     
    Advance Gold Begins Drilling the Saldivar Lithium Salar in San Luis Potosi, Mexico

    newsfilecorp.com

    Kamloops, British Columbia--(Newsfile Corp. - April 7, 2021) - Advance Gold Corp. (TSXV: AAX) ("Advance Gold" or "the Company") is pleased to announce that it has commenced a drilling program at its recently acquired Saldivar lithium salar in San Luis Potosi, Mexico. This program will test the near surface lithium grade distribution of the salar in preparation for bulk sampling.

    The goal of bulk sampling, expected to start within the next couple months, is to run material through the pilot plant to test the economics of using small sized fraction mineral separation, magnetic separation and leaching to efficiently and cost effectively recover lithium. In the recently announced purchase agreement, see news release dated March 2, 2021, the Company is acquiring a pilot plant designed and built under the guidance of Dr. Roberto Perez Garibay, an expert in mineral recovery, and a patented extraction method.

    The drilling program will be done on a grid basis using a 100m line spacing. It is expected that the holes will be drilled down to 50m. Additionally, one hole will go deeper to test the depth to bedrock which at the moment is wide open and has never been tested. Historical work at the Saldivar salar has been confined to the first 5m from surface.

    Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: "We are looking at a two-pronged approach to meet our goals. The first is the near surface drilling to get a better understanding of the grade distribution at surface. This will help us to plan our bulk sampling program to get a handle on the economics of using small sized fraction mineral separation as the lithium is found in the small size fractions and non-magnetic material which makes up around 20% of the material in the salars. Using those separation methods will give us a high-grade concentrate, Dr. Perez Garibay has previously done lab testing on our material to show that after using small sized fraction mineral separation and magnetic separation that the concentrate can then go through leaching and produce high purity lithium. Our key goal is to move as quickly as possible to start moving material through the test plant we purchased, which was designed and built under the guidance of Dr. Perez Garibay. It is our belief that the salars we are purchasing have the realistic potential of becoming near term lithium producers and it is our intention to prove that as quickly as possible and the work we are starting at Saldivar, is designed to meet that goal."

    Julio Pinto Linares is a qualified person, doctor in geological sciences with specialty in economic geology and qualified professional No. 01365 by MMSA for Advance Gold and is the qualified person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

    About Advance Gold Corp.

    Advance Gold is a junior exploration company focused on acquiring and exploring mineral properties containing precious metals. The company acquired a 100-per-cent interest in the Tabasquena silver mine in Zacatecas, Mexico, in 2017, and the Venaditas project, also in Zacatecas state, in April, 2018. In addition, Advance Gold holds an 11.45% interest in strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 88.55% of the Kakamega project is held by Shanta Gold Limited (project previously owned by Barrick Gold Corporation, for details see Advance Gold News Release dated 2020-08-26).

    For further information, please contact:
    Allan Barry Laboucan,
    President and CEO
    Phone 492-238-5282 (Direct-Mexico Cell)
    Email: allan@advancegold.ca
    www.advancegold.ca

    This news release contains certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change, except as required by 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 news release.

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    To: LoneClone who wrote (18164)4/10/2021 11:58:44 AM
    From: LoneClone
       of 19333
     
    [Vanadium] Victory Metals and Nevada King Mining Announce Completion of Business Combination to Create Nevada King Gold

    newswire.ca

    Victory Metals Inc Apr 07, 2021, 09:24 ET

    VANCOUVER, BC, April 7, 2021 /CNW/ - Victory Metals Inc. (now named Nevada King Gold Corp. ("Victory") (TSXV: VMX) and Nevada King Mining Ltd. ("Nevada King"), a private B.C. company, are pleased to announce the completion of their previously announced plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, Victory has acquired all the issued and outstanding shares of Nevada King ("Nevada King Shares") at an exchange ratio of 1.7022 common shares of Victory (the "Consideration Shares") for each Nevada King Share. Concurrent with the completion of the Arrangement, Victory changed its name to "Nevada King Gold Corp." ("Nevada King Gold" or the "Company"). Nevada King Gold is expected to begin trading on the TSXV at the market open on April 9, 2021 under the symbol "NKG". Immediately following completion of the Arrangement Nevada King shareholders held 50% of the issued and outstanding shares of Nevada King Gold. Nevada King Gold is focused on becoming a leading Nevada explorer and developer by leveraging off its large and strategic landholdings along the prolific Battle Mountain Trend.

    Paul Matysek, Executive Chairman of Nevada King Gold, commented, "Along with assembling a commanding land position in one of the world's most prospective and prolific gold environments, Nevada King Gold has established a board and management with significant experience in the mining industry and, collectively among the members of the board and management, a history of previous cumulative M&A transaction value in excess of $5 billion over the past 15 years."

