|To: LoneClone who wrote (18164)||4/10/2021 11:58:44 AM|
|[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
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).
- 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:
Table 1-1: Tabulation of Mineral Resources
|Resource Category |
|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.
Change to the Board of Directors of the Company
- 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.
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 [firstname.lastname@example.org] or (301) 744-8744.
Related Links victorymetals.ca
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|To: LoneClone who wrote (18165)||4/10/2021 1:09:43 PM|
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|
|[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: ~$25,000/t);
Tin sales of 3,351 tons, up 45% from the previous quarter;
Main Zone mineralisation intercepted at Mpama South, based on visual inspection and interpretation, is comparable to the Resource mined at the high grade Mpama North Mine;
New parallel mineralisation zone discovered in the footwall of the Main Zone at Mpama South;
Fine tin recovery plant on schedule for commissioning during June 2021
Operational and Financial Summary for the Quarter ended March 20212
|Tin Grade Processed||% Sn||3.8||4.2||-9||%|
|Overall Plant Recovery||%||74||74||-0||%|
|Contained Tin Produced||Tons||2,611||2,898||-10||%|
|Contained Tin Sold||Tons||3,351||2,306||45||%|
|EBITDA (Q1 2021 guidance)||US$'000||36,5003||16,748||118||%|
|Tin Price Achieved||US$/t||23,083||18,497||25||%|
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.
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.
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.
FOR MORE INFORMATION, PLEASE CONTACT:
Alphamin Resources Corp.
Tel: +230 269 4166
CAUTION REGARDING FORWARD LOOKING STATEMENTS
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 www.sedar.com. 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.
USE OF NON-IFRS FINANCIAL PERFORMANCE MEASURES
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|
|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
AMERICAN MANGANESE INC.
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|
|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 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|
| 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|
|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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|To: LoneClone who wrote (18171)||4/12/2021 10:31:32 AM|
|[Lithium] Musk Metals Engages Prospectair for Airborne Geophysical Survey on its 100% Owned “Elon” Lithium Project in Quebec|
Musk Metals Corp.
Mon., April 12, 2021, 12:01 a.m.·4 min read
VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) -- Musk Metals Corp. (“Musk Metals” or the “Company”) (CSE: MUSK) (OTC: EMSKF) (FSE: 1I30) is pleased to announce that it has retained Prospectair Geosurveys Inc. (“Prospectair”) to complete a high-resolution heliborne magnetic survey on its 100% owned “Elon” Lithium property. The survey covers over 245 hectares in the La Corne and Fiedmont townships of Quebec, approximately 40 kilometres north of the mining town of Val d’Or. The Property is strategically located approximately 600 meters northeast of the Lithium Amérique du Nord (“North American”) project (formerly Mine Québec Lithium), which produced over 907,000 tonnes of material, at 1.40% Li2O from 1955 to 1965 (Boily et al, 1989).
Once the survey commences, the Company will make a further announcement. The traverse lines are oriented N015 to properly map the dominant magnetic/geological strike, and with a 50m line spacing. Control lines will be flown perpendicular to traverse lines and at a 500m line spacing with a total survey distance of 205 l-km. The closely spaced flight lines and low flying high resolution magnetic survey commissioned by Musk Metals will vector future exploration efforts to those areas.The Company has decided to withdraw from the survey any lots owned by the Loisir & Sport Plein Air Corporation since it decided to not have any potential or future impact on their activities
Musk Metals is planning a two-phase exploration work program including: data compilation, geological mapping, trenching and sampling in Phase 1, followed by diamond drilling and metallurgical testing in Phase 2.
The Elon lithium property has excellent infrastructure support with road network, railway, electricity, water, and trained manpower available locally. The Property is in an active lithium exploration/mining area with several lithium projects in the vicinity (Figure 1). There are several historical and currently active lithium and molybdenum prospects/mines located approximately 3 km to 20 km from the property such as: Lithium Amérique du Nord (now closed mine Quebec Lithium, which was formerly owned by RB Energy 600m to the south), Authier Lithium (owned by Sayona Mining of Australia located 30 km west), Valor Lithium, Duval Lithium, Lacorne Lithium, International Lithium, Vallee Lithium, and Moly Hill.
Musk Metals CEO and Director, Nader Vatanchi states, "Musk Metals has quickly commenced its Phase 1 work program shortly after its recent acquisition of the ELON lithium property. With several historical and currently active lithium and molybdenum prospects and mines in close proximity to the ELON property, we are focused on rapidly advancing the project through our Phase 1 exploration work program and defining targets for Phase 2 diamond drilling. Musk has diversified its portfolio of highly prospective exploration projects to now include two highly prospective lithium properties, as we strive to maximize shareholder value by participating in the battery revolution.”
