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   Gold/Mining/EnergyRare Earth Elements and Exotic Metals

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To: LoneClone who wrote (18161)4/8/2021 5:51:49 PM
From: LoneClone
   of 19307
[Graphite] Lomiko La Loutre Metallurgical Testing Produces Concentrate Grading 97.8% Carbon and 93.5% Graphite Recovery

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:

Quebec Crystalline Flake Graphite (Photo: Business Wire)


  • 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


    Assays (%)

    % Distribution




    Combined Concentrate




    +80 Mesh 2nd Clnr Conc




    +80 mesh 1st Clnr Tails




    -80 mesh 3rd Clnr Conc




    -80 mesh 1st Clnr Conc




    1st Clnr Tails




    Scav Tails




    Head (calc)




    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






















































    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, contact A. Paul Gill at 604-729-5312 or email:

    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


    A. Paul Gill

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    To: LoneClone who wrote (18162)4/9/2021 3:25:40 PM
    From: LoneClone
       of 19307
    Sayona Mining (ASX:SYA) Advances Lithium Exploration Activity in Canada & Australia

    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.


    - 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:

    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


    Brett Lynch
    Managing Director
    Phone: +61 (7) 3369 7058

    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 19307
    Advance Gold Begins Drilling the Saldivar Lithium Salar in San Luis Potosi, Mexico

    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)

    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 19307
    [Vanadium] Victory Metals and Nevada King Mining Announce Completion of Business Combination to Create Nevada King Gold

    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







    Au Oz






    Ag Oz














    Measured + Indicated












    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 [] or (301) 744-8744.

    Related Links

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    To: LoneClone who wrote (18165)4/10/2021 1:09:43 PM
    From: LoneClone
       of 19307

    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.

    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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    To: LoneClone who wrote (18166)4/10/2021 1:12:33 PM
    From: LoneClone
       of 19307
    [Tin] Alphamin Announces Q1 2021 EBITDA Guidance of US$36,5M/ Production, Sales and Growth Update

    Alphamin Resources Corp.
    Fri., April 9, 2021, 12:20 a.m.·7 min read

    GRAND BAIE, Mauritius, April 09, 2021 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX, “Alphamin” or the “Company”), a producer of 4% of the world’s mined tin1 from its high grade operation in the Democratic Republic of Congo, is pleased to provide the following operational and growth update for the quarter ended March 2021:

  • Q1 EBITDA guidance of $36,5m, which would be a new quarterly record, at a tin price of $23,083/t (Current: ~$25,000/t);

  • Tin sales of 3,351 tons, up 45% from the previous quarter;

  • Main Zone mineralisation intercepted at Mpama South, based on visual inspection and interpretation, is comparable to the Resource mined at the high grade Mpama North Mine;

  • New parallel mineralisation zone discovered in the footwall of the Main Zone at Mpama South;

  • Fine tin recovery plant on schedule for commissioning during June 2021

  • Operational and Financial Summary for the Quarter ended March 20212




    ended March



    Tons Processed






    Tin Grade Processed

    % Sn





    Overall Plant Recovery






    Contained Tin Produced






    Contained Tin Sold






    EBITDA (Q1 2021 guidance)






    Tin Price Achieved







    1Data obtained from International Tin Association Tin Industry Review 2020 2 Production information is disclosed on a 100% basis. Alphamin indirectly owns 84.14% of its operating subsidiary to which the information relates. 3Q1 2021 EBITDA represents management’s guidance.

    Operational and Financial Performance

    Contained tin sales of 3,351 tons was 45% higher than the previous quarter as we recouped the sales shortfall of Q4 2020. Contained tin production of 2,611 tons was impacted by a lower feed grade of 3.8% Sn compared to 4.2% Sn the previous quarter. Tin feed grades are variable between quarters but on average trend close to the targeted 4% Sn Reserve Grade over a rolling 12-month period. The processing plant performed well at an average recovery of 74% whilst treating more material than the previous quarter.

    Our EBITDA guidance of $36,5m for Q1 2021 is 118% above the previous quarter due to increased sales volumes benefiting from a 25% higher tin price. Tin prices are currently trading at around $25,000/t, some 10% above prices achieved during the past quarter.

    Alphamin’s unaudited consolidated financial statements and accompanying Management’s Discussion and Analysis for the quarter ended 31 March 2021 is expected to be released on or around 7 May 2021.

    Growth Initiatives

    Fine Tin Recovery Plant (FTP) - The FTP is on schedule for full commissioning during June 2021. Estimated expenditure at completion is substantially in line with the budget of US$4.6 million. The FTP has the potential to increase contained tin production by 5%-10% effective July 2021.