    Collin Kettell, Chief Executive Officer of Nevada King Gold, stated, "Nevada King Gold is well capitalized with over $20M in cash and a plan to drill four of our district-scale projects in 2021. Since the announcement of the merger between Victory and Nevada King, several major mining companies have made multi-million-dollar commitments to enter and re-enter Nevada. This level of activity has been absent from the State for the past decade and we believe that this influx of capital represents the beginning of a new era in Nevada. We are excited to be positioned as one of the largest landholders in one of the world's most prolific gold mining belts."

    Highlights of the Arrangement

    • Nevada King Gold is a leading Nevada explorer and developer focused exclusively on the Battle Mountain Trend, one of the most endowed and prolific gold trends in the world.
    • Nevada King Gold is the fastest-growing mineral claim holder in the United States and now ranks as Nevada's fourth-largest active claim holder with 8,193 claims totalling 163,860 acres (663 square kilometres).
    • The transaction brings together two 100%-owned development stage assets:
    Atlanta Gold Mine, Nevada – a past producing gold mine with recorded production of 110,000 ounces of gold and 800,000 ounces of silver (1975-1985). A recently completed National Instrument 43-101 ("NI 43-101") compliant technical report dated October 29, 2020, by Gustavson Associates of Lakewood, Colorado, calculated a pit constrained, measured and indicated mineral resource of 11 million tonnes grading 1.3 g/t Au and 11.9 g/t Ag using a 0.35 g/t Au only cut off, containing 460,000 oz Au and 4,220,000 oz Ag; and an inferred mineral resource of 5.31 million tonnes grading 0.83 g/t Au and 7.3 g/t Ag, containing 142,000 oz Au and 1,240,000 oz Ag (see Table 1-1).

    Table 1-1: Tabulation of Mineral Resources




    Resource Category

    Tonnes

    (000's)

    Au

    Grade

    (ppm)

    Contained

    Au Oz

    (000's)

    Ag

    Grade

    (ppm)

    Contained

    Ag Oz

    (000's)

    Measured

    4,130

    1.51

    200

    14.0

    1,860

    Indicated

    6,910

    1.17

    260

    10.6

    2,360

    Measured + Indicated

    11,000

    1.30

    460

    11.9

    4,220

    Inferred

    5,310

    0.83

    142

    7.3

    1,240




    Iron Point Vanadium/Gold Project, Nevada – North America's largest mineralized vanadium footprint in a shallow, open-pittable configuration, currently moving towards a maiden NI 43-101 resource and Preliminary Economic Assessment, as well as a deep Carlin-style gold target currently being explored by joint venture partner Ethos Gold Corp.

    • These core assets are combined with a portfolio of district-scale exploration projects in the heart of the Battle Mountain Trend including Golconda Gold, Horse Mountain-Mill Creek, Lewis, Hilltop South, Buffalo Valley, Cedars-Carico Lake, Kobeh Valley, and Evana.
    Change to the Board of Directors of the Company

    Upon closing of the Arrangement, Dr. Quinton Hennigh was appointed to the Company's board of directors. Dr. Hennigh is a world-renowned geologist and the Founder & Chairman of Novo Resources Corp., a TSX-V listed gold explorer and developer. The addition of Dr. Quinton Hennigh to the Company's board of directors will be instrumental in guiding our exploration and development activities going forward. In addition to Dr. Hennigh, the Nevada King Gold board of directors will include: Paul Matysek, Collin Kettell, Craig Roberts and Doug Forster.

    Conversion of Subscription Receipts

    As a condition to the completion of the Arrangement, the Company was required to complete a financing of at least $8 million at a price per Consideration Share of not less than $0.50. Due to overwhelming demand and as previously announced on January 18, 2021 and December 23, 2020, the Company completed a non-brokered private placement financing of subscription receipts of the Company ("Subscription Receipts") for aggregate gross proceeds of $18,043,796.10 at a price per Subscription Receipt of $0.55 (the "Financing").

    Upon the completion of the Arrangement, the Company has now satisfied all of the conditions to the release of the escrowed proceeds of the Financing and the conversion of the 32,806,902 Subscription Receipts issued pursuant to the Financing. The Company has provided notice to Alliance Trust Company, the subscription receipt agent, that the escrow release conditions have been met and the Company expects to receive the net proceeds of the Financing later today. The Subscription Receipts will be converted into 32,806,902 common shares of the Company.

    About Nevada King Gold Corp.

    Nevada King Gold is the fourth largest mineral claim holder in the State of Nevada, and the fastest growing mineral claim holder in the United States. Nevada King Golds owns a 100% interest in the Atlanta Mine, located 100km southeast of Ely, Nevada, and the Iron Point Vanadium Project, located 22 miles east of Winnemucca, Nevada. The Atlanta Mine is a historical gold-silver producer that currently hosts a NI 43-101 compliant mineral resource estimate constrained by a conceptual pit containing 11 million tonnes of measured and indicated resources grading 1.3g/t Au and containing 460,000 Au oz (Table 1-1). Inferred mineral resources are 5.31 million tonnes grading 0.83 g/t Au containing 142,000 Au oz. Past open pit production is reported to have been 110,000 oz Au and 800,000 oz. Ag (1975 - 1985). The Iron Point Vanadium Project is located within a few miles of Interstate 80, has high voltage electric power lines running through the project area and a railroad line passing across the northern property boundary. Nevada King Gold is well financed to advance the Iron Point Vanadium Project through resource estimation and initial feasibility study work. Nevada King Gold has a proven capital markets and mining team led by Executive Chairman Paul Matysek.