The Elon Property contains three favorable geological features for rare metal pegmatites, such the presence of concordant stacked sills; the presence of a compressed, near vertical, syntectonic mobile zone that is the host of pegmatite intrusion; and dominantly mafic volcanics lithologies as host rocks, often with intercalated metasediments and gabbroic rocks (Pearse & al., 2016).
Figure 1: Adjacent Properties
Adjacent Properties: Properties Adjacent to Elon Lithium Project
This press release was prepared by Pierre-Alexandre Pelletier, P.Geo OGQ, and Steven Lauzier, P.Geo OGQ whom are qualified persons as defined under National Instrument 43-101, and who reviewed and approved the geological information provided in this news release.
Make sure to follow the company on Twitter, Instagram and Facebook as well as subscribe for company updates at www.muskmetals.ca
About Musk Metals Corp.
Musk Metals is a publicly traded exploration company focused on the development of highly prospective, discovery-stage mineral properties located in some of Canada’s top mining jurisdictions. The growing portfolio of mineral properties exhibit favorable geological characteristics in underexplored areas within the prolific “Electric Avenue” pegmatite field of northwestern Ontario, the “Abitibi Lithium Camp” of southwestern Quebec, the “Golden Triangle” district of British Columbia, the Mineral Rich “Red Lake” mining camp of Northwestern Ontario and the “Chapais-Chibougamau” mining camp, the second largest mining camp in Quebec, Canada.
ON BEHALF OF THE BOARD
CEO & Director
For more information on Musk Metals, please contact:
Corporate e-mail: email@example.com
Corporate Address: 303 – 570 Granville Street, Vancouver, BC, V6C 2P1
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Boily, M., Pilote, P., Raillon, H., 1989: La métallogénie des métaux de haute technologie en Abitibi-Témiscamingue. Ministère des Ressources Naturelles, MB 89-29.
Pearse, HK., Paiement, J.P., Skiadas. N., Stapinsky, M., Boyd, T., Bonneville., Gagnon, D., Clayton, G., Michaud, A., Boilard, A., 2016: NI 43-101 Technical Report - Feasibility Study on the Whabouchi Lithium Deposit and Hydromet Plant (Revised). Prepared for Nemaska Lithium Inc. By Met-Chem Canada Inc.
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|To: LoneClone who wrote (18172)||4/12/2021 10:54:39 AM|
|[Fluorspar] Ares Reports Large Geophysics Anomalies at its mine Indicating Potential Additional Fluorspar Pipes|
IP anomalies clustered in between known fluorspar mineralization.
Confirmed fluorspar mineralization at the surface of the discovered IP anomalies.
Potential fluorspar mineralization sited on area already permitted for mining.
Vancouver, B.C. April 12th, 2021 — Ares Strategic Mining Inc. (“Ares” or the “Company”) (TSXV: ARS) (OTC:ARSMF) (FRA: N8I1), is pleased to announce, that following modelling work using recent drilling and assaying data, geophysical IP surveys were conducted around the permitted mine area, correlating geophysical anomalies with both known fluorspar mineralization and identifying new anomalies with similar geophysical signatures as known existing fluorspar pipes.
The IP survey on the permitted mining area consisted of 6 lines, each of them 800m long, with dipoles located 25m apart (See Figure 1). The lines were designed to run over known fluorspar locations to identify and define their geophysical signatures, which could then be used to identify new potential targets. Parallel lines were planned away from those to test for potential blind targets. Two orthogonal lines were also planned as tie lines for structure and stratigraphic correlation.
James Walker, President and CEO stated: “Discovering these additional breccia pipes so close to the existing mining targets, gives our planned initial mining operation a huge increase in potential. The identified anomalous zones are close enough to the planned mining operation to be incorporated into the preliminary mine plan, allowing for a single adit with many branches which are capable of being mined concurrently. Additionally, we have now identified a methodology we can apply throughout the entire Spor mountain range to identify new targets for drilling and future operations. The non-contiguous, non-metallic, sub-surface fluorspar mineralization, have remained undiscoverable throughout the Spor Mountain’s century of operation. Ares now has the means to consistently identify new potential targets, even without obvious geological and visual indications. It is a very promising and exciting find for our Company.”
Figure 1. Location of IP section lines, and position of the newly located breccia pipes (red circled areas).
Lines 3 and 5 show clear anomalies that can be correlated with intrusive breccias pipes breaking through the limestone host rocks.