    Exploration Activities - Alphamin’s exploration initiative aims to: extend the life-of-mine at its currently producing Mpama North operation; to declare a Maiden Mineral Resource for Mpama South (located 750 metres south of Mpama North); and to discover at least one additional orebody on the highly prospective Bisie Ridge (13km strike length). In that regard, Alphamin plans to allocate significant drilling metres to each of these three objectives during 2021 as follows:

  • Mpama South – between 8,000 and 14,000 metres drilling which, if successful, would allow Alphamin to declare a Maiden Mineral Resource towards the end of 2021 to be followed by a conceptual mining study, infill drilling and further step-out drilling to determine the extent of mineralisation;

  • Mpama North – an initial 7,500 metre drilling campaign is planned to test the strike and dip extension of the current producing orebody, below 400m in depth from the mine portal. Commencement of drilling is now targeted for May 2021 (previously August 2021);

  • Two drill targets 6-8km south of Mpama North have been identified along the Bisie Ridge. A high-density geochemical soil sampling program is underway and more accurate drilling targets will be identified by the outcomes of this program in Q3 2021.

  • Drilling at the Mpama South deposit of 6,645 metres has already been completed with an additional 8,000 metres planned to be drilled between April and August 2021 with the goal of declaring an initial maiden resource towards the end of 2021. As previously reported, all samples from drilling will be exported for assay by accredited 3rd party off-site laboratories. Assay results from the first three batches of export samples, related to 21 of the 25 holes drilled in phase 1, are expected during May and early June 2021. All holes completed have shown visual mineralisation, supporting continuity of the Main Zone system, while several exceptional intercepts comparable to the thick veins and brecciated zones of cassiterite existing at Mpama North were also observed. In addition, a new zone of mineralisation was discovered in the footwall which appears continuous and highly mineralised.

    Qualified Person

    Mr Vaughn Duke Pr.Eng. PMP, MBA, B.Sc. Mining Engineering (Hons.), is a qualified person (QP) as defined in National Instrument 43-101 and has reviewed and approved the scientific and technical information contained in this news release. He is a Principal Consultant, Partner and Director of Sound Mining Solutions, an independent technical consultant to the Company.


    Maritz Smith
    Alphamin Resources Corp.
    Tel: +230 269 4166


    Information in this news release that is not a statement of historical fact constitutes forward-looking information. Forward-looking statements contained herein include, without limitation, statements relating to expected EBITDA for the quarter ended March 31, 2021, the timing and cost of completion of the Company’s fine tin recovery plant and its impact on production and the timing and success of additional exploration drilling outcomes. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. 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. Although Alphamin 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. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to: uncertainties associated with Alphamin’s resource and reserve estimates, uncertainties regarding estimates of the expected mined tin grades, processing plant performance and recoveries, uncertainties regarding global supply and demand for tin and market and sales prices, uncertainties with respect to social, community and environmental impacts, uninterrupted access to required infrastructure, adverse political events, impacts of the global Covid-19 pandemic on mining operations and commodity prices as well as those risk factors set out in the Company’s Management Discussion and Analysis and other disclosure documents available under the Company’s profile at Forward-looking statements contained herein are made as of the date of this news release and Alphamin disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

    Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


    This announcement refers to the following non-IFRS financial performance measure:


    EBITDA is profit before net finance expense, income taxes and depreciation, depletion, and amortization. EBITDA provides insight into our overall business performance (a combination of cost management and growth) and is the corresponding flow driver towards the objective of achieving industry-leading returns. This measure assists readers in understanding the ongoing cash generating potential of the business including liquidity to fund working capital, servicing debt, and funding capital expenditures and investment opportunities.

    This measure is not recognized under IFRS as it does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. EBITDA data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

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    To: LoneClone who wrote (18167)4/10/2021 2:41:59 PM
    From: LoneClone
       of 19307
    American Manganese Improves Manganese Process Flowsheet for U.S. Defense Logistics Agency Project

    Optimization Could Support Improved Efficiencies & Reduce Capital Costs

    Friday, April 9, 2021 9:00 AM

    SURREY, BC / ACCESSWIRE / April 9, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) ("AMY" or the "Company") is pleased to announce improvements to the Company's manganese processing flowsheet following the recent research and development on the Wenden Stockpile reclamation and advanced material processing bench-scale project, funded by the U.S. Defense Logistics Agency (DLA).

    The recent metallurgical bench-scale studies that focused on solid-liquid separation demonstrated that the Company's original flowsheet can be optimized. These enhancements to the Company's flowsheet would be expected to further improve process efficiencies and reduce capital costs of a potential future commercial operation.

    "We continue to demonstrate our advanced manganese processing capabilities on low-grade manganese resources through our project with the DLA. Our work suggests that despite its low grade, the Wenden Stockpile may be a valuable manganese resource for the U.S., which is now 100% import-dependent for manganese in all forms," commented Larry Reaugh, President and CEO of American Manganese. "It's important that we maintain our methodical approach to enable an efficient and cost-effective flowsheet for treating Wenden Stockpile material to produce electrolytic manganese metal on a commercial scale."