    Mineral resources are not Mineral reserves and do not have demonstrated economic viability. There is no certainty that the mineral resources will be converted to mineral reserves. The quantity and grade are estimates and are rounded to reflect the fact that it is an approximation. Quantities may not sum due to rounding.

    Kevin Francis, SME RM, of Gustavson Associates is the Qualified Person with responsibility for the mineral resource estimate. Mineral resources do not have modifying factors or dilution applied. Mineral resources are presented at a 0.35 ppm gold only cutoff grade and constrained by a pit optimization shell developed at $1500/ oz Au.

    The technical information surrounding the recently released NI 43-101 compliant mineral resource for the Atlanta Mine has been reviewed and approved by Kevin Francis, SME RM, who is a Qualified Person as defined by National Instrument 43-101.

    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.

    Cautionary Statements Regarding Forward Looking Information

    This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to future operations and activities of Nevada King Gold, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, drilling plans for 2021, the expected benefits of the Arrangement, statements relating to the release of escrowed funds, managements expectations regarding Nevada King Gold and the Company's future outlook and anticipated events or results. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the Company's failure to complete the Arrangement, the failure of the TSX Venture Exchange to approve the Arrangement and management's discretion to reallocate the use of proceeds. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King Gold does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

    SOURCE Victory Metals Inc

    For further information: contact Collin Kettell at [ck@victorymetals.ca] or (301) 744-8744.

    Related Links victorymetals.ca

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    To: LoneClone who wrote (18165)4/10/2021 1:09:43 PM
    From: LoneClone
       of 19333
     
    [Lithium]

    Jindalee Resources soars on confirming 10.1 million tonnes McDermitt resource is largest lithium deposit in USA

    The McDermitt deposit remains open with a conceptual exploration target range (ETR) between 1.3 to 2.3 billion tonnes at 1,100 to 1,500 ppm lithium.
    Shares have been up almost 56% to A$2.86 in early trade, a new record high for the company.


    proactiveinvestors.com.au


    Jindalee Resources Ltd ( ASX:JRL) has skyrocketed after confirming that the upgraded resource estimate of 10.1 million tonnes at McDermitt Project on the Oregon-Nevada border is the USA's largest lithium deposit by contained lithium.

    McDermitt hosts a combined indicated and inferred mineral resource inventory of 1.43 billion tonnes at 1,320 ppm lithium for a total of 10.1 million tonnes lithium carbonate equivalent (LCE) at a cut-off grade of 1,000 ppm.

    This makes it the largest lithium deposit in the United States by contained lithium in mineral resource, eclipsing Lithium Americas Corp’s ( TSE:LAC) ( NYSE:LAC) Thacker Pass deposit.

    New record high There has been a strong response from investors with shares up almost 56% to A$2.86 in early trade, a new record high for the company which has a market cap of approximately A$88.8 million,

    Since January 11, 2021, shares have increased from A$0.775 on the back of strong news flow and improved lithium markets.

    Cut-off grade reduced The cut-off grade for the resource has reduced from 1,750 ppm in 2019 to 1,000 ppm in 2021 due to encouraging results from metallurgical test-work completed over the past 18 months, which demonstrated the ore can be beneficiated before leaching.

    This significantly increases confidence in the ability to reduce operating costs which impacts directly and positively upon the reasonable prospects for eventual economic extraction.

    Recent infill drilling has increased confidence in geological and grade continuity through the centre of the deposit, allowing conversion of part of the existing inferred mineral resource to indicated.

    There is also scope for resource extensions to the west of the deposit and south in Jindalee’s new claims with further infill drilling planned for the inferred material.

    Jindalee commissioned H&S Consultants Pty Ltd to update the resource estimate following the completion of the 2020 drill program.

    Potential source for US battery industry Results from the resource update and the material uplift in contained lithium reinforces the potential of the McDermitt project as a potential source of future supply to the rapidly growing US battery manufacturing industry.

    The company is well-funded to continue advancing the development of the project with additional drilling, mining and metallurgical studies planned.

    Jindalee intends to continue de-risking the project through further metallurgical studies aimed at the downstream processing flowsheet ahead of a potential scoping study in the current quarter.

    The 2021 drill program will be finalised based on the updated estimate with the aim to infill and further upgrade the resource and to define the full extent of the lithium mineralisation at McDermitt.

    Applications for drill permitting are expected to be submitted in April 2021.

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