The anomaly in Line 3 (Figures 1, 2, 3 and 4) is 50m long in a ENE-WSW direction and open to a depth of approximately 50m from surface. The anomaly is located right between the known Blowout / Badger Hole known fluorspar pipes and the LGP / Purple Pit fluorspar pipes, suggesting the continuation of an almost linear trend.
Line 5 shows three anomalies (Figures 1, 5, 6 and 7), the smaller clearly related to the down dip projection of the known Blowout Mine (possibly indicating additional non-mined fluorspar mineralization). Under the Badger Hole a thin elongated anomaly may indicate the presence of a narrow pipe, as indicated also by the nature and extent of historic workings. A larger more elongated anomaly extending at depth and to the north at moderate angle to an inferred depth between 75 and 100m is known to correlate at surface where volcanic intrusive breccia and fluorite are also reported and mapped.
Figure 2. IP section 3 indicating the presence of a disruption of the limestone package likely related with an intrusive breccia pipe (red circled area).
Figure 3. Isometric view of IP section 3 on top of DEM model indicating the presence of the IP anomaly likely related with an intrusive breccia pipe (red circled area) and surrounding known breccia pipes.
Figure 4. Isometric view of IP section 3 looking NE from below indicating the presence of the IP anomaly likely related with an intrusive breccia pipe (red circled area) and surrounding known breccia pipes.
Figure 5. IP section 5 indicating the presence of disruptions of the limestone package likely related with intrusive breccia pipes (red circled areas).
Figure 6. View of IP section 5 looking East from below indicating the presence of the IP anomalies likely related with intrusive breccia pipes (red circled areas) and surrounding known fluorspar bearing breccia pipes. The correlation of the anomalous areas under the Blowout and Badger Hole pits is very evident.
Figure 7. Isometric view of IP section 3 looking NW from below indicating the presence of the IP anomalies likely related with intrusive breccia bodies (red circled areas) and surrounding known fluorspar bearing breccia pipes, including the wireframes for the known LGP-Purple Pits and drill hole traces for reference.
Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release. Mr. Sanabria is not independent to the Company as he is a Director and shareholder.
Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. Some industrial mineral ventures are relatively simple operations with low levels of investment and risk, where the operating entity has determined that a formal prefeasibility or feasibility study in conformance with NI 43-101 and 43-101 CP is not required for a production decision. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. Based on historical engineering work, geological reports, historical production data and current engineering work completed or in the process by Ares, the Company intends to move forward with the development of this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.
Lost Sheep Fluorspar Project – Delta, Utah
• 100% owned – 2,100 acres – 108 Claims
• Located in the Spor Mountain area, Juab County, Utah, approximately 214 km south-west of Salt Lake City.
• Fully Permitted – including mining permits.
• NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities.
• Mining plan approved by BLM
 First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.
Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARES STRATEGIC MINING INC.
James Walker Chief Executive Officer and President
For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at firstname.lastname@example.org
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Ares PR - IP Exploration Results
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|To: LoneClone who wrote (18173)||4/12/2021 10:58:34 AM|
|Neo Lithium Supports a Sustainable Future by Engaging Golder & UNSAM for the ESG Program of the 3Q Project|
Mon., April 12, 2021, 5:00 a.m.·7 min read
UNSAM engaged to implement sustainable mining protocols for operation
Golder engaged to assist the project in demonstrating strong ESG commitment
Golder also will study the CO2 footprint of the 3Q Project for the DFS
Neo Lithium has followed the ESG structure since its early exploration and development phases through e3 Plus framework and is now working in implementing sustainable mining protocols
TORONTO, April 12, 2021 /CNW/ - Neo Lithium Corp. ("Neo Lithium" or the "Company") (TSXV: NLC) (OTCQX: NTTHF) (FSE:NE2), is pleased to announce that it has engaged Golder Associates Ltd. ("Golder") and the Argentinean National University of San Martin ("UNSAM"), to assist with the Environmental, Social and Governance ("ESG") program for its Definitive Feasibility Study ("DFS") and in preparation for future construction and operation of the 3Q project.
Neo Lithium through its wholly owned Argentinean subsidiary, Liex SA, began the process of preparation, training, and implementation of a ESG system for its 3Q Project since the early stages of exploration in 2016. The Company hired multiple international consultants, including late Emeritus Scientist Dr. Johannes Boon, who set the Company's 3Q Project program following e3 Plus1 framework. Since that time, the Company has continued to operate and enhance these processes. As part of the DFS work conducted by Worley, the Company has started to solidify its operational and technical teams as well as its systems towards a full long-term sustainable future.