    Manganese Filter Cake from Wenden, AZ Stockpile

    As of the project start date, American Manganese has collected 14 selective samples from the U.S. National Defense Stockpile in Wenden, Arizona and completed leach studies on the individual samples and a blended master composite. The Company achieved up to 99% extraction of manganese from the leach studies and determined optimal processing conditions. Additional bench-scale tests for the Wenden Stockpile reclamation and advanced material processing bench-scale project will include pregnant leach solution purification, tailings characterization, manganese carbonate precipitation, and electrolytic manganese metal testing. The project timeline is on schedule.

    About American Manganese Inc.

    American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.

    On behalf of Management

    Larry W. Reaugh
    President and Chief Executive Officer
    Telephone: 778 574 4444

    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 are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

    SOURCE: American Manganese Inc.

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    To: LoneClone who wrote (18168)4/10/2021 2:46:32 PM
    From: LoneClone
       of 19307
    Cobalt, sustainability: DRC launches monopoly over cobalt ASM to improve ESG credentials

    Posted 8th April 2021 in ?Industry news.
    By Brian Ziswa

    In December 2019, the Democratic Republic of Congo (DRC) government launched Entreprise Générale du Cobalt (EGC), which is 95% owned by Gécamines, with the state holding the balance. EGC has been granted a monopoly for the purchase, treatment, transformation, sale, and export of cobalt extracted by artisanal miners or artisanal mining companies in the DRC. The company set up is intended to deal with the myriad of environmental, social and governance (ESG) factors affecting artisanal and small-scale mining (ASM) cobalt production in the country. Marketing will be done by Trafigura, who will also provide logistical, finance and infrastructural support to the venture under an initial five-year deal.

    Roskill View

    Roskill estimates that over a million Congolese people are dependent on the revenues generated from cobalt ASM and its associated logistics and support businesses. Furthermore, in the DRC it is estimated that each worker supports an average of nine dependants. As a result, the development of a properly organised and thriving cobalt ASM sector in the country could be an immense force for good and one of the few positive legacies likely to arise from the growing demand for battery raw materials.

    However, several challenges lie ahead for the DRC artisanal sector. Firstly, the requirement that all artisanal mining activity takes place in specially designated zones will be hard to police and enforce. Most of the currently designated zones are remote and are not as well mineralised as the large-scale concessions held by the major mining companies, and as a result, these will continue to attract attention. So, the plan to address and dissuade artisanal miners from invading private mining concessions will need to be carefully determined and implemented.

    The DRC is the world’s largest cobalt producer, accounting for over 70% of cobalt mine supply in 2020. ASM supply from the country is highly elastic and depends on prevailing cobalt market prices. Over the last five years (2016-2020), it has accounted for an average 14% of the DRC’s annual cobalt output.

    Roskill expects that ASM production in the DRC in 2021 will amount to over 8kt cobalt. Based on this, if EGC was to capture this all, it would rank as the world’s fourth-largest cobalt producer, behind Glencore, ERG and China Molybdenum.

    Roskill’s NEW Cobalt Sustainability Monitor is out now. The monitor provides an in-depth look at the key ESG issues facing the cobalt supply chain and examines how cobalt producers, governments, and consumers will confront these concerns.

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    To: LoneClone who wrote (18169)4/10/2021 3:14:40 PM
    From: LoneClone
       of 19307
    Tirupati Graphite reaches 97% of nameplate capacity at Sahamamy project

    9th April 2021

    By: Marleny Arnoldi
    Creamer Media Online Writer

    London-listed Tirupati Graphite has achieved record production and sales at its Sahamamy mining operation, in Madagascar, in the first quarter of the year.

    The 3 000 t/y project has breached 97% of nameplate high-quality flake graphite production capacity.

    The company is also nearing the completion of development of the first 9 000 t/y module of its second project, Vatomina, to cater to the strong demand for its products.

    This will increase the company’s primary flake graphite production capacity in Madagascar to 12 000 t/y. Tirupati aims to increase capacity to 84 000 t/y by 2024.

    Tirupati CEO Shishir Poddar says he is proud of the company achieving near nameplate capacity at Sahamamy and remaining on track to commission Vatomina’s first module this quarter, while the company still faces logistical and other challenges caused by the pandemic.

    “We are growing at a particularly opportunistic time. Notably, the key role of flake graphite graphene in the green economy is being recognised across the globe with the likes of investment banker UBS, the World Bank and many others releasing reports suggesting increasing demand for this critical material could cause the market to grow in double digit compound annual growth rates.

    “We are therefore excited for the future and look forward to updating the market on further developments in due course.”

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    To: LoneClone who wrote (18170)4/11/2021 1:49:45 PM
    From: LoneClone
       of 19307
    Lithium prices have made a bottom, but the stocks haven't responded yet because they ran up so much before the bottom was reached. Looks like an opportunity to me, given that demand continues to ramp up. It will take a while for the majors to increase production enough to swamp the little guys.

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