"We have been working since the very beginning of the project following the highest standards. We now bring Golder to work cooperatively with UNSAM and our team to upgrade the standards to be applied even further to future construction and production of the 3Q Project," said Waldo Perez, CEO of Neo Lithium Corp. "We take very seriously our compromise with all of our stakeholders and future generations, which in large part includes all aspects of ESG."
|1 e3 Plus is a framework for responsible exploration which has been developed for mineral exploration companies by the Prospectors and Developers Association of Canada.|
In order to get ready to indicate pond construction the Company has engaged the UNSAM to design the Towards Sustainable Mining (TSM)2 protocols adapted in Argentina under Acronym HMS in collaboration of all mining producers of Argentina with the Mining Association of Canada (MAC). UNSAM will complete the protocols and organize the implementation of the ESG system and prepare a comprehensive regional diagnosis of relevant social issues that will allow the development of a longer-term strategy during the life of mine of the 3Q Project. This work is expected to be finalized during 2021 together with the DFS work.
|2 Towards Sustainable Mining (TSM) is a commitment by the Mining Association of Canada (MAC) to responsible mining. It is a set of tools and indicators to drive performance and ensure that mining risks are managed responsibly at its members' facilities. |
Neo Lithium has engaged Golder to review and guide the ESG protocols designed by the UNSAM for the 3Q project. The scope of work from Golder includes:
Review project information to match ESG standards that apply to the Company and the 3Q Project based on ESG requirements of potential investors.
Estimate the project carbon footprint and benchmark the carbon intensity and other key ESG metrics against similar projects.
Lower CO2 intensity
In support to key parameters of ESG: "Climate Action and Affordable Clean energy" and based on relevant industry standards Neo Lithium plans to be at the low end of the CO2 emission footprint when compared to any other brine asset worldwide. As stated on Roskill's "Lithium: Sustainability Monitor, 1st Edition" CO2 intensity from the production of lithium in brine and mineral industries (hard rock lithium production via spodumene concentrate) show a sharp contrast when examining their CO2 footprints. Brine operations produced refined lithium at a weighted average carbon intensity of 2.8t CO2/t LCE, whereas the mineral industry has an average intensity of 9.6t CO2/t LCE.
CSR Program in Argentina
The Corporate Social Responsibility (CSR) program for the 3Q project was designed following e3 Plus framework which encompassed programs such as: Hiring Local manpower (Liex SA has close to 80% local employment in the 3Q Project, and is the main private employer in the local community), Approaching the Community communication program (includes an open door policy, permanent radio, tv and social media information, visits to the project sponsored by Liex SA among other communication tools), Stakeholder Mapping and Monitoring program, Buy Local program as well as a permanent Fiambalá community office with an exclusive local operations team. Liex SA has also focused on empowering the community by providing training courses related to wellbeing, health issues, technical programs as well as providing information on the lithium industry, environment and the 3Q Project. For further information on our programs please visit the following informational links from Liex SA:
Website page ( www.liex.com.ar)
YouTube channel ( www.youtube.com/channel/UC7aXW7zoKLJ52NKhfByPqOA)
Facebook page ( www.facebook.com/liexargentina)
Linkedin page ( www.linkedin.com/company/liex-s.a./)
Instagram page ( www.instagram.com/litioargentina/)
Grant of Options
Neo Lithium has granted to directors, officers and consultants of the Company stock options (the "Options") to purchase a total of 3,200,000 common shares at a price of $3.05 per common share. The Options are exercisable for a period of 5 years and have been granted in accordance with the terms of the Company's current stock option plan.
About Neo Lithium Corp.
Neo Lithium Corp. has quickly become a prominent new name in lithium brine development by virtue of its high quality 3Q Project and experienced team. Neo Lithium is rapidly advancing its 100% owned 3Q Project - a unique high-grade lithium brine lake and salar complex in Latin America's "Lithium Triangle".
The 3Q Project is located in the Catamarca Province, the largest lithium producing area in Argentina covering approximately 35,000 ha including a salar complex of approximately 16,000 ha.
Additional information regarding Neo Lithium Corp. is available on SEDAR at www.sedar.com under the Company's profile and at its website at www.neolithium.ca, including various pictures of ongoing work at the project.
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 press release.
Cautionary Statements Regarding Forward-Looking Statements - Certain information set forth in this news release may contain forward-looking statements. Such statements include but are not limited to, statements concerning the Sidecar Placement and the Brokered Offering, the intended use of proceeds therefrom, the Closing Date and receipt of regulatory approvals, including the approval of the TSXV. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. These risks include, without limitation, risks related to failure to obtain regulatory approval for the Sidecar Placement, failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for lithium products, and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements.
SOURCE Neo Lithium Corp.